Hyundai and Kia Unveil CO2 Emission Monitoring System Built on Hedera
From material acquisition to product transportation, the blockchain-based system allows automakers to track carbon emissions at each point of the supply chain.
Growing blockchain utility: Hyundai and Kia to track carbon emissions with Hedera
Hyundai Motor Company and Kia Corporation have revealed an AI-powered, blockchain-based Supplier CO2 Emission Monitoring System (SCEMS) to manage their business partners' carbon emissions via the highly scalable Hedera network.
Reduced carbon emissions, according to Hyundai, is a key step towards mitigating the effects of climate change. To do so, sustainability data must be measured, verified, and published accurately and transparently. SCEMS, designed to compute carbon emissions at every stage of the supply chain, can help automakers obtain reliable data across their suppliers' business activities, such as raw material acquisition, production, and goods transportation.
Hyundai and Kia have previously validated the usefulness of Hedera's high-performance network and implemented it to collect carbon emissions data quickly and securely, providing stakeholders and investors with visibility and trust in the results.
"Supplier CO2 Emission Monitoring System unlocks a revolutionary approach to managing carbon emissions and combating climate change, ushering in a new era of sustainable supply chain within our cooperative network," said Seung Hyun Hong, Head of Materials Research and Engineering Center at Hyundai and Kia. "We stand proudly at the forefront of this transformative journey, collaborating with our partners to shape a greener and brighter future for all."
Implementing AI tech with Hedera – a blockchain network powered by the HBAR Foundation – also contributes to real climate change mitigation efforts. It allows for accurate prediction of future carbon emissions, which is vital when setting meaningful carbon reduction targets.
"Hyundai Motors and Kia's carbon emission monitoring system builds upon the sustainability work that is one of the key pillars of the HBAR Foundation's mission. We are proud to support a number of carbon offset and traceability projects that have been onboarded to the Hedera network, as well as climate markets, and projects in conservation, ESG, and energy that enable us to bring the balance sheet of the planet to the public ledger," said Shayne Higdon, Co-founder and CEO of the HBAR Foundation.
With this innovative system, Hyundai and Kia hope to address climate change issues by preemptively meeting local and global environmental legislation, as well as building sustainable supply chains within the firms and their cooperative partners.