Hankook Tire says it committed to the Science Based Targets initiative (SBTi) by submitting its targets for reducing greenhouse gas (GHG) emissions from its own operations. In August, the company submitted its mid-to-long-term science-based emissions reduction targets.
The company says it plans to reduce its Scope 1 and 2 emissions that occur during the production stage by 46.2% from its 2019 baseline by 2030. In addition, Hankook has pledged to curtail Scope 3 emissions in its value chain by 27.5% from its 2019 baseline by 2030. This includes the reduction of all greenhouse gases generated from raw material acquisition, distribution, investment, production and other major business activities.
The SBTi is a partnership between CDP (formerly Carbon Disclosure Project), the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). More than 3,600 global companies are working with the SBTi to set, measure and report science-based reduction targets in line with the Paris Agreement, a legally-binding international treaty on climate change.
Furthermore, Hankook announced its participation in the Business Ambition for 1.5℃ Campaign – a call to action for companies to set targets to limit global warming to 1.5°C and strive for a net-zero future. Led by SBTi in cooperation with international partners, over 1,300 global companies are participating in this campaign.
