Hyundai Construction Publishes 'Sustainable Management Report' "Accelerating Global ESG Management"

Publication of 'Sustainable Management Report' Applying World Economic Forum (WEF) ESG Disclosure Framework
'Prosperity/Planet/People/Principle' 4P Promotion System
Strengthening Communication with Internal and External Stakeholders through Expanded Global-Level ESG Disclosure
Includes 'Coal Phase-Out Declaration Stakeholder Letter' Decided by Board Resolution
Securing Competitiveness by Accelerating Renewable Energy and Eco-Friendly Businesses Linked to Future Business Strategy

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering & Construction is accelerating its global ESG management under the vision of creating a sustainable foundation for humanity.

On the 25th, Hyundai Engineering & Construction announced that it has published the 2021 Sustainability Management Report, which includes the company's four major sustainability management goals and twelve detailed implementation strategies.

This report is the first in the construction industry to be structured based on the World Economic Forum (WEF)'s ESG disclosure framework of ▲Prosperity ▲Planet ▲People ▲Principle, the '4P promotion system,' reflecting detailed initiatives and non-financial performance in areas such as strengthening global competitiveness, responding to climate change, enhancing safety and health compliance, and reinforcing value chain capabilities.

In particular, aiming to expand ESG management to a global level, the report not only applies the existing GRI Comprehensive option but also incorporates global ESG disclosure guidelines such as TCFD recommendations, SASB, and WEF metrics, and applies the international assurance standard (AA1000AS) to enhance the reliability and quality of the company's non-financial information and content.

Additionally, it is characterized by reflecting key issues centered on stakeholders through expanded communication with internal and external stakeholders.

Hyundai Construction '2021 Sustainability Management Report'.

Earlier, in October last year, Hyundai Engineering & Construction launched the ‘Hyundai Engineering & Construction Sustainability Management Council’ to internalize sustainability management at the company-wide level, systematically promote sustainability management strategies, and strengthen competitiveness. Through this, ESG sector-specific improvement tasks are discussed, and important ESG matters are reported to the Transparency Management Committee under the Board of Directors.

Hyundai Engineering & Construction formalized its internal policy by including the ‘Coal Phase-out Declaration Stakeholder Letter,’ decided by the Board resolution, in the sustainability management report, officially excluding participation in new projects related to coal investments and construction both domestically and internationally.

Going forward, as a global construction leader and an important member of the international community, the company deeply empathizes with the climate change crisis facing humanity and plans to proactively respond to internal and external management environments by transitioning to eco-friendly and low-carbon industrial infrastructure, accelerating the shift to renewable energy and eco-friendly businesses linked to future business strategies.

Yoon Young-jun, President of Hyundai Engineering & Construction, stated, “While focusing all efforts on securing core technologies and promoting new businesses such as construction automation, smart cities, renewable energy, and eco-friendly initiatives, we will further strengthen our fundamental EPC competitiveness and transform into a ‘Total Solution Creator’ covering all construction areas from investment development to operation, thereby solidifying Hyundai Engineering & Construction’s sustainability and leading future markets.”