Hyundai Transys Announces 2021 Sustainability Management Report... Expanding ESG Management

"RE100 Achievement Target to Be Moved Up Earlier Than 2050"

[Asia Economy Reporter Ki-min Lee] Hyundai Transys, a parts subsidiary of Hyundai Motor Group, is embarking on a full-scale expansion of ESG (Environmental, Social, and Governance) management.

On the 15th, Hyundai Transys revealed its vision of "Transition to Sustainable Mobility" along with three key sustainable development goals and core tasks through the "2021 Sustainability Management Report." The report presented specific strategies and achievements regarding the core issues derived from materiality assessment: ▲ securing future growth engines and global markets ▲ advancing environmental management strategies and systems ▲ establishing a foundation for co-growth in the supply chain.

First, as part of efforts to secure future growth engines and global markets, Hyundai Transys explained that it is strengthening its electric vehicle (EV) drivetrain lineup, including new hybrid transmissions, EV drivetrain systems, and electric axles (e-Axle) for hydrogen electric trucks. It is also creating new mobility-linked system spaces through the development of new autonomous driving, EV, and eco-friendly seats.

Moreover, Hyundai Transys declared its membership in RE100 last July as the first step toward achieving global carbon neutrality and is establishing mid- to long-term strategies to convert 100% of the electricity used at its global business sites to renewable energy. In particular, by continuously improving energy efficiency?such as reducing energy consumption by 6% in 2020 compared to 2019?it plans to achieve the RE100 target earlier than 2050. Additionally, it is intensifying environmental management by developing products applying eco-friendly technologies, such as advanced hazardous chemical management systems, eco-friendly seat stain prevention technology, and EV disconnectors.

Furthermore, to build a foundation for co-growth in the supply chain, Hyundai Transys is systematizing risk management through corporate social responsibility (CSR) evaluations based on the supply chain code of conduct and supporting partner companies with finance and education through partner programs. Recently, it was recognized for its achievements in mutual growth with partners, including support for building smart factory systems for suppliers, and was selected as the best co-growth company for seven consecutive years this year.

Yeosu-dong, CEO of Hyundai Transys, stated, "Hyundai Transys has firmly established the foundation for future growth amid the recent global crisis," adding, "We will continue to focus all our capabilities on securing independent competitiveness to lead future markets."

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