Hyundai Motor Company announced on the 9th that it has published the "2024 Hyundai Motor Sustainability Report," which contains various efforts and achievements for sustainable management.
Since 2003, Hyundai Motor has been publishing an annual sustainability report to provide key information covering both financial and non-financial performance and to actively communicate with various domestic and international stakeholders, including consumers and investors.
In his greeting, Jang Jae-hoon, CEO of Hyundai Motor, said, "Hyundai Motor has made multifaceted efforts to meet the increasing demands for ESG management," adding, "We will continue attempts to internalize ESG management to build a foundation for sustainable growth and move toward a better tomorrow."
This year’s sustainability report is broadly divided into three parts: ▲Environment ▲Social ▲Governance.
The Environment section focuses on environmental topics closely related to the company’s business activities, such as climate change, circular economy, and biodiversity. Notably, this year newly disclosed information includes the results of physical risk analysis based on climate change scenarios, a five-year roadmap for carbon emission reduction, and the current status of biodiversity-related risk management.
The Social section contains key content centered on various stakeholders such as employees, partners, customers, and local communities. Additionally, information on the human rights management system and governance, which are becoming increasingly important, has been enhanced. Measures and efforts to prevent greenwashing risks are also introduced.
The Governance section consists of core items related to corporate governance, such as board responsibility management, ethics and compliance management, and risk management. To visibly express the board’s capabilities and diversity, a Board Skills Matrix (BSM) was newly added. Information on ethics and taxation has also been more detailed.
Hyundai Motor is focusing on preventing potential risks through continuous ESG-related diagnosis and due diligence of business sites and partners. The company explained that it is making various efforts for sustainable management, including strengthening the board’s ESG management and supervision functions.
A Hyundai Motor official said, "As companies’ obligations and responsibilities regarding ESG information disclosure expand, transparent and highly reliable external communication is becoming even more important," adding, "We will continuously improve the ESG information disclosure system comprehensively from data management to final disclosure and enhance our capabilities to respond to disclosure regulations."
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