Hankook participating in Project TREE

Project TREE is the first attempt to establish natural rubber traceability using blockchain, and the UK is the first market where consumers can buy tyres containing verifiable sustainable rubber. Following the launch of traceable Pirelli tyres earlier this month, Hankook Tire & Technology is now distributing tyres manufactured through the project.

As a supporter of Project TREE, Hankook will participate in the project in the UK market in partnership with its “trusted partner” and parent company of Kwik Fit and Stapleton’s Tyre Services, European Tyre Enterprise Ltd. (ETEL). A portion of tyre sales will go towards funding incentives for upstream supply chain stakeholders, such as smallholders, collectors, local dealers, who collaborate to record their transactions and ensure traceability.

In line with CSR goals

Hankook looks forward to Project TREE contributing towards its CSR policy goals. The company established a sustainable natural rubber policy in 2018 and is a member of Global Platform for Sustainable Natural Rubber (GPSNR), an international membership-driven platform set up to define sustainability for the natural rubber value chain.

Recently, Hankook updated its policy in compliance with the new GSPNR policy across diverse fields such as human rights, environmental protection, and management transparency. In order to further improve smallholders’ living standards, upgrade quality of natural rubber and minimise environmental impact, the tyre maker plans to identify the most suitable cultivation practices and encourage smallholders to receive related training.

All stakeholders must fulfil responsibilities

“As the demand for natural rubber is expected to continue to grow, all stakeholders in the supply chain, including smallholders, tyre makers, and end-users, are expected to fulfil their responsibilities,” says Sooil Lee, president and chief executive officer of Hankook Tire & Technology. “With sustainability being one of their business priorities, Hankook will definitely take the lead in fostering sustainability in procurement of raw materials to create a better world to live in.”