Hanwha Systems Declares Support for Climate Change Response 'TCFD'
[Asia Economy Reporter Park Sun-mi] Hanwha Systems announced on the 17th that it has declared its support for the Task Force on Climate-related Financial Disclosures (TCFD). The TCFD is a task force established in 2015 by the Financial Stability Board (FSB), an international organization. It recommends that companies disclose climate-related information and incorporate it into organizational decision-making.
Since 2021, Hanwha Systems has been publishing a Sustainability Management Report to disclose detailed ESG (Environmental, Social, and Governance) activities and management performance. Through this declaration of support, the company plans to transparently disclose climate-related financial information and actively respond to climate change. This signifies a renewed commitment to strengthening ESG management, which is required for global competitiveness.
Additionally, Hanwha Systems received an A grade for two consecutive years in the ‘2022 Listed Companies ESG Rating’ announced by the Korea Corporate Governance Service (KCGS) in November last year. Among the environmental, social, and governance sectors, the social area in particular was recognized with an A+ grade for its active efforts in building a corporate culture of shared growth, win-win management with partners, and social contribution activities, fulfilling its responsibilities to the local community.
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Uh Sung-chul, CEO of Hanwha Systems, said, “Through the declaration of support for the TCFD, Hanwha Systems intends to actively participate in climate change response across all business areas, including defense, ICT, and new business sectors such as UAM and low-earth orbit satellite communications.” He added, “As we aim to become a global company, we will accelerate the internalization of ESG management, fulfill our corporate social responsibilities, and strive to establish growth engines for sustainable development.”
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