In 2024, Hyundai Steel 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 Steel has also provided a category-level breakdown for 12 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 | 26,746,000a | 26,856,000a | 25,907,000a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 2,478,000a | 2,810,000a | 2,594,000a | |
Total Scope 3 | 5,909,657a | 3,487,370a | 2,491,360a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1,689.769a | 1,324.2518a | 1,194.1784a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Hyundai Steel amounted to 29,224,000 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 Steel decreased by 1.49%, 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 Steel were 26,746,000 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Hyundai Steel's Scope 1 emissions have decreased by 1.54%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Hyundai Steel's Scope 1 emissions remained relatively stable, indicating that Hyundai Steel's emissions have plateaued with no significant change in its operational footprint.a
In 2024, Hyundai Steel reported Scope 2 greenhouse gas (GHG) emissions of 2,478,000 tCO₂e without specifying the calculation method.a
Since 2019, Hyundai Steel's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have decreased by 16.93%, reflecting a declining long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Hyundai Steel's Scope 2 emissions (Unspecified Calculation Method) fell by 11.81% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, Hyundai Steel reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Hyundai Steel reported 5,909,657 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 Steel includes a breakdown across 12 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 Steel reported total Scope 3 emissions of 5,909,657 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 87.91% of these emissions originated from upstream activities such as purchased goods and capital goods, while 12.09% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), Hyundai Steel's Scope 3 emissions increased by 69.46%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Hyundai Steel reported emissions for 12 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 Steel's Scope 3 emissions were:a
In 2024, Hyundai Steel reported Scope 1 greenhouse gas (GHG) emissions of 26,746,000 tCO₂e and total revenues of USD 15,828 millions. This translates into an emissions intensity of 1,689.77 tCO₂e per millions USD.a
In 2024, Hyundai Steel reported a Scope 1 emissions intensity of 1,689.77 tCO₂e per millions USD. Compared to the peer group median of 1,537.36, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Hyundai Steel 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 Steel is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Hyundai Steel reported a total carbon footprint of 35,133,657 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 5.97% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Hyundai Steel's total carbon footprint was Scope 1 emissions, accounting for 76.13% of the company's total carbon footprint, followed by Scope 3 emissions at 16.82%.a