HMM Issues ESG Report... "Pursuing Eco-Friendly Management"

Specific Targets Set for 21.5% Reduction in Greenhouse Gas Emissions by 2030

[Asia Economy Reporter Hyunseok Yoo] HMM announced on the 2nd that it has published the ‘2021 ESG Report,’ which contains the achievements and plans for promoting sustainable management.

The ESG report balances non-financial factors of Environment (E), Social (S), and Governance (G), documenting HMM’s activities and achievements on stakeholder-centered management activities and key ESG issues.

Since establishing a sustainable management system in 2019, HMM improved it to an ESG-centered system in 2020. Last year, to realize ESG management, it set goals for each ESG sector by 2025, focusing on the three core values of environment, society, and governance.

In particular, in the E sector, systematic eco-friendly management and climate change response were set as core values, with goals including greenhouse gas emission management, strengthening safety and health management, and building an eco-friendly transportation system. In the S sector, realizing a sustainable community was the core value, with tasks such as contributing to global and local community development, win-win cooperation, and fostering innovative talent.

In the G sector, risk response and ethical culture were the core values for establishing sound governance. To this end, goals included strengthening board expertise, enhancing risk management and response from the perspectives of shareholders and customers, and reinforcing anti-corruption and ethical management systems.

This report focused on disclosing transparent information. The reporting scope was expanded compared to the previous year to include HMM headquarters, HOS (HMM Ocean Service), overseas subsidiaries, and domestic and international affiliates.

Especially, HMM has established a mid- to long-term strategy to achieve the 2050 carbon neutrality goal, specifying targets such as reducing greenhouse gas emissions by 21.5% compared to the expected 2030 levels.

In 2021, HMM is reorganizing its management system to proactively respond to social and stakeholder demands alongside financial performance. It plans to further solidify its ESG management system through continuous investment not only in financial performance but also in non-financial areas such as environment, labor, human rights, ethics, and social contribution. To this end, it will establish an ESG committee and a dedicated ESG organization this year, as well as operate an ESG management committee led by executives to establish a decision-making system.

An HMM official stated, “We will strive to become a global shipping company leader that creates sustainable future value through continuous innovation,” adding, “We plan to pursue sustainable growth across economic, social, and environmental fields by continuously communicating with various stakeholders.”

Meanwhile, as non-financial factors are transparently disclosed and trust from stakeholders such as customers, shareholders, and local communities is enhanced, HMM became the first in the domestic shipping industry to receive the ‘Gold’ rating, which corresponds to the top 5% among more than 75,000 companies worldwide, in the global corporate sustainability performance survey by EcoVadis, a corporate environmental impact assessment agency based in France.

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