- Hyundai and Kia have introduced a Supplier CO2 Emission Monitoring System (SCEMS) on the Hedera network.
- Both are utilizing blockchain and AI technology to compute carbon emissions at every stage of the supply chain.
- The partnership with the Hedera network ensures the highest level of data security and scalability
Hyundai Motor Company and Kia Corporation have taken a significant step towards sustainability by introducing the Supplier CO2 Emission Monitoring System (SCEMS) on the Hedera network. This AI-enabled, blockchain-based system aims to compute carbon emissions at every stage of the supply chain. It intends to contributes to the fight against climate change.
The Significance of Reducing Carbon Emissions and Transparent Sustainability Data
Addressing carbon emissions is crucial in combating climate change, and businesses play a pivotal role in this effort. Accurate and transparent sustainability data is essential for companies to set meaningful carbon reduction targets and make informed decisions to create a more sustainable future.
Hyundai Motor and Kia Corporation’s Commitment to Sustainability and Partnership with Hedera
Hyundai and Kia are well-known automotive giants committed to sustainability. Their strategic partnership with the Hedera network reinforces their dedication to leveraging cutting-edge technology to advance sustainable practices.
The SCEMS is a revolutionary tool that allows Hyundai and Kia to collect reliable data from their suppliers’ business operations, including procurement, manufacturing, and transportation. By integrating blockchain and AI technology, the system enables accurate predictions of future carbon emissions. It also facilitates the establishment of realistic and impactful carbon reduction goals.
Benefits of Implementing the SCEMS
The adoption of the SCEMS offers several benefits for both Hyundai, Kia, and the environment. It ensures compliance with local and global environmental regulations, fosters sustainable supply chains, and empowers companies to make data-driven decisions for environmental responsibility.
Data Security and Scalability with Hedera Network
Hyundai and Kia’s partnership with the Hedera network ensures the highest level of data security and scalability for their CO2 emission monitoring system. Blockchain technology provides a tamper-resistant and transparent data ledger, ensuring the integrity of the collected data.
The involvement of the HBAR Foundation highlights the broader positive impact of blockchain technology on environmental initiative. Hyundai and Kia’s initiative serves as a model for other companies to adopt innovative blockchain solutions for sustainable practices. Such endeavors can accelerate the global transition to a greener and more environmentally responsible future.