Hyosung Advanced Materials Recognized Globally as an Outstanding Company in Sustainable Management.
Wed Dec 29 16:58:56 KST 2021
Hyosung Advanced Materials received a ′Gold Medal Rating′ in the 2021 sustainability evaluation by EcoVadis, a global environmental, social and governance (ESG) evaluation organization.
Most notably, Hyosung Advanced Materials obtained a total score of 72, the highest in the gold rating, ranking in the top 3% of all global companies participating in the evaluation and in the top 1% in the textile industry to which the company belongs. .
Founded in 2007, EcoVadis based in Paris is a leading global research organization that evaluates and certifies global companies′ ESG policies. EcoVadis assesses more than 75,000 companies across more than 160 countries and 200 industries around the world in four categories such as environment, labor & human rights, ethics, and sustainable procurement to award eligible companies one of the four grades such as platinum (top 1%), gold (top 5%), silver (top 25%), and bronze (top 50%).
The result is all the more significant to Hyosung Advanced Materials in that its global performance, including that of its overseas business sites in Vietnam, China, Luxembourg, and Romania, was included in the scope of evaluation by EcoVadis for the first time. The outcome is attributed to the efforts of Hyosung Advanced Materials in the areas of climate change response, CSR activities, and ethical management across all its business sectors in its worldwide business sites.
Hwang Jung-mo, CEO of Hyosung Advanced Materials, said, ″I would like to attribute the positive outcome to the efforts of each committee in our global business sites to promote the same level of sustainability management activities as a company with the most valuable global brands in tire cords, automotive seat belt fabrics, and airbag fabrics. We will continue to promote sustainability management proactively to meet the needs of our various stakeholders.″
Meanwhile, Hyosung Advanced Materials establishes it ESG management strategies and promotes their realization not only in its green management but also in all its business activities through the CSR Committee directly under the CEO and affiliated specialized committees. In 2022, Hyosung Advanced Materials will set and implement its overall GHG reduction targets through the emission management system established in each of its overseas business sites to further strengthen its ability to respond to climate change.
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