Hankook Tire has launched an ESG (Environmental, Social and Governance) committee to strengthen its sustainable management.
On July 30, Hankook Tire’s board of directors established a new ESG committee within the board of directors to improve corporate governance. The company says the creation of the ESG committee aims to strengthen ESG management policies, strategies and activities. With this move, the company aims to strengthen board-centered management and achieve sustainable growth in the long run, according to Hankook.
The ESG committee will be responsible for consulting, deliberating, and recommending directions regarding environmental, social and governance businesses. The committee will be composed of seven members with more than half from outside the board in order to boost professionalism as well as its function, the company says. The committee has appointed outside director Mira Lee, who has worked with General Electric Co. and the Macquarie Group. S on corporate governance, as its first chairperson.
Hankook Tire says it is setting clear goals such as achieving 100% sustainable raw material use by 2050 and reducing greenhouse gas emissions by 50% compared to that of 2018. The company is also participating in various initiatives for corporate sustainability practices such as UNGC (United Nations Global Compact) and is promoting eco-friendly policies such as sustainable natural rubber policies.
