Hyundai Mobis Accelerates 2030 GHG Reduction Targets

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• Hyundai Mobis secured SBTi approval for its 2030 target to reduce greenhouse gases by nearly half (46%) compared to 2019 levels
• This is expected to positively impact the company's global order competitiveness, including meeting UK electric vehicle grant eligibility criteria
• The company is expanding its renewable energy transition (RE100) by installing solar power at domestic and international facilities...also strengthening activities to support systematizing GHG management for partners

, /PRNewswire/ -- Hyundai Mobis (KRX 012330) has newly set greenhouse gas reduction targets for 2030 and obtained approval for them from Science Based Targets initiative (SBTi). This is the result of the company presenting achievable reduction targets and implementation methods for the next five years and comprehensively demonstrating them.

Hyundai Mobis' mid-to-long-term GHG reduction plan aligns with strengthened sustainability policies in Korea and various countries worldwide. By satisfying this essential condition supporting global orders, the company can now expect favorable effects in terms of mobility competitiveness.

Hyundai Mobis announced on 24 that its GHG reduction targets have been approved by the Science Based Targets initiative (SBTi).

SBTi is a global organization jointly established by the Carbon Disclosure Project (CDP), the UN Global Compact (UNGC), and others. It scientifically verifies corporate GHG reduction targets based on the Paris Agreement on climate change.

Hyundai Mobis received approval for its GHG reduction targets through 2030, an intermediate step toward achieving carbon neutrality by 2045. The company's reduction plans for both domestic and international business sites, as well as the supply chain, simultaneously passed the review. Consequently, Hyundai Mobis' GHG reduction over the next five years is projected to be 46% lower than the 2019 baseline, nearly halving emissions.

Through this verification, Hyundai Mobis secured approval for its near-term goal to reduce absolute Scope 1 and 2 GHG emissions from its operations by 46% by 2030. For Scope 3 emissions from purchased goods and services, the company aims to achieve a 55% reduction per million KRW of value added within the same timeframe.

This SBTi approval is also expected to positively impact the company's global order competition. With SBTi verification now included in the UK's electric vehicle grant requirements, global automakers are increasingly favoring automotive suppliers with SBTi approval.

■ Hyundai Mobis on track to achieve its 2040 RE100 goal for domestic and international facilities...also increasing efforts to support partners in systematizing GHG management

Hyundai Mobis has established a concrete carbon neutrality strategy, setting a target to increase the proportion of renewable energy used at its domestic and international facilities to 65% by 2030 and 100% by 2040. To achieve this, the company is implementing RE100 by establishing separate timelines for each country and facility.

In Korea, the company is installing solar power generation facilities at its key sites like the Daegu and Ulsan plants and the Yeongnam Logistics Center, rapidly advancing the shift to low-carbon energy. Overseas, it is expanding the installation of solar facilities at its sites in India and elsewhere.

Additionally, Hyundai Mobis is increasing its renewable energy share through various methods, including signing renewable energy purchase agreements and purchasing certificates. The company's facilities in Slovakia, Brazil, and Turkey have already completed their transition to 100% renewable energy.

To reduce GHG emissions in its supply chain, Hyundai Mobis is supporting its partners in systematizing their GHG management and expanding the purchase of low-carbon raw materials. Last year, the company expanded its supply chain scope to include overseas partners when conducting third-party verification of GHG emissions from both domestic and international partners and disclosing the results. Building on this, the company plans to establish GHG management strategies tailored to emission characteristics to drive effective reductions.

Meanwhile, Hyundai Mobis has declared carbon neutrality based on its 'Green Transformation to 2045 Net-Zero' vision, establishing a roadmap to practice environmental management. The company regularly reports its renewable energy transition targets and performance to its Sustainability Management Committee and is strengthening its practical implementation efforts.

About Hyundai Mobis

Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China, and India. For more information, please visit the website at http://www.mobis.com.

Media Contact 

Choon Kee Hwang : [email protected]

Jihyun Han : [email protected]