The HBAR Foundation has announced that Hyundai Motor Company and Kia Corporation have introduced a cutting-edge solution that utilizes AI and blockchain technology to establish a sustainable supply chain with their business partners. This system, known as the Supplier CO2 Emission Monitoring System (SCEMS), operates on the highly efficient and scalable Hedera network.
Addressing climate change requires a concerted effort to reduce carbon emissions, and accurate and transparent measurement, verification, and reporting of sustainability data are crucial to achieving this goal. SCEMS has been purposefully designed to calculate carbon emissions at every stage of the supply chain, ensuring that auto manufacturers have reliable data on their supplier’s business operations, including raw material procurement, manufacturing, and product transportation.
Hyundai Motor and Kia have successfully tested and adopted Hedera’s high-performance network, which allows them to promptly and securely collect carbon emissions data, thereby providing stakeholders and investors with visibility and confidence in the results.
The combination of blockchain and AI technology in managing carbon emissions facilitates practical efforts in mitigating climate change, as it enables accurate predictions of future carbon emissions, thereby aiding in the establishment of meaningful carbon reduction targets.
By implementing this innovative system, Hyundai Motor and Kia aim to proactively comply with local and global environmental regulations and establish sustainable supply chains within their organizations and with their cooperative partners, ultimately contributing to the broader fight against climate change.