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Hankook Tire highly recognized for its leadership in environmental sustainability management
- Assessed by an environmental non-profit CDP on disclosure, awareness, and management of climate change risks
- Stands as a dedicated eco-friendly company with strong Environmental, Social and Governance (ESG) principles
Seoul, Korea, December 17, 2020 – Global leading tire company Hankook Tire achieved A- score by CDP (formerly Carbon Disclosure Project) this year in ‘Climate Change’ sector, the demonstration of the company’s commitment to environmental sustainability management.
CDP is an international non-profit organization that assesses companies’ environmental transparency and action on climate change, forests and water security disclosures. Along with the Dow Jones Sustainability Index, the annual CDP report is deemed one of the most trusted indicators for environmental, social, and corporate governance. It scores companies from D- to A, with A and A- representing leadership level.
Hankook Tire received A- in CDP’s 2020 scoring results, demonstrative of the company’s leadership in environmental sustainability. Only companies recognized with excellent performance in climate change response activities, environmental risk management and related information disclosure can attain the leadership level.
The achievement underlines Hankook’s commitment to its CSR goals which include the use of 100% sustainable materials and a 50% reduction in greenhouse gas emissions by 2050 compared with 2018. The company also participates in sustainability initiatives with the United Nations Global Compact (UNGC) and promotes CSR-related policies such as the Sustainable Natural Rubber Policy.
Furthermore, Hankook is incorporating environment-caring efforts not only in production process but also in R&D. For example, Hankook has minimized the rolling resistance of tires to improve fuel efficiency of vehicles and ultimately reduce greenhouse gas emissions. The company also takes the lead in activities such as calculating greenhouse gas mitigation amount into monetary value and reflecting it in the investment process.
In addition to the recognition from the CDP, Hankook’s efforts in environmental sustainability resulted in several achievements this year. Hankook was not only named to the Dow Jones Sustainability Indices World for the fifth consecutive year, but also awarded a platinum medal by EcoVadis, one of the highest recognition for achievements in the field of Corporate Social Responsibility. The fact that this medal is only awarded to companies in the top 1% of their industry sector adds significance. The company has also won the gold award, the highest accomplishment, with its CSR report 2019-20 at the 2020 Galaxy Awards organized by MerComm Inc.
“It is indisputable that climate change is one of the most critical and urgent issues that the world is facing right now,” says Sooil Lee, President and COO of Hankook Tire & Technology. “As a responsible global corporate citizen, we will continue focusing on environmental disclosure and transparency as well as providing products that contribute to bringing a sustainable future closer.”