In a pivotal move towards eco-conscious supply chain management, Hyundai Motor Company, and Kia Corporation have unveiled an AI-enabled Supplier CO2 Emission Monitoring System (SCEMS), incorporating the highly scalable Hedera network.
The HBAR Foundation announced this groundbreaking collaboration in August 2023 to address climate change impacts by ensuring precise and transparent carbon emissions measurement and reporting.
1/ (@Hyundai Motor Group) @HMGnewsroom has announced the implementation of a Supplier CO2 Emission Monitoring System (SCEMS) – successfully integrated with #Hedera to ensure data integrity and transparency throughout their supply chains. @Kia @GenesisUSAhttps://t.co/4gNXlzolu1 pic.twitter.com/14yZn25EvC
— Hedera (@hedera) August 2, 2023
The SCEMS, built on blockchain and AI technology, revolutionizes carbon emission management. Its innovative design computes carbon emissions at every stage of the supply chain, offering a comprehensive view across procurement, manufacturing, and transportation. This advanced system enables Hyundai and Kia to reliably gather emissions data from their business partners, facilitating data-driven sustainability initiatives.
The effectiveness of Hedera’s high-performance network has been rigorously tested and verified by Hyundai and Kia. By integrating this energy-efficient technology, automakers could efficiently collect and securely manage carbon emissions data, granting stakeholders and investors a transparent, auditable view of their sustainability progress.
Seung Hyun Hong, Head of the Materials Research and Engineering Center at Hyundai Motor and Kia stated,
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.
Blockchain and AI integration provides practical benefits for climate change mitigation efforts. Hyundai and Kia could set meaningful reduction targets by accurately predicting future carbon emissions and proactively complying with local and global environmental regulations.
The ultimate goal of Hyundai and Kia’s visionary initiative is to address climate change and establish sustainable supply chains proactively. The system aligns with their environmental stewardship and positions them to meet the demands of responsible consumerism.
Shayne Higdon, Co-founder and CEO of the HBAR Foundation, lauded the carbon emission monitoring system as a significant step in promoting global sustainability practices. Higdon stated that Hyundai Motors and Kia’s carbon emission monitoring system complements the sustainability efforts central to the HBAR Foundation’s mission. The CEO added, “We take pride in supporting carbon offset, traceability projects, and initiatives in climate markets, conservation, ESG, and energy, making the planet’s balance sheet transparent on the public ledger”.
