Hankook Tire Releases 2022/23 ESG Report

Hankook Tire Releases 2022/23 ESG Report

The report unveils sustainability strategies, including energy reduction and eco-friendly partnerships.

Hankook Tire published its 2022/23 ESG Report, highlighting sustainability activities and mid- and long-term strategies for the year. Hankook Tire said it has been increasing its efforts toward sustainable management, starting with the unveiling of a corporate governance charter, which serves as the foundation for sustainable management. Beyond this, the company says it is intensifying efforts to establish responsible governance by introducing a code of ethics for independent directors and implementing regular evaluations for board of directors operations.

Hankook Tire said it is carrying out diverse energy reduction activities, such as implementing high-efficiency facilities, optimizing energy use, and using renewable energy to reduce greenhouse gas emissions. The company also developed and integrated a systematic climate change response strategy, led by the Climate Change Committee, into its management activities.

In March 2022, Hankook Tire says it was the first tire company in South Korea to join the Science-Based Targets Initiative (SBTi) and submit its greenhouse gas reduction targets. By 2030, Hankook Tire said it aims to achieve a 46.2% reduction in the total amount of direct greenhouse gas emissions and indirect greenhouse gas emissions generated during the production stage, compared to 2019 figures. Additionally, the company has set a target to reduce the total amount of greenhouse gas emissions generated throughout the value chain by 27.5% compared to 2019 figures. Hankook Tire plans to reduce greenhouse gas emissions across various aspects of major business activities, including product production, raw material acquisition, distribution and investment over the medium to long term.

Hankook also partnered with Kumho Petrochemical Co. to develop tires that utilize an eco-friendly, high-performance synthetic rubber called Eco-SSBR.

Hankook Tire said it is also committed to putting its efforts towards minimizing the environmental impact of its products, from raw material acquisition and manufacturing to usage and disposal.

Hankook is also dedicated to innovating technologies, like its intelligent tire technology, which utilizes sensors embedded within the tire to detect parameters such as air pressure and tread wear, and the i-Flex, a non-pneumatic tire.

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