Last Year, One Step Up at A... "Strengthening Responsible Management"
Hyundai Rotem announced on the 28th that it has achieved an A+ rating (Excellent) from the Korea ESG Standards Institute by demonstrating outstanding performance in Environmental, Social, and Governance (ESG) management. This recognition was given for its concrete ESG management activities, such as establishing a carbon neutrality roadmap to promote low carbon emissions throughout the entire product lifecycle, conducting annual human rights impact assessments, and evaluating supply chain sustainability.
Hyundai Rotem reported that it received an A+ rating in the environmental and social sectors and an A (Excellent) rating in the governance sector. The company was acknowledged for its firm commitment to sustainable management by setting mid- to long-term goals in each area. As a result, it improved from an integrated A rating last year to an A+ rating this year.
In the environmental sector, Hyundai Rotem presented a clear execution strategy through its carbon neutrality roadmap and climate risk response strategies.
Last year, Hyundai Rotem concretized its plan for transitioning to a low-carbon hydrogen society by establishing a carbon neutrality roadmap. The goal is to convert all electricity used at its business sites to renewable energy by 2040 and achieve complete carbon neutrality by 2050. To this end, Hyundai Rotem is accelerating the low-carbonization of all product lifecycles by establishing plans for renewable energy adoption and expanding its portfolio of hydrogen-based eco-friendly products.
In the social sector, Hyundai Rotem set mid- to long-term goals and strategies regarding human rights management, safety and health, social contribution, and supply chain sustainability, and disclosed the implementation status. It conducts annual human rights impact assessments and supply chain sustainability evaluations, sharing the results and improvements in its sustainability management report to communicate its achievements in socially responsible management.
In the governance sector, Hyundai Rotem has built transparent governance based on reviews and supervision by various subcommittees such as the Audit Committee and the Transparent Management Committee, and enhanced the independence and expertise of the board of directors by operating an Outside Director Candidate Recommendation Committee. This year, it resumed its dividend policy for the first time in 10 years, strengthening shareholder-friendly management.
A Hyundai Rotem official stated, "This evaluation is the result of recognizing Hyundai Rotem’s strategic efforts and practices for sustainable management," adding, "We will continue to fulfill our corporate social responsibility through ongoing innovation and responsible management in the global market."
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