Hyosung and Hyosung Advanced Materials Receive CDP 'Carbon Management Sector Honors' Award

[Asia Economy Reporter Hwang Yoon-joo] Hyosung Advanced Materials Corp. received the 'Carbon Management Honors Club' and 'Carbon Management Sector Honors' awards at the '2020 CDP Climate Change Response and Water Management Excellence Awards Ceremony' held on the 28th at the Glad Hotel in Yeouido, Seoul. Hyosung Co., Ltd. was selected as a recipient of the 'Carbon Management Sector Honors.'

The 'Carbon Management Sector Honors' is awarded to companies that achieve the highest grade in their respective fields in the 2020 CDP evaluation. Hyosung Advanced Materials and Hyosung received A and A- grades respectively in the raw materials sector.

In particular, Hyosung Advanced Materials was ranked 3rd among companies with high scores across industries, earning the honor of being selected for the 'Carbon Management Honors Club,' which is awarded to the top five companies.

CDP (Carbon Disclosure Project) is a non-profit organization headquartered in London, UK, that discloses climate change response strategies, greenhouse gas emission data, and carbon management strategies of major listed companies in 91 countries, providing evaluation information to major financial institutions such as pension funds investing in these companies.

The CDP evaluation is one of the most trusted indicators assessing corporate sustainability management in the area of climate change response, alongside the Dow Jones Sustainability Index and FTSE4GOOD (Socially Responsible Investment Index). In the 2020 CDP evaluation, 9,600 companies worldwide participated in environmental management assessments. The CDP Korea Committee selected 18 outstanding companies out of 200 domestic companies as 'Carbon Management Sector Honors' recipients and held an awards ceremony.

This award is the result of the company's proactive efforts to respond to climate change. Hyosung and Hyosung Advanced Materials have been promoting strategies and activities related to green management, including climate change response, through a specialized committee directly overseen by top management. Based on this, they have spared no effort in investing in eco-friendly facilities and equipment and applying environmentally friendly processes and methods to minimize environmental impact at manufacturing sites. Additionally, to reduce emissions during the usage phase, each business division has been leading the development of lightweight products and eco-friendly materials.

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