In 2024, Hyundai Motor completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Hyundai Motor has also provided a category-level breakdown for 11 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 679,822a | 696,590a | 719,949a | |
Total Scope 2 | ||||
Market-Based | 1,417,987a | 1,579,161a | 1,684,120a | |
Location-Based | 1,726,829a | 1,831,531a | 1,853,813a | |
Total Scope 3 | 147,253,154a | 148,126,153a | 137,935,453a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 5.6928a | 5.4722a | 6.3828a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Hyundai Motor amounted to 2,406,651 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Hyundai Motor decreased by 4.8%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Hyundai Motor were 679,822 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, Hyundai Motor's Scope 1 emissions have decreased by 6.1%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Hyundai Motor's Scope 1 emissions decreased by 2.41%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Hyundai Motor reported Scope 2 greenhouse gas (GHG) emissions of 1,417,987 tCO₂e using the market-based method and 1,726,829 tCO₂e using the location-based method.a
Since 2021, Hyundai Motor's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have remained relatively stable, indicating that Hyundai Motor's emissions have plateaued with no significant change in its energy consumption footprint.ab
Compared to the previous year (2023), Hyundai Motor's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Hyundai Motor's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Hyundai Motor reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Hyundai Motor reported 147,253,154 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Hyundai Motor includes a breakdown across 11 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Hyundai Motor reported total Scope 3 emissions of 147,253,154 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 17.01% of these emissions originated from upstream activities such as purchased goods and capital goods, while 82.99% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2021, Hyundai Motor's Scope 3 emissions have increased by 14.37%, reflecting a rising long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Hyundai Motor's Scope 3 emissions remained relatively stable, indicating that Hyundai Motor's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Hyundai Motor reported emissions for 11 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to Hyundai Motor's Scope 3 emissions were:a
In 2024, Hyundai Motor reported Scope 1 greenhouse gas (GHG) emissions of 679,822 tCO₂e and total revenues of USD 119,418 millions. This translates into an emissions intensity of 5.69 tCO₂e per millions USD.a
In 2024, Hyundai Motor reported a Scope 1 emissions intensity of 5.69 tCO₂e per millions USD. Compared to the peer group median of 5.57, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Hyundai Motor ranked 14 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Hyundai Motor is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Hyundai Motor reported a total carbon footprint of 149,659,805 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 0.66% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Hyundai Motor's total carbon footprint was Scope 3 emissions, accounting for 98.39% of the company's total carbon footprint, followed by Scope 2 emissions at 1.15%.a