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 triggering environmental issues, such as ecosystem changes and sea-level rise. Since the Paris Agreement took effect on November 4, 2016, many countries around the world have been taking part in efforts to respond to climate change. In this regard, the role of companies is becoming increasingly important in limiting the overall temperature increase to 1.5 degrees Celsius above pre-industrial levels. Governments are expected to tighten regulations on GHG emissions as the agreement goes into effect. Stricter regulations could lead to trade barriers and increased production costs, eroding market competitiveness. On the other hand, if we can maximize energy efficiency and transition to low-carbon fuels and electricity, it will bring benefits such as enhanced competitiveness and improved corporate brand value.
Since climate change is impacting the environment, ecosystem, and people, the issue involves diverse regions and stakeholders. Considering GHG emissions from raw materials, tire production, and product use perspectives, we should respond to climate change issues across the entire supply chain from supplier to customers.
We will do our utmost to reach our targets for GHG emissions reduction. As part of the efforts to address global warming issues, we aim for energy transition to green energy curbing the use of fossil fuels. Our activities are monitored in the quarterly Climate Change Committee and we provide information on our annual GHG emissions and responses to climate change and 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: Head of the Machinery Engineering Department
• Supervised by: Production Infrastructure Team
• Cooperation members: CSR Team, Facility Maintenance Team of each plant, MP)EHS Team, R&D Corporate Management Team
Future plan and mid-/long-term targets
A detailed plan will be prepared to achieve our 2030 GHG emissions reduction targets. We will continue our efforts to identify alternative energy sources and lay a foundation for energy transition. Currently, we are working on a plan for establishing an integrated platform for energy management that will allow us to remotely oversee energy use at all of our domestic and overseas plants and share technology on GHG emissions reduction.