"Hyundai Wia Publishes Sustainability Report: Achieving Carbon Neutrality at Workplaces by 2045"

Hyundai Wia published its '2024 Sustainability Report' on the 25th, outlining its goal to achieve carbon neutrality at all business sites by 2045.

This time, Hyundai Wia announced its goal to respond more actively to climate change. First, to achieve carbon neutrality by 2045, it plans to reduce carbon emissions to 55% of the current level by 2030 and further reduce them to 20% by 2040. To this end, Hyundai Wia will continuously expand the purchase of renewable energy at all domestic and overseas business sites and actively utilize hydrogen energy.

Hyundai Wia 2024 Sustainability Report
[Photo by Hyundai Wia]

Last year, Hyundai Wia installed solar power facilities at Changwon Plant 1 and the Uiwang Research Center located in Uiwang, Gyeonggi Province. Hyundai Wia plans to invest more than 8.3 billion KRW by 2026 to secure 5,454 MWh of electricity annually through solar power generation. Overseas subsidiaries are promoting the transition to renewable energy through Power Purchase Agreements (PPA) for renewable energy electricity. The Indian subsidiary raised its renewable energy usage to about 28% of total electricity consumption last year.

In this report, Hyundai Wia also presented measures to help achieve carbon neutrality in the supply chain. This involves collecting carbon emission data from partners, establishing management processes, and monitoring them. In the mid to long term, Hyundai Wia plans to use an IT platform to collect and manage greenhouse gas emission information not only from primary partners but also from overseas partners. Additionally, it plans to encourage active participation in carbon neutrality activities by supporting education for partners and providing incentives.

A Hyundai Wia official said, "The Sustainability Report published by Hyundai Wia clearly shows Hyundai Wia's goal to grow together with all stakeholders," adding, "We will continue to strengthen ESG management and strive to create a company where everyone can grow together."