Hankook Tire achieved an A- score by CDP (formerly Carbon Disclosure Project) this year in the ‘Climate Change’ sector, underscoring 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 an 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 amounts 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 was also awarded a platinum medal by EcoVadis, one of the highest recognitions for achievements in the field of Corporate Social Responsibility. This medal is only awarded to companies in the top 1% of their industry sector. The company has also won the gold award at the 2020 Galaxy Awards organized by MerComm Inc., the highest accomplishment, with its CSR report 2019-20.
“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 of Hankook Tire America Corp. “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.”
