Meeting ESG Standards Required by Completed Vehicle Manufacturers
[Asia Economy Reporter Park Sun-mi] Hyundai Rotem's ESG (Environmental, Social, and Governance) management performance has been recognized by a global evaluation agency.
Hyundai Rotem announced on the 6th that it received the 'Bronze Medal' in the 2022 ESG evaluation conducted by EcoVadis, a global ESG evaluation agency. EcoVadis, established in France, is an ESG evaluation agency used by more than 100,000 companies in 175 countries worldwide. It assesses ESG performance in four areas based on international sustainability standards: environment, labor and human rights, ethics, and supply chain management.
By winning a medal in this EcoVadis ESG evaluation, Hyundai Rotem has expanded its opportunities to participate in the global smart mobility equipment market, including automotive production facilities such as presses and conveyor equipment. This is because, following the strengthening of ESG regulations related to supply chains, including the European Union's 'EU Supply Chain Due Diligence Directive' announced in February this year, automakers are increasingly requiring companies participating in their ordered projects, such as production facilities, to have a certain level of EcoVadis ESG evaluation scores.
By proactively meeting the qualification requirements for bidding on upcoming projects, it is expected that Hyundai Rotem's smart mobility equipment business will gain momentum.
A Hyundai Rotem official stated, "By obtaining the EcoVadis Bronze Medal, we have not only been recognized for our ESG management performance but also met the ESG standards required in the global market during business activities, establishing a foundation for sustainable growth." He added, "We will continue to focus on ESG management activities to realize non-financial value and strengthen the foundation for the company's long-term growth."
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