Hankook Tire recognized with Gold Class in S&P Global Sustainability Ratings
- Recognition given in context of the Sustainability Yearbook 2022 published by S&P Global
- Gold Award is the highest possible rating given to only top 1% within each industry sector
- Highlights Hankook Tire’s ongoing commitment to sustainable practices and ESG management
Seoul, Korea, February 10, 2022 – Global leading tire company Hankook Tire was awarded ‘Gold Class’ in the Sustainability Yearbook 2022 published by S&P Global.
S&P Global publishes the Sustainability Yearbook every year based on the S&P Dow Jones Sustainability World Index, widely regarded as one of the world's foremost sustainability indices. The Sustainability Yearbook 2022 considered 7,554 companies in 61 industries and then granted Gold, Silver, and Bronze Class awards to those selected for outstanding practices. The Sustainability Yearbook 2022 lists 75 Gold Class, 89 Silver Class and 106 Bronze Class companies.
The Gold Class is given to the top 1% of the companies assessed, and in the Auto Components industry, only two companies including Hankook Tire were confirmed the Gold Class. Hankook Tire was recognized as the top performer in the sector, scoring the highest score which was 78 points out of 100. Last year marked the sixth consecutive year Hankook was listed in the Dow Jones Sustainability Indices World, through which Hankook proved itself as a leader in environmental, social and governance (ESG) practices.
It traces back more than 10 years ago when Hankook Tire established an organization dedicated to CSR. Last year, Hankook Tire established a new ESG committee within the board of directors with the aim of strengthening its ESG management. Through eight subcommittees, the company is constantly sharing its vision of sustainability with all employees and improving its ESG performance. By setting challenging goals and collaborating with stakeholders, the company is carrying out a variety of activities to make a positive impact on the society.
Hankook’s efforts include fostering sustainable value chain. In 2018, Hankook Tire announced E-Circle declaration which is comprised of sustainable material technology development strategy, and established a sustainable natural rubber policy. In 2021, its natural rubber policy was updated in line with the Global Platform for Sustainable Natural Rubber (GPSNR) guide, and efforts are being made to build a more sustainable value supply chain and reduce environmental impacts throughout the life cycle. In the meantime, Hankook also continued donating tires and supporting vehicles to local social welfare institutions in an effort to create the world a better place.
“We are proud that we received the highest rating in sustainable practices. This recognition is a testimonial of our commitment to creating a more sustainable future,” says Sooil Lee, President and CEO of Hankook Tire & Technology.
“Furthering growth as a global leading tire company, we plan to manage our social, environmental, and financial performances to the highest global level.”