NEWS

▶ Awarded highest prizes in two categories, ESG Management and Sustainability Report
▶ Highly assessed for ESG governance building, strategy on tackling climate change, and supporting partners’ ESG activities
▶ “Will encourage global offices to join efforts and create an ESG system for supply chains with the goal of becoming a leader in ESG management”

Hyundai Construction Equipment received the Grand Prize for ESG Management and Excellence Prize for Sustainability Report at The Management Grand Awards 2022 held at The Shilla Hotels & Resorts in Seoul, Korea.

The Management Grand Awards, organized by Korea's Most Admired Companies (KMAC), is an annual event marking its 35th edition since its’ first in 1988 which awards companies in Korea that have shown great performance in management and innovation.

Hyundai Construction Equipment received the highest awards in two categories being highly evaluated for creating a system for ESG governance within the company such as an ESG Committee within the board of directors and in-house ESG management committee, and establishing and executing their strategy for climate change and carbon neutrality by 2050. The fact that Hyundai Construction Equipment is procuring eco-friendly materials and continuously supporting their partner’s ESG activities were also factors KMAC took into consideration when selecting this year’s awardees.

By winning awards at this year’s Management Grand Awards, Hyundai Construction Equipment once again proved its efforts in ESG management after receiving integrated ‘A’ grades from both the Korea Institute of Corporate Governance and Sustainability (KCGS) and Sustinvest, Korea’s largest ESG evaluation institutions. (*Received an integrated A grade from KCGS for three consecutive years)

A representative of Hyundai Construction Equipment mentioned, “We plan to further expand our efforts to global offices with the ESG fundamental created this year and also work on an ESG management system for supply chains with the hope of becoming a leading ESG management company for the better future.”

Meanwhile, Hyundai Construction Equipment announced its roadmap for 2050 carbon neutrality throughout all of its Korean and overseas offices including China, India, and Brazil. It is also planning to invest a total of KRW 200 billion in transforming its main production base, the Ulsan Campus, into an eco-friendly and smart worksite by 2025.

What is especially noteworthy is that the Ulsan Campus will be procuring its minimal electricity needs with 2MW grade roof solar panels and making a transition to RE100 through corporate Power Purchase Agreements (PPA) and the Green Premium option.