Hankook Tire Initiates Sustainable Natural Rubber Value Supply Chain Development

Establishing a Sustainable Natural Rubber Policy in Compliance with GPSNR Guidelines

[Asia Economy Reporter Yu Je-hoon] Hankook Tire & Technology announced on the 23rd that it has established and announced a natural rubber policy to secure the economic, social, and environmental sustainability of the natural rubber value supply chain.

This policy was established in accordance with the guidelines of GPSNR. GPSNR is a global platform for sustainable natural rubber created through collaboration among tire manufacturers, non-governmental organizations (NGOs), rubber growers, and processors. Hankook Tire has been an active founding member of GPSNR.

According to this policy, Hankook Tire will build a strengthened value supply chain. In particular, it will not only comply with the laws and regulations of the countries where the business sites of members of the natural rubber value supply chain, such as growers, intermediaries, processors, and manufacturers, are located, but also strive to fulfill social responsibilities in various areas including human rights, environment, and anti-corruption.

Hankook Tire established this policy based on the fact that about 85% of natural rubber is cultivated by small-scale farms, and with the increasing demand for rubber in the industry, it is necessary to build a sustainable natural rubber value supply chain. Accordingly, it first identifies best cultivation practices and provides education for natural rubber producers to increase yields, supporting productivity and quality improvement as well as enhancing the quality of life of growers.

In addition, it supports activities for environmental protection and shares concerns about minimizing environmental impact with members within the supply chain. Specifically, it prohibits deforestation and waste incineration and continues efforts to reduce greenhouse gas emissions.

Furthermore, guidelines to meet the natural rubber policy requirements are also proposed to suppliers, ensuring that these can be reflected in contracts and participation activities.

Hankook Tire plans to have these goals and policy implementation plans approved by the Environmental, Social, and Governance Strategy Committee and will faithfully disclose the policy plans and achievements at least once a year.

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