NEWS

HD Hyundai Construction Equipment was named “top company” in ESG at the “2023 Korea Institute of Corporate Governance and Sustainability Awards” ceremony held on November 24 at the Korea Exchange Seoul Office.

As South Korea's premier organization evaluating companies based on their environmental, social, and governance (ESG) performance, the Korea Institute of Corporate Governance and Sustainability (KCGS) annually designates “top companies” and “honor companies” for their exemplary efforts in enhancing ESG practices. This year, after assessing 1,049 companies—987 listed and 62 non-listed—KCGS identified 14 companies for recognition. Among these, six companies were honored as a “top company” in ESG, seven as a “top company” in governance structure, and one as an “honor company.”

HD Hyundai Construction Equipment achieved an outstanding grade of A+ in KCGS's “2023 ESG Assessment and Rating” disclosed on October 27, marking an improvement from the previous year's A grade. Notably, there was a significant enhancement in the environmental rating, progressing from B+ last year to A+ this year. The social rating also saw improvement from A to A+ this year.

The company received excellent marks for △ strengthening leadership and governance in the environment, △ disclosing the financial impact of climate change’s harmful effects, and △ making additional disclosures about its environment-related targets and results. It also received positive marks for △ reinforcing its ESG support for its supply chain partners and △ disclosing the code of conduct for partner companies.

Every quarter, HD Hyundai Construction Equipment hosts the ESG management committee with President Choi Cheol-gon presiding. Key ESG agenda are identified and implemented by this committee.

In environmental matters, the company has declared its commitment to achieving global RE100 by 2040 and carbon neutrality by 2050. To achieve these goals, it is undertaking various activities to combat climate change, including: △ modernizing the Ulsan Campus to create an environment-friendly workplace; △ actively pursuing the self-generation of solar panel-based electric power at its subsidiary companies in China and India; △ developing environment-friendly hydrogen-powered excavators and publishing value assessment reports; and △ supporting ecological conservation activities along the Uireung-gil trail in Mount Bukhan National Park.

The company is implementing ESG principles in various ways. In endeavors aimed at fostering mutual growth with partners, it △ assists partner companies in establishing ESG management systems and △ recognizes top performers in the Flexible Pricing System for Delivered Goods. In terms of social contribution activities, it △ donates kimchi to economically disadvantaged households, △ undertakes home renovations for national merit recipients, and △ provides education to orphans transitioning from protective care on how to start independent lives.

"Building a Comfortable Tomorrow, our new slogan announced in March, encapsulates values for future generations alongside the excellence of our products and technologies. As a leading global construction equipment company, we are committed to contributing to the creation of a sustainable world by actively engaging in activities that consider environmental, social, and governance factors," President Choi Cheol-gon of HD Hyundai Construction Equipment affirmed.