Hyundai Wia Achieves 'Gold' Rating from Global ESG Evaluation Agency

Hyundai Wia announced on the 18th that it has achieved the 'Gold' rating, placing it within the top 5%, in the management evaluation conducted by EcoVadis, a global ESG (Environmental, Social, and Governance) assessment organization.

EcoVadis evaluates over 100,000 companies across 175 countries worldwide based on four criteria: environment, labor and human rights, ethics, and procurement. Hyundai Wia upgraded from the Silver rating it received last year to the 'Gold' rating. EcoVadis' evaluation results have recently been used by many global automakers as a benchmark for supply chain decisions.

Earlier, on the 13th, Hyundai Wia also received the 'Leadership A-' rating in the '2023 CDP Climate Change Response Assessment' conducted by the global sustainability assessment organization CDP (Carbon Disclosure Project). At the same time, it was selected for the 'Carbon Management Sector Honors,' awarded to the top four companies among discretionary consumer goods firms. CDP annually evaluates the climate change response strategies of over 13,000 companies worldwide.

Hyundai Wia received favorable evaluations for its multifaceted efforts to reduce greenhouse gas emissions. In fact, Hyundai Wia has joined the ‘RE100’ initiative, which aims to switch 100% of the electricity used by the company to renewable energy, with a target to achieve this by 2045. Additionally, it is actively working to reduce greenhouse gas emissions by improving its internal energy management system and replacing outdated boilers and compressors with energy-efficient products. Through these efforts, Hyundai Wia reduced its greenhouse gas emissions by 19,280 tCO2eq compared to its target in 2022.

Hyundai Wia also scored highly in the labor and human rights sector. It has been recognized for improving working conditions so that employees can work healthily and safely. To create a safe workplace, Hyundai Wia regularly conducts safety risk assessments and training. It also operates a grievance handling system and consistently provides education to prevent discrimination and harassment.

Hyundai Wia is also strengthening sustainable management among its partners. It conducts ESG evaluations to help partners enhance their competitiveness and provides education and consulting on areas needing improvement. Last year, ESG evaluations were conducted for a total of 214 partner companies.

As international interest and demands for ESG management grow, Hyundai Wia plans to expand related activities. A Hyundai Wia official said, "We are pleased to have our sustainable management activities recognized by a highly credible global ESG evaluation organization," adding, "All employees will work together to protect the environment and become a company that can grow alongside stakeholders."