Hyundai Wia Achieves Integrated A Grade in ESG Evaluation for Three Consecutive Years

Received High Scores in Environmental and Social Responsibility Sections

[Asia Economy Reporter Kiho Sung] Hyundai Wia announced on the 25th that it received an overall A grade in the ‘2022 Listed Companies ESG Evaluation’ announced by the Korea ESG Standards Institute. Hyundai Wia achieved an overall A grade by receiving an A grade in the environment and social responsibility sectors and a B+ grade in the governance sector. With this, Hyundai Wia has received an overall A grade for three consecutive years since 2020.

The Korea ESG Standards Institute is a public interest organization that creates key standards for the development of the capitalist market and conducts evaluation, analysis, and research to promote activation. ESG evaluation assesses a company’s impact on Environment, Social, and Governance, and is recently used as an indicator to verify corporate value and management level.

Hyundai Wia first received a very excellent evaluation in the environmental sector. The fact that the board of directors treats climate change and carbon neutrality as important management issues and regularly reviews environmental management performance was the background for the good evaluation. Hyundai Wia is currently focusing on environmental preservation by setting ‘Five Major Environmental Management Innovation Tasks’: ▲greenhouse gas and energy reduction ▲preservation of workplace and surrounding air environment ▲wastewater treatment and recycling ▲resource recirculation activities ▲hazardous substance management.

Hyundai Wia’s clear disclosure of mid- to long-term greenhouse gas emission reduction plans and active efforts to reduce greenhouse gas emissions were also effective. Hyundai Wia plans to reduce greenhouse gas emissions to 40% of the 2021 level by 2030 and to 10% by 2040. It has set a goal to achieve carbon neutrality by 2045.

In the social sector, Hyundai Wia received good evaluations for having a culture of co-prosperity with partner companies and adhering to safety management. In particular, Hyundai Wia was recognized for excellence in supporting partner companies. Hyundai Wia supports partner companies to secure future growth engines and helps them prepare new businesses currently underway, such as ‘Integrated Thermal Management Solution,’ ‘Electrified Axle (e-TVTC),’ and ‘Smart Manufacturing Solution.’ Hyundai Wia is also jointly responding to supply chain risks that have recently emerged.

Hyundai Wia was highly evaluated for continuously carrying out social contribution activities together with NGOs and civic groups. Through ‘1% Miracle,’ a representative social contribution activity started in 2013, employees voluntarily raise funds amounting to about 700 million KRW annually to help neighbors facing social difficulties. Hyundai Wia has also continuously operated programs such as ‘Hyundai Wia Green School’ for several years and shown interest in local communities and the environment through initiatives like ‘Hyundai Wia Youth Workplace.’

Hyundai Wia aims to fulfill its social responsibilities as a global company by continuously strengthening ESG management. A Hyundai Wia official said, “We will make efforts in various ways to become a company that can grow together with all stakeholders, including local communities, not just focusing on making profits.”

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