Hyosung Advanced Materials Recognized as a Global Excellence Company in Sustainable Management
Achieved Gold Medal Rating in Global ESG Rating Agency EcoVadis Evaluation
[Asia Economy Reporter Hwang Yoon-joo] Hyosung Advanced Materials Corporation has achieved the 'Gold Medal Rating' in the 2021 sustainability assessment conducted by EcoVadis, a global ESG (Environmental, Social, and Governance) evaluation agency.
Within the Gold rating, it earned the highest score of 72 points, placing it in the top 3% among all global companies participating in the evaluation and in the top 1% within the Textiles industry to which Hyosung Advanced Materials belongs.
Headquartered in Paris, France, EcoVadis was established in 2007 and is a leading global research organization that evaluates and certifies corporate ESG policies.
This result is significant as it was achieved in the first evaluation involving not only Hyosung Advanced Materials' domestic sites but also its global sites in Vietnam, China, Luxembourg, and Romania. It reflects the outcomes of climate change response efforts, CSR activities, and ethical management practices carried out across all business divisions and global locations of Hyosung Advanced Materials.
Hwang Jung-mo, CEO of Hyosung Advanced Materials, stated, "As a company holding the global number one products such as tire cords, yarns for automotive seat belts, and airbag fabrics, the efforts of each committee to ensure that sustainable management activities are implemented at the same level across all global sites seem to have led to this excellent result. We will continue to pursue proactive sustainable management that meets the demands of various stakeholders."
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Meanwhile, Hyosung Advanced Materials is promoting ESG management strategies and activities across all business operations, not only green management, through a Sustainability Management Committee directly led by top management and its specialized subcommittees. In 2022, it plans to strengthen its climate change response capabilities by establishing an emission management system at all overseas sites and setting reduction targets.
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