Hyundai Motor and Kia Launch CO2 Emission Monitoring on Hedera Network
In Brief
Hyundai Motor Group, comprising Hyundai Motor Company and Kia Corporation, has introduced the Supplier CO2 Emission Monitoring System (SCEMS), using the Hedera to track and verify suppliers’ carbon footprints.
The system aims to improve environmental sustainability and social responsibility by ensuring accurate and secure data across the supply chain, from raw materials procurement to manufacturing and transportation.
This innovative use of blockchain technology exemplifies Hyundai’s commitment to a greener future and signifies a milestone for sustainability within the auto industry.
Hyundai Motor Group, which includes Hyundai Motor and Kia, has launched a Supplier CO2 Emission Monitoring System (SCEMS) that leverages the Hedera mainnet to track and verify the carbon footprint of its suppliers.
This system aims to enhance environmental sustainability and social responsibility by ensuring data accuracy and security across the entire supply chain, from raw materials procurement to manufacturing and transportation.
The Hedera mainnet is a public distributed ledger that offers high performance, low cost, and decentralized governance. With Hedera, Hyundai Motor Group aims to demonstrate its trust in the network’s capabilities and vision for a greener future.
“Blockchain technology holds the key to a revolutionary approach in managing carbon emissions and combating climate change, ushering in a new era of sustainable supply chains within our cooperative network,”
said Seung Hyun Hong, Head of Materials Research and Engineering Center at Hyundai Motor and Kia.
“As one of the largest car manufacturers in the world, Hyundai’s integration of Hedera marks a significant milestone for sustainability within the auto industry,” Hedera wrote on Twitter.
Reducing carbon emissions is crucial for mitigating climate change impacts. Therefore, accurate and transparent data measurement, verification, and reporting are essential.
SCEMS, incorporating AI technology and the Hedera network, enables Hyundai Motor, Kia, and their partners to meet environmental regulations and establish sustainable supply chains. This fosters confidence among regulators, stakeholders, and investors in the data, empowering them to set carbon reduction targets and forecast future emissions accurately.
What are the benefits of using blockchain technology for carbon emissions monitoring?
Blockchain technology enables decentralized and transparent data storage and verification. It facilitates carbon emissions monitoring through a digital ledger of a company’s carbon footprints, ensuring accountability and trust. In addition, blockchain allows the creation and trading of carbon credits, incentivizing greenhouse gas emission reduction.
Other motor companies are also leveraging blockchain. For instance, BMW partnered with Coinweb to integrate blockchain technology into its daily workflow and offer a blockchain loyalty program for its customers in Thailand.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
