In a noteworthy move towards fostering a sustainable value chain, Hyundai Motor Company and Kia Corporation, the two largest automakers in South Korea have announced the introduction of an AI-enabled, blockchain-based Supplier CO2 Emission Monitoring System (SCEMS).
The system aims to effectively manage the carbon emissions of their cooperative business partners and promote responsible environmental practices throughout their supply chain.
Empowering Suppliers to Lead the Change in Carbon Emissions
The new Supplier CO2 Emission Monitoring System (SCEMS) relies on cutting-edge blockchain technology to ensure secure and accurate carbon emissions data collection at every stage of a cooperative partner’s supply chain. This approach guarantees data transparency and integrity, eliminating uncertainties and promoting a shared commitment to environmental sustainability.
By implementing AI technology and high-performance blockchain, Hyundai Motor and Kia enable their cooperative partners to efficiently monitor and manage carbon emissions within their respective workplaces.
This shift relieves suppliers from time-consuming tasks and empowers them to take proactive steps towards reducing their carbon footprint, setting ambitious carbon reduction targets, and predicting future emissions accurately.
Through the system, it is possible to secure reliable carbon emission data over the entire business operations of its suppliers, including raw material procurement, manufacturing processes and product transportation. The system’s next-generation technology will enable regulators, stakeholders and investors to have complete confidence in the accuracy of the data.
Collaboration for a Greener Future
With climate change becoming an urgent global concern, the automotive industry plays a crucial role in mitigating its impact. The new carbon emission monitoring system ensures reliable data collection throughout suppliers’ entire business operations, including raw material procurement, manufacturing processes, and product transportation.
Regulators, stakeholders, and investors can have full confidence in the accuracy of the data, encouraging transparency and accountability across the industry.
Seung Hyun Hong, Head of Materials Research and Engineering Center at Hyundai Motor and Kia, emphasizes their commitment to collaborating with partners in shaping a greener and brighter future for all.
He said ‘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. We stand proudly at the forefront of this transformative journey, collaborating with our partners to shape a greener and brighter future for all.’
Setting New Standards for Sustainability
This collaboration is setting new standards for sustainable practices in the automotive industry. By adopting advanced AI and blockchain technologies, they not only meet local and global environmental regulations but also actively work towards a greener and more sustainable future.
Climate change is a pressing global issue and the introduction of Hyundai and Kia’s blockchain-based Supplier CO2 Emission Monitoring System marks a significant milestone in the automotive industry’s efforts in combating it. By fostering a sustainable supply chain, empowering cooperative partners, and setting ambitious carbon reduction targets, they lead the charge towards a greener and more sustainable future.
