HS Hyosung Advanced Materials has solidified its position as a leading global company in ESG (Environmental, Social, and Governance) management, achieving outstanding results in a global supply chain evaluation.
On July 18, HS Hyosung Advanced Materials announced that it received an A grade, the highest possible, in the "2024 Supplier Engagement Assessment (SEA)" conducted by the globally recognized ESG evaluation agency, the Carbon Disclosure Project (CDP).
This year's SEA assessment saw participation from 22,777 companies across 91 countries worldwide. Of these, only 1,395 companies were named to CDP's esteemed "A-List," with HS Hyosung Advanced Materials being one of just 64 companies from South Korea to be included.
HS Hyosung Advanced Materials was recognized for its climate response strategy grounded on Science-Based Targets (SBT), which have been officially approved by the Science Based Targets initiative (SBTi). Additionally, the company received an A grade in the new evaluation category of risk management processes, highlighting its comprehensive approach to sustainability.
In January, the company's greenhouse gas reduction targets for 2030 received official approval from SBTi, underscoring its commitment to combating climate change.
The CDP is one of the most respected global climate change response projects that thoroughly evaluates corporate greenhouse gas emissions, carbon management strategies, and climate-related risks and opportunities. It is regarded alongside the Dow Jones Sustainability Indices (DJSI) as one of the most authoritative ESG evaluation metrics.
Furthermore, in October last year, HS Hyosung Advanced Materials was awarded the "Platinum Medal" by EcoVadis, a global supply chain ESG assessment agency, an honor given to only the top 1% of companies worldwide. The company continues to demonstrate exceptional performance in sustainable management, as evidenced by its inclusion in the DJSI Korea for two consecutive years.
