"Hyundai Motor to Focus on ESG Internalization" Publishes Sustainability Report

Hyundai Motor Company announced on the 13th that it has published the "2023 Sustainability Report," which contains last year's sustainability management performance and ESG (Environmental, Social, and Governance) information. Since 2003, the company has been publishing this report annually to communicate overall financial and non-financial information with various domestic and international stakeholders, including investors and customers.

The report is broadly divided into Environment, Social, and Governance sections. The Environment section covers specific mid- to long-term strategies for achieving carbon neutrality by 2045 and transitioning to electrification, as well as climate change risk management information based on the TCFD (Task Force on Climate-related Financial Disclosures) framework.

The Social section addresses due diligence and commitment to improving human rights risks. It includes efforts for supply chain ESG management and activities aimed at enhancing product quality and safety, which are crucial in the automotive industry.

The Governance section details efforts to establish transparent and sound governance, including board composition and operation. It also thoroughly records systems and management activities related to ethical and compliance management.

[Photo by Hyundai Motor Company]

This report additionally includes the results of double materiality assessments related to ESG disclosure regulations such as CSRD (Corporate Sustainability Reporting Directive) and the ESRS (European Sustainability Reporting Standards) guidelines.

New business areas such as robotics and AAM (Advanced Air Mobility) are organized into a separate magazine section.

The report is available to anyone on the sustainability management menu on Hyundai Motor’s official website.

In his message in the report, Hyundai Motor CEO Jang Jae-hoon stated, “To achieve sustainable growth, we will fundamentally transform the company’s core structure with a long-term perspective, and especially to meet the rising external expectations, we will put more effort into internalizing ESG management.”

A Hyundai Motor representative said, “As corporate ESG disclosures become increasingly important, we focused on publishing a substantial sustainability report for sincere communication with stakeholders,” adding, “With active movements to legislate ESG disclosures centered on international organizations and the EU, we will continue to monitor related regulations and enhance our response capabilities.”

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