Hyundai Construction Selected as 'Best Company for Climate Change Response'... 3 Consecutive Years in the 'Hall of Fame'

‘CDP Korea Hall of Fame’ Inducted for 3 Consecutive Years
Achieved A Grade for 3 Consecutive Years in ESG Integrated Evaluation by Korea Corporate Governance Service
Launched ‘Sustainable Management Council’ in October Last Year for Company-wide ESG Management

Hyundai Construction, 2020 CDP KOREA Award Plaque

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering & Construction is accelerating its ESG management efforts, having been selected as the top company for climate change response strategy by a global sustainability management evaluation organization.

Hyundai Engineering & Construction announced on the 26th that it was selected as the "2020 Top Company for Climate Change Response Strategy" by the Korea Committee of the global environmental management certification organization, the Carbon Disclosure Project (CDP). With this, Hyundai Engineering & Construction has entered the "CDP Korea Hall of Fame" for three consecutive years.

CDP is a global project that requests major companies worldwide to disclose information on their strategies and risk management capabilities regarding climate change response, analyzes this data, and publishes reports accessible to investors and stakeholders. The evaluation results are provided to financial institutions worldwide and used as investment guidelines. Alongside the Dow Jones Sustainability Indices (DJSI), it is recognized as one of the most reliable sustainability evaluation indicators. The evaluation results are classified into nine grades, ranging from "Leadership A" to "Failure F."

Hyundai Engineering & Construction maintained its place in the "Hall of Fame" by achieving the highest grade, "Leadership A," this time. Since 2014, Hyundai Engineering & Construction has received "Leadership A" for five consecutive years and first entered the "Hall of Fame" in 2018. In this evaluation, it received high scores across all areas, including climate change response strategy, greenhouse gas reduction efforts, greenhouse gas management, and new business promotion, securing its position in the "Hall of Fame" for three consecutive years.

Hyundai Engineering & Construction has established the vision "2050 Global Green One Pioneer" and is implementing a proactive environmental energy management strategy linked to national greenhouse gas reduction targets. To this end, it has established an environmental energy management system covering the entire business process from technology development, procurement, transportation, construction, demolition, to operation. Every year, it sets company-wide and site-specific environmental energy policies and goals and manages them thoroughly according to detailed implementation plans.

In particular, Hyundai Engineering & Construction is focusing on ESG management activities that emphasize the necessity of non-financial factors such as ESG, which significantly impact corporate sustainability demanded by the new era, unlike the past when only financial performance was considered.

In October last year, to internalize company-wide sustainable management and systematically promote sustainable management strategies and strengthen competitiveness, Hyundai Engineering & Construction launched the "Hyundai Engineering & Construction Sustainable Management Council." The council is composed of 14 departments and 19 teams (executive/team leader level) to discuss company-wide ESG management issues and enhance execution power, with the CFO serving as the chairperson. In April this year, the council held its first-quarter meeting to discuss plans for promoting improvement tasks in each ESG sector and completed reporting important ESG agenda items to the Transparency Management Committee under the board of directors.

Additionally, in the environmental management sector this year, the company plans to expand the adoption of recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) and disclose its policy direction regarding climate change crisis response in the 2021 Sustainable Management Report.

Through these efforts, Hyundai Engineering & Construction achieved an A grade for three consecutive years in the 2020 ESG integrated evaluation conducted by the Korea Corporate Governance Service (KCGS) targeting 908 domestic listed companies in the environmental, social, and governance sectors. It received A+ in the environmental sector, A in the social sector, and A in the governance sector, promoting company-wide ESG management with a sense of urgency for sound sustainable growth.

A Hyundai Engineering & Construction official said, "Being inducted into the CDP Korea Hall of Fame for three consecutive years is a result of evaluating Hyundai Engineering & Construction’s proactive and voluntary carbon management and climate change response capabilities," adding, "We will continue to do our best to leap forward as a global eco-friendly leading company."

This content was produced with the assistance of AI translation services.