Received 'A (Excellent)' and 'AA (Outstanding)' Ratings from Two Leading Domestic ESG Evaluation Agencies
[Asia Economy Reporter Hwang Yoon-joo] Hyundai Energy Solutions, a solar energy subsidiary of Hyundai Heavy Industries Group, has consecutively received the highest industry ratings in evaluations conducted by leading domestic ESG (Environmental, Social, and Governance) assessment agencies.
Hyundai Energy Solutions announced on the 13th that it recently earned an ‘A (Excellent)’ rating, the highest grade in the solar solutions industry, in the ‘2021 Listed Companies ESG Evaluation’ released by the Korea Corporate Governance Service.
This evaluation marks the first ESG management assessment Hyundai Energy Solutions has received from the Korea Corporate Governance Service since its KOSPI listing in 2019. The Korea Corporate Governance Service, a nonprofit organization under the Korea Exchange, is regarded as the most credible ESG evaluation agency in South Korea.
Additionally, Hyundai Energy Solutions received the highest overall rating of ‘AA (Outstanding)’ in the ‘2021 Second Half ESG Evaluation’ conducted by Sustainvest, one of the country’s leading ESG evaluation and analysis institutions. This rating represents a two-level improvement compared to the evaluation in the first half of this year.
Hyundai Energy Solutions explained that “this recognition reflects the company’s various efforts focused on ESG management, including strengthening eco-friendly innovation capabilities for the future, supply chain management, and enhancing transparency through disclosure of management performance.”
Meanwhile, Hyundai Energy Solutions established an ‘ESG Committee’ in May this year to lead the formulation of the company’s ESG strategy and strengthen related capabilities. In June, the company also produced its first integrated report to transparently communicate Hyundai Energy Solutions’ ESG management performance to customers and investors.
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