Hankook recognised for sustainable business management by TIME and the Financial Times

• Premium tyre manufacturer among world's top companies for sustainable management selected by leading global media outlets
• Achievements driven by continuous efforts to reduce carbon emissions and by research and development for eco-friendly business practices

Neu-Isenburg, Germany, 18 July 2024 - Premium tyre manufacturer Hankook has been recognised for its innovative efforts in sustainable management. The company was named one of the ''World's Most Sustainable Companies of 2024" by the U.S. bi-weekly magazine "TIME" and global data and business intelligence platform "Statista". In addition, Hankook was named among the "Asia-Pacific Climate Leaders 2024" selected by the London-based international daily newspaper "The Financial Times" and Statista.

TIME and Statista announced their "World's Most Sustainable Companies of 2024" list for the first time this year. They evaluated 5,000 leading global companies, shortlisting the top 500 worldwide, including 15 in Korea. The evaluation criteria comprised more than 20 performance indicators related to sustainability and data disclosed by each company. Hankook received positive evaluations in major criteria, demonstrating its top global ESG (Environmental Social Governance) competitiveness.

The "Asia-Pacific Climate Leaders 2024" list by the Financial Times and Statista provides a comprehensive evaluation of changes in greenhouse gas emissions and reductions relative to sales from 2018 to 2023. It also covers the accomplishments of the Carbon Disclosure Project (CDP) and the Science Based Targets Initiative (SBTi), a global initiative that supports companies in setting targets in line with the latest climate science. Hankook was ranked second among Korean companies.

Hankook is focussing on strengthening sustainable management across the entire organisation. Through its robust sustainable business and ESG management system, the company actively promotes greenhouse gas emission reduction throughout the entire product life cycle - from raw material procurement to manufacturing, sales, use, recycling and disposal. Further efforts include the use of renewable energy, optimising energy efficiency, improving facility operations and introducing new energy technologies.

There is also a focus on developing more sustainable products through innovative technology research. Life Cycle Assessment (LCA) is meticulously conducted throughout the entire manufacturing process, including tyre weight optimisation techniques, 3D printing technologies and more.

As a result of continuous eco-friendly achievements, in August last year, Hankook became the first company in the Korean tyre industry to receive approval for carbon reduction targets from the SBTi. After the Geumsan plant in Korea became the first in the industry to attain the prestigious International Sustainability & Carbon Certification (ISCC) PLUS in 2021, the plant in Hungary followed suit in September last year. These achievements are leading the global tyre industry to sustainable management by expanding the application of sustainable raw materials.

About Hankook Tire

Related News