Hyundai Wia Wins 'Silver Medal' in Global ESG Evaluation

High Rating from Evaluation Agency EcoVadis

Hyundai Wia announced on the 28th that it has won the Silver Medal in the '2022 ESG Evaluation' conducted by EcoVadis, a global ESG (Environmental, Social, and Governance) rating agency.
Photo by Hyundai Wia

[Asia Economy Reporter Oh Gyumin] Hyundai Wia announced on the 28th that it has won the Silver Medal in the ‘2022 ESG Evaluation’ conducted by EcoVadis, a global ESG (Environmental, Social, and Governance) rating agency.

EcoVadis, established in France, is an ESG evaluation agency used by over 100,000 companies in 175 countries worldwide. The Silver Medal is awarded to companies ranked within the top 25% of the evaluation.

Hyundai Wia received excellent scores particularly in the environmental category. A major reason for the high evaluation was the company’s completion of joining the RE100 initiative of the global environmental management certification organization, the Carbon Disclosure Project. Accordingly, the company plans to convert 100% of its electricity consumption to renewable energy by 2045.

The company’s publication of sustainability reports transparently disclosing areas that may impact the environment was also a key factor in the high evaluation. Hyundai Wia currently discloses greenhouse gas emissions, energy usage, and compliance status with the greenhouse gas emissions trading system at its domestic and overseas business sites.

Through the EcoVadis ESG evaluation and environmental performance label certification, Hyundai Wia has expanded its opportunities to participate in the global automotive parts procurement market. Currently, global automakers consider EcoVadis ESG evaluation scores and environmental performance label certifications as important participation criteria.

A Hyundai Wia official said, “We are pleased to have our ESG management performance recognized by a global ESG institution and to achieve good results from domestic organizations as well. We will continue to make greater efforts to strengthen our ESG activities going forward.”