Hyundai Elevator Announces Net-Zero Goal

Hyundai Elevator pledged to achieve carbon neutrality by 2050, in a report it released Monday, The Korea Times reports. The report shows the company’s efforts between 2022 and 2023 to pursue management with consideration of the principles of environmental, social and corporate governance (ESG). The ESG report is comprised of three parts: ESG management, ESG progress and an ESG fact book. In the report, the Hyundai Group affiliate mentioned its vision and strategies for ESG, as well as its declaration of carbon neutrality by 2050, based on the Science Based Targets initiative’s (SBTi) campaign to limit global warming to 1.5° Celsius. SBTi is a global body enabling businesses to set emissions reduction targets in line with climate science. To achieve net zero by 2050, Hyundai Elevator seeks a 71% reduction in its carbon emissions by 2040 and a 42% reduction by 2030, compared to 2022. For this goal, the elevator firm will install additional solar power generation facilities, increase reliance on electric and hybrid vehicles and carry out campaigns to save energy.