Hyundai Mobis has announced its roadmap to Net-Zero under a vision of 'Green Transformation to 2045 Net-Zero.'
As per the press release from the company, it has recently joined the Science Based Targets initiative (SBTi) for the first time in the Korean automobile industry to go further and faster on the road to reach its 2045 destination.
Along with SBTi, Hyundai Mobis is also participating in global campaigns for net-zero, including RE100 (Renewable Energy 100%) and Business Ambition for 1.5°C in partnership with the Race to Zero.
The SBTi is a global campaign offering companies a way to set verified decarbonisation targets with long-term emissions reduction plans. By joining the initiative, Hyundai Mobis will receive certification in two years based on strategic tracking of the company's goals.
By 2030, Hyundai Mobis aims to reduce greenhouse gas emissions by 30% compared to its 2019 level, switch the electricity used in its global sites to renewable energy by 2040 and achieve net-zero across its entire supply chain by 2045.
The roadmap includes phased implementation strategies from the workplace to supply chains/product value chains and local communities. Development of innovative technologies and expansion of carbon reduction products based on life cycle assessment are examples of implementation plans.
According to the roadmap, known to be reported to the board of directors on the 10th, Hyundai Mobis will accelerate its efforts with the four major strategies, including reducing workplace carbon emissions through energy conversion, systematic supply chain management, expanding low carbon products in line with the paradigm shift, and managing sustainable partnerships to create a green ecosystem.