HMM Achieves Comprehensive A Grade in KCGS ESG Evaluation Report

HMM announced on the 30th that it has received an overall A grade in the '2023 ESG (Environment, Social, Governance) Evaluation' announced by the Korea Corporate Governance Service (KCGS).

The Korea Corporate Governance Service, a subsidiary of the Korea Exchange, evaluates ESG management of domestic listed companies annually. This year, 987 domestic listed companies were evaluated. HMM has received an overall A grade for four consecutive years since 2020. It received an A+ grade in both the Environment (E) and Social (S) categories.

In particular, the Environment category received an A+ grade for two consecutive years following last year. Only 39 companies received such a grade, representing the top 4%. According to an HMM official, the A+ grade in the Environment category is evaluated as a result of efforts to respond to climate change and promote eco-friendly logistics in line with global standards.

[Image source=Yonhap News]

In March, HMM placed an order for nine eco-friendly container ships powered by methanol fuel, ranking fourth among global container shipping companies. The company is actively adopting eco-friendly technologies, including demonstration of carbon capture systems for ships and pilot operations of biofuel-powered vessels.

Additionally, internal analysis shows that over the past 10 years, HMM has reduced carbon emissions by half per container moved. It has been selected as the shipping company with the lowest carbon emissions by overseas organizations such as Clean Cargo (Europe) and Xeneta (Americas).

In the Social category, HMM improved from an A grade last year to an A+ grade this year. It received favorable evaluations for smooth communication with stakeholders including customers, employees, and local communities. HMM is also actively engaged in social contribution activities leveraging the characteristics of the shipping industry. In particular, it is actively involved in marine environmental conservation activities, which is the main stage of the shipping industry.

An HMM official stated, "Receiving an A grade for four consecutive years in the KCGS ESG evaluation is the result of company-wide efforts for sustainable management," adding, "We will become a company beneficial to the environment and society based on healthy competitiveness."

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