Hyundai Steel

Hyundai Steel, a prominent player in the basic iron and steel industry headquartered in KR, is committed to addressing its carbon emissions and climate impact. For the reporting year 2023, the company reported Scope 1 emissions of approximately 26.68 billion kg CO2e, Scope 2 emissions of approximately 2.59 billion kg CO2e, and Scope 3 emissions of approximately 3.49 billion kg CO2e. The combined total for Scope 1 and 2 emissions in 2023 was approximately 29.27 billion kg CO2e.

Looking back, Hyundai Steel reported Scope 1 emissions of approximately 25.91 billion kg CO2e and Scope 2 emissions of approximately 2.59 billion kg CO2e for the 2022 reporting year. In 2021, Scope 1 emissions were approximately 25.86 billion kg CO2e, with Scope 2 emissions at around 2.63 billion kg CO2e. For the 2020 reporting year, Scope 1 emissions were approximately 25.97 billion kg CO2e and Scope 2 emissions were approximately 2.66 billion kg CO2e. In 2019, the company's Scope 1 emissions were approximately 16.44 billion kg CO2e and Scope 2 emissions were approximately 5.80 billion kg CO2e.

Hyundai Steel has set a significant near-term climate target: to reduce Scope 1 and 2 emissions by 42% from 2018 baseline levels by 2030. Beyond this, the company aims to achieve net-zero emissions by 2050. This ambitious goal will be pursued through various strategies, including carbon credit trading, carbon capture, utilization, and storage (CCUS) technology, and other relevant initiatives for any residual emissions that cannot be eliminated by 2050. The company also reported achieving a reduction of 27,058 TOE in energy usage in 2008, which represented a doubling of the reduction achieved in the previous year, encompassing both Scope 1 and Scope 2 emissions.