Hyundai Motor, along with Kia Corporation, has successfully delivered their blockchain-oriented Supplier CO2 Emission Monitoring System (SCEMS) on the Hedera mainnet. This goes in favor of the latter and brings into focus two important issues. The first is that the network is recognized by businesses as going over and above the Governing Council. The second factor is related to data accuracy as well as safety aspects of Hedera, which is unquestionable.
SCEMS has been created with the intention of calculating carbon emissions throughout the entire supply chain. This provides the opportunity for Kia and Hyundai Motor to gain access to dependable data throughout its supplier’s activities. This includes raw-material sourcing, the production process, and the transportation of products.
According to the Head of the Materials Research and Engineering Center at Hyundai Motor and Kia, Seung Hyun Hong, it is the blockchain technology that is responsible for controlling carbon emissions and tackling climate change issues. In his opinion, this will help in bringing in a fresh phase of manageable supply chains in their cooperative network. The company’s goal is to lessen its carbon footprint and to make that happen. It is imperative that the connected data remains true and authenticated. SCEMS incorporates AI technology which helps in keeping track of carbon emissions along the way.
AI technology, along with the able Hedera network, makes it possible for Kia, Hyundai Motor, and their associates to abide by the environmental norms set down and set up manageable supply chains. SCEMS ensures that the stakeholders, regulators, and investors are always exposed to true data. Targets regarding the lessening of carbon emissions are set for all the associates to create further effectiveness. Their multi-year institutional ESG strategy also plays a significant role in the robust growth of the ecosystem.
The Group- Hyundai Motor is an international corporation that has established a value chain centered on logistics, mobility, steel, IT, construction, finance, and service. The Group’s portfolio of mobility brands, namely Kia, Hyundai, and Genesis, is represented by a workforce of approximately 250,000 employees across the globe.
The HBAR Foundation provides backing and assistance to developers who are creating Web3 communities on the Hedera network, empowering them to build and foster these communities through financial support.