Introduction of Hydrogen and Electric Vehicles on LNG Ships... Glovis Advances Carbon Neutrality by 5 Years

Mid-to-Long-Term Roadmap Presented in Net Zero Special Report

Hyundai Glovis has set a goal to achieve carbon neutrality by 2045, five years ahead of the government's target of 2050. As a company primarily engaged in transportation services such as shipping and vehicles, which involve significant carbon emissions, it has announced plans to improve its overall organizational structure.

The company released a special carbon neutrality report (Net Zero Special Report) on the 5th, outlining its strategy to achieve carbon neutrality (based on Scope 1 and 2) by 2045. It aims to achieve carbon neutrality in its shipping business five years earlier than the International Maritime Organization (IMO) regulations. Hyundai Glovis plans to establish an eco-friendly value chain throughout the entire transportation process and expand this green value chain to its partners. It will also support its clients' carbon neutrality efforts.

To achieve carbon neutrality in the shipping sector, the company plans to reduce carbon emissions by improving energy efficiency. Starting next year, it will introduce eco-friendly vessels such as car carriers equipped with liquefied natural gas (LNG) dual-fuel engines in its shipping operations. By 2035, it intends to transition to zero-carbon ships.

Hyundai Glovis operates the Hyundai hydrogen fuel cell truck, Xcient. It transports vehicle parts around the Ulsan and Gyeongbuk areas. / Photo by Oh Gyumin

It will also replace freight trucks with eco-friendly vehicles. By 2026, the company plans to increase the introduction of electric trucks and hydrogen fuel cell trucks. By 2030, all domestic work vehicles will be converted to eco-friendly vehicles. Since 2021, electric trucks have been used in the cold chain system. Hyundai Glovis is also participating in a hydrogen freight truck pilot project involving the Ministry of Land, Infrastructure and Transport and the Ministry of Environment. With the expansion of electric vehicle adoption, the company expects an increase in used batteries and plans to promote recycling businesses such as battery collection and supply.

By 2040, all electricity used at domestic and overseas business sites will be replaced with renewable energy. The company plans to secure power through long-term renewable energy supply contracts (PPA) and renewable energy certificates (REC). The goal is to transition the business sites in the Americas and Asia by 2030, and the headquarters in Europe and Korea by 2040.

To reduce carbon emissions from the supply chain outside of its business sites, Hyundai Glovis will encourage its partners to adopt eco-friendly vehicles and reduce indirect greenhouse gas emissions (Scope 3), aiming to achieve carbon neutrality by 2050. A company representative stated, "All members of the organization will share a consensus on eco-friendliness and sincerely work towards realizing carbon neutrality."

Hyundai Glovis Carbon Neutrality Special Report

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