Hanwha Solutions Publishes Sustainability Report Highlighting Achievements in Renewable Energy

Goal of 100% Renewable Energy Transition by 2050
Human Rights Management Charter and Guidelines Also Released

Hanwha Solutions announced on the 31st that it has published the "2023 Sustainability Management Report," which contains the results of its ESG (Environmental, Social Responsibility, and Governance) activities from last year.

In this report, Hanwha Solutions emphasized its efforts and achievements in expanding the transition to renewable energy. Specifically, these include ▲promoting solar power self-generation by utilizing idle land within factories ▲securing renewable energy-based electricity of 68.4 GWh in 2022 and 80.7 GWh in 2023 through participation in the Green Premium system ▲greenhouse gas reduction activities such as participating in the "K-EV100" campaign to convert company vehicles to eco-friendly vehicles.

The report also introduced new activity plans to achieve the 2050 goal of 100% renewable energy transition and to reduce energy consumption. It plans to add 4.37 MW scale solar power self-generation facilities by utilizing sites such as factory rooftops and to save approximately 2.3 GWh of energy annually by introducing a real-time load management system for cooling facilities. Additionally, it intends to improve fuel usage efficiency by utilizing hydrogen generated from petrochemical processes as internal fuel.

Hanwha Solutions 2023 Sustainability Management Report Cover
[Image source=Hanwha Solutions]

Hanwha Solutions disclosed for the first time the newly established Human Rights Management Charter and Guidelines in this report. It presented a roadmap and processes to protect the human rights of stakeholders including employees, partners, and customers, and established a company-wide implementation plan to put these into practice.

The report also includes achievements and improvement plans on five key ESG issues: "Responding to Climate Change and Achieving Carbon Neutrality," "Development of Sustainable Products and Technologies," "Industrial Safety and Health Management and Enhancement," "Employee Capacity Building and Fair Performance Compensation," and "Strengthening Compliance and Ethical Management."

Hanwha Solutions stated, "To respond to increasingly severe global weather anomalies such as heatwaves, heavy rains, and droughts, we will accelerate the transition to renewable energy and expand related businesses to contribute to a sustainable future shared with all stakeholders including employees, shareholders, customers, partners, and local communities."