Hyundai Capital Approved for 'Greenhouse Gas External Reduction Project'

Hyundai Capital announced on the 14th that it has received final approval from the Ministry of Land, Infrastructure and Transport as a participant in the 'Greenhouse Gas External Reduction Project.'

This project is part of a government-led initiative aiming for net-zero greenhouse gas emissions by 2050. Companies that are not subject to greenhouse gas emission allocation can voluntarily reduce their greenhouse gas emissions and convert the amount reduced into emission permits for trading. Companies subject to greenhouse gas emission allocation are defined as those with an average annual greenhouse gas emission of 125,000 tons or more over three years or those owning at least one business site emitting 25,000 tons or more.

Hyundai Capital plans to certify the amount of greenhouse gas reduction based on the electric vehicles it owns. Instead of installing measurement devices inside the vehicles, it will utilize connected services from Hyundai Motor Company and Kia to receive data such as vehicle mileage and battery charging amounts. The project period extends until June 2034.

The acquired greenhouse gas emission permits will be monetized through Hyundai Motor Securities. As an emission permit trading brokerage firm, Hyundai Motor Securities is expanding related investments, which is expected to create synergy with Hyundai Capital. Hyundai Capital intends to use all profits gained from the greenhouse gas external reduction project as resources for corporate social responsibility (CSR) activities.

A Hyundai Capital representative stated, "We will continue to actively engage in ESG (Environmental, Social, and Governance) activities in line with Hyundai Motor Group’s sustainable mobility strategy and establish ourselves as a leading financial company in ESG management."