South Korea’s largest automaker Hyundai Motor should speed up its efforts in changing its business portfolio toward carbon-neutral in order to avert a major blow in the global market within a year or two, according to senior Greenpeace activist Jude Lee.
In the EU market only, Hyundai may face around 300 million euro ($3.3 million) in penalties from 2021 if current business portfolio remain unchanged, according to London-based research firm JATO.
The 173 multinational companies that make the commitment to go 100 percent renewable, including Apple and Google, are pushing their suppliers to follow suit. Apple, BMW and Volkswagen have all begun to pressure their Korean suppliers — including SK hynix, LG Chem and Samsung SDI — to expand their use of renewable energy….
An excerpt from The Investor