- The new system calculates carbon emissions at every stage of the supply chain
- Kia and Hyundai aim to solve climate change problems with the system on Hedera
Hyundai Motor Company and Kia Corporation announced the launch of an AI-enabled Supplier CO2 Emission Monitoring System (SCEMS) to control their business partners’ carbon emissions using the scalable, energy efficient Hedera network, Bankless learned from a press release.
Carbon emission data must be measured, confirmed and reported accurately and transparently in order to reduce emissions, which is a key step in mitigating the impact of climate change.
Calculating emissions at every supply stage
The new system calculates carbon emissions at every stage of the supply chain, allowing Kia and Hyundai to secure reliable data through their suppliers’ business operations. This includes product transport, production, and procurement of raw materials.
Kia and Hyundai have verified Hedera’s performance and effectiveness and integrated the network to achieve the crucial goal of collecting carbon emission data promptly and securely. This gives investors and stakeholders confidence in the outcome. Seung Hyun Hong, Head of Materials Research and Engineering Center at Hyundai Motor and Kia commented:
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.
Shayne Higdon, Co-founder and CEO of the HBAR Foundation, added:
Hyundai Motors and Kia’s carbon emission monitoring system builds upon the sustainability work that is one of the key pillars of the HBAR Foundation’s mission.
Accurate predictions of emissions
By implementing AI and blockchain technology, one can manage carbon emissions more effectively. The tech alleviates climate change extenuation efforts by enabling accurate predictions of future carbon emissions, which is indispensable in the process of setting meaningful goals to reduce them.
Combating climate change
Kia and Hyundai aim to solve climate change problems with the new and innovative system. They hope it will help them comply with global and local environmental regulations and set up sustainable supply chains within their own frameworks as well as those of their partners.
