Hankook Tire gains CDP Carbon Management Sector Honors
The company gained the accolade during an awards ceremony on 13 March (Photo: Hankook Tire)
CDP Carbon Management Sector Honors for Hankook Tire & Technology (Hankook Tire). The Carbon Disclosure Project (CDP) Korea Committee hosted its Climate Change and Water Security Awards on 13 March. Based upon the CDP Climate Change Response Project’s evaluation of more than 23,000 global companies, the Committee acknowledged Hankook Tire within the Consumer Discretionary awards category. The tyre maker achieved an A- rating in the evaluation, one of only 25 Korean companies achieving this distinction.
Hankook Tire is no newcomer to CDP accolades. The company has previously gained Carbon Management Sector Honors five times and was also acknowledged in 2014 and 2015. Hankook Tire comments that these achievements underscore its “ongoing commitment to environmental sustainability.” Moreover, the CDP Supplier Engagement Leader Board’s listing of Hankook Tire in 2018 was the first for a Korean company.
Commitment to sustainability
Hankook Tire attributes its success to a commitment to sustainability across its operations. Through initiatives like the Life Cycle Assessment (LCA) and the adoption of the E.Circle strategy, which focuses on creating a circular economy, the company aims to develop sustainable products. For instance, recently developed iON tyres contain 45 per cent sustainable raw materials.
Since 2010, sustainability has been a stated top priority for Hankook Tire. The establishment of an ESG committee in 2021 and the launch of a 2050 Carbon Neutral Roadmap in 2022 exemplify the company’s dedication to reducing greenhouse gas emissions. These efforts have garnered recognition from various institutions, including ISCC PLUS certification and approval for greenhouse gas reduction goals from the Science Based Targets initiative (SBTi).
The Carbon Disclosure Project (CDP), founded in the UK in 2000, plays a crucial role in evaluating companies’ environmental management. Its annual reports on climate change surveys serve as a benchmark for ESG evaluation agencies and financial institutions, guiding investment decisions globally.
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