Hyundai Steel Sustainability Profile
Hyundai Steel Co., Ltd., commonly referred to as Hyundai Steel, is a leading player in the global steel industry, headquartered in South Korea (KR). Established in 1953, the company has grown significantly, marking key milestones such as the launch of its first integrated steel mill in 1973. Hyundai Steel operates primarily in the production of high-quality steel products, including hot-rolled and cold-rolled steel sheets, as well as steel pipes and rebar. Its commitment to innovation and sustainability sets it apart in a competitive market. With a strong presence in Asia and beyond, Hyundai Steel has solidified its position as a top-tier steel manufacturer, recognised for its advanced technology and efficient production processes. The company continues to achieve notable milestones, contributing to its reputation as a reliable supplier in various industries, including construction and automotive.
DitchCarbon Score
How does Hyundai Steel's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Iron and Steel Production industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Hyundai Steel's score of 27 is higher than 57% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hyundai Steel's reported carbon emissions
In 2023, Hyundai Steel reported total carbon emissions of approximately 29,269,000,000 kg CO2e, comprising 26,679,000,000 kg CO2e from Scope 1 and 2,590,000,000 kg CO2e from Scope 2 emissions. Additionally, Scope 3 emissions were recorded at about 3,487,370,000 kg CO2e, with significant contributions from purchased goods and services (approximately 764,830,000 kg CO2e) and upstream transportation and distribution (around 1,339,780,000 kg CO2e). Hyundai Steel has made notable strides in reducing its carbon footprint, achieving a reduction of 27,058 tonnes of oil equivalent (TOE) in energy usage in 2008, which was double the reduction achieved in the previous year. This commitment to energy efficiency reflects the company's ongoing efforts to enhance sustainability across its operations. The emissions data is sourced directly from Hyundai Steel Company, with no cascaded data from parent or related organizations. The company has not specified any Science-Based Targets Initiative (SBTi) targets but continues to focus on reducing its energy consumption and emissions in the near term.
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| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 13,317,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | 5,480,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | - | - | - | - | - | - | - | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Hyundai Steel's Industry?
How Carbon Intensive is Hyundai Steel's Location?
Hyundai Steel's Scope 3 Categories Breakdown
Hyundai Steel's Scope 3 emissions, which increased by 40% last year and increased by approximately 120% since 2021, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 11% of total emissions under the GHG Protocol, with "Upstream Transportation & Distribution" being the largest emissions source at 38% of Scope 3 emissions.
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Hyundai Steel's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Hyundai Steel has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
