Jung Eui-sun Urges "Leadership on Climate Change and Energy Poverty" Before Amazon and CATL Chairmen

B20 Summit Keynote Speech on Sustainable Energy Transition
"Community Safety and Health, Critical Issues Threatening a Better Future"
Global Governments and Companies Urged for Bold Decisions and Leadership
G20 Summit Supports 393 Electric Vehicles as Operational Fleet

Hyundai Motor Group Chairman Chung Euisun delivering the keynote speech on "Accelerating Energy Poverty and Fair and Orderly Sustainable Energy Transition" at the 'B20 Summit Indonesia 2022' held in Bali, Indonesia, on the 13th. Photo by Hyundai Motor Group

[Asia Economy Reporter Choi Dae-yeol] Chung Eui-sun, Chairman of Hyundai Motor Group, emphasized on the 13th (local time) at the ‘B20 Summit Indonesia 2022’ held in Bali, Indonesia, that "this is a critical moment requiring bold decisions and leadership to address the global climate change crisis and energy poverty."

The B20 Summit is a consultative body of private economic organizations and companies that delivers policy recommendations from the business community during the policy consultation process among the leaders of the Group of 20 (G20). It is held just before the G20 summit. This year, it is held over two days starting today under the theme of ‘Promoting Innovative, Inclusive, and Collaborative Growth.’

At this event, Chairman Chung delivered a keynote speech on the theme of ‘Energy Poverty and Fair and Orderly Sustainable Energy Transition.’ About 2,000 key economic figures attended, including G20 leaders and ministerial-level officials, Jeff Bezos, Chairman of Amazon’s Board, Zeng Yuqin, Chairman of CATL, and Anthony Tan, founder of Grab.

Chairman Chung stated, "Moving away from fossil fuels, the main cause of greenhouse gases, has not been easy so far and will not be easy in the future, but valuable actions always come with difficulties," and argued that all responsible parties, including governments and companies, must cooperate to transition to a sustainable energy supply system.

He added, "Automobile companies are investing in renewable energy even at this moment, but the industry’s efforts alone cannot achieve this, and everyone must collaborate to devise solutions that can promote the transition to sustainable energy," and said, "However, climate change is not the only reason to accelerate the transition to sustainable energy."

He continued, "The rise in global energy prices is increasing difficulties for vulnerable groups, and energy poverty is a real issue for many people," adding, "Energy poverty threatens community safety, health, welfare, and a better future."

He also shared the company’s carbon neutrality strategy. Chairman Chung said, "We are pursuing a carbon neutrality strategy across the entire value chain, from automobile parts procurement to manufacturing, logistics, operation, disposal, and recycling," and proposed, "Strong policy support from global leaders is necessary so that companies can actively invest in new resources and technologies to realize carbon neutrality." He mentioned the potential of renewable energy and hydrogen as future energy sources and urged to advance their introduction.

He concluded, "We will continue to take the right actions toward a sustainable future for all," and said, "I hope you will join us on this journey to protect the Earth and future generations."

Meanwhile, Hyundai Motor Group will support electric vehicles as protocol vehicles at the G20 Bali Summit, held over two days starting on the 15th. The company will provide 393 electric vehicles as event operation vehicles, including 131 G80 electrified models for heads of state and their spouses from each country, and 262 Hyundai Ioniq 5 vehicles. The company has established its first complete vehicle production base in the ASEAN region in Indonesia, producing models such as the Creta and Ioniq 5.

This content was produced with the assistance of AI translation services.