Hyundai Steel

Hyundai Steel, a South Korean company in the basic iron and steel industry, reported total Scope 1, 2, and 3 emissions of approximately 32.75 billion kg CO2e in 2023. This includes about 26.68 billion kg CO2e from Scope 1 emissions, approximately 2.59 billion kg CO2e from Scope 2 emissions, and roughly 3.49 billion kg CO2e from Scope 3 emissions.

In 2022, Hyundai Steel's Scope 1 emissions were approximately 25.91 billion kg CO2e, Scope 2 emissions were around 2.59 billion kg CO2e, and Scope 3 emissions were about 2.49 billion kg CO2e.

Looking back to 2021, Scope 1 emissions stood at approximately 25.86 billion kg CO2e, Scope 2 emissions at roughly 2.63 billion kg CO2e, and Scope 3 emissions at about 1.59 billion kg CO2e. In 2020, Hyundai Steel reported Scope 1 emissions of approximately 25.97 billion kg CO2e and Scope 2 emissions of around 2.66 billion kg CO2e.

Hyundai Steel has set a near-term net-zero target, aiming to reduce its Scope 1 and 2 emissions by 42% from 2018 baseline levels by 2030. The company plans to achieve net-zero emissions by 2050, utilising carbon credit trading, carbon capture, utilisation, and storage (CCUS) technology, and other initiatives to offset unavoidable residual emissions. Historically, Hyundai Steel also achieved a significant reduction in energy usage in 2008, decreasing energy consumption by 27,058 TOE, which was twice the reduction achieved in 2007.