South
Korean carmakers Hyundai Motor and Kia will join a global clean energy
initiative and will transition to 100 percent renewable energy by 2050, the
firms’ parent Hyundai Motor Group said Wednesday.
The automakers and three other units under the group will submit applications
to become members of the RE100, a global initiative of companies and
institutions committed to source 100 percent of energy it needs from renewable
sources by 2050. The three others are Hyundai Mobis, Hyundai Wia and Hyundai
Transys.
In a press release announcing the decision, Hyundai Motor Group said it will
strive to achieve the goal early from 2040 onward — ahead of RE100’s 2050
deadline — depending on each company’s business conditions, energy supply and
demand conditions.
The companies will deploy various measures to reduce its dependence on fossil
fuels and expand the use of clean energy, such as installing solar panels at
their own facilities or buying electricity generated from renewable sources via
power procurement agreements or the Korea Electric Power Corp.’s green premium
program.
The group said the companies will also strive to nurture eco-friendly
technologies and introduce more green cars to contribute to the global climate
change action.
“The decision to join the RE100 club underscores our strong determination to
attain net-zero carbon emissions,” said an official from the group. “Hyundai
Motor Group will continue to move forward by carrying out social responsibility
with its role in the global community and achieve sustainable development.”
Launched by the British nonprofit organization Climate Group in 2014, the RE100
has over 310 member companies as of end-June, including globally leading
corporations such as Google, Apple and General Motors.
Each company makes a pledge to realize a goal of using 100 percent renewable
energy by 2050 and is obliged to come up with an execution plan within the
first year of entry. The Climate Group gives annual updates on the members’
progress.
Eight SK Group companies, including SK hynix, became the first to join the club
from South Korea in December last year. Korean presence has since grown, with
the addition of Amorepacific, Hanwha Q Cells, LG Energy Solution and others.
Hyundai Motor generates an annual 13,000 MWh of electricity from solar panels
installed on the roof of its Asan plant and an additional 12,500 MWh at a solar
power facility set up last year at its Ulsan factory.
Kia, in 2019, has established a system to replace all power used at its
Slovakia plant with renewable energy, while Hyundai Mobis has switched fully to
renewables with its operations in Slovakia and Sweden earlier this year.
At the P4G Seoul Summit in May, Hyundai Motor Group Chairman Chung Euisun said
taking concrete action is of “utmost importance” in tackling the climate change
crisis.
“Our group will cooperate to achieve the global goal of carbon neutrality in
all processes of vehicle production up to its disposal,” Chung said.