Hankook Tire is committed to enhance the competitive edge by preventing business-related risks caused by climate change and thus turning each crisis into opportunity.
Increasing GHG emissions are causing global impacts such as changes in ecosystem and sea level rise. In response, since the Paris Agreement took effect on November 4, 2016, the entire global community has been involving in responding to climate change, and companies are further required to fulfill their roles and responsibilities for curbing global temperature increases within 2℃ against the pre-industrialized level.
Risk & Opportunities
The increasing production volume driven by continuous plant extensions such as the establishment of a new plant in Tennessee of the U.S. makes us need more energy consumption, resulting in elevating production costs and facing GHG emissions reduction obligation due to tightening regulations in each country. Meanwhile, introducing high energy-efficiency facilities, expanding energy recycling, and replacing energy resources with low carbon fuels and electricity will have positive effects such as enhancing competitiveness and brand value.
We will never spare our investments or endeavors to reach our goal in reducing GHG emissions and strive to replace energy sources with eco-friendly ones to restrict the use of fossil fuel in the long term, contributing to the prevention of global warming. The improvement goal setup and execution are quarterly managed by the Climate Change Committee and our annual GHG emissions and activities against climate change are disclosed through CDP1).
1) CDP (former Carbon Disclosure Project): A project and institution name aimed at evaluating global major listing companies’ responses to environmental issues such as climate change, water, and forest resources, which is used as an investment guide for global financial institutions
Climate Change Committee
• Chaired by: Machinery Engineering Department Director
• Supervised by: Machinery Engineering Team 3
• Members: CSR Team, Global Facility Maintenance Operations Team, Facility Maintenance Team of each plant, MP)EHS Team, R&D Corporate Management Team
Plans & Outlooks
We will set detailed plans to reach our mid- to long-term GHG emissions reduction targets and take methodical actions, while continuously reviewing the introduction of alternative energy sources to shift our long-term energy use portfolio.