Hyundai Motor and Kia have been recognized for their outstanding performance in sustainability by the global assessment organization CDP (Carbon Disclosure Project).
On March 13th, Hyundai and Kia announced that they received the ‘Carbon Management Honors Club’ and ‘Carbon Management Sector Honors’ awards, respectively, in the climate change response category at the ‘2023 CDP Korea Award’ held at the Glad Hotel in Yeouido, Seoul.
CDP, a non-profit organization established in the UK in 2000, is one of the most reputable sustainability assessment organizations, alongside the Dow Jones Sustainability Index (DJSI).
Every year, CDP evaluates major publicly listed companies in various countries in relation to global environmental issues such as climate change response and water resource management, assigning grades from Leadership A (Leadership A), Leadership A- (Leadership A-), Management B (Management B), Management B- (Management B-), among a total of eight categories.
In this evaluation, Hyundai received the highest grade of ‘Leadership A’ in the climate change response category, which earned them a place in the ‘Carbon Management Honors Club’ awarded to the top five companies.
Kia, on the other hand, achieved ‘Leadership A-‘ in the same category, securing the ‘Carbon Management Sector Honors’ for the top 2-4 companies in the selected consumer goods sector for the fifth consecutive year.
Hyundai excelled in various carbon management activities throughout its value chain, which included efforts such as driving the 2045 carbon neutrality strategy, continuously expanding the electrification lineup, encouraging carbon neutrality among suppliers, increasing the transition to renewable energy in its operations, and exploring technology and nature-based carbon offset projects.
Kia was recognized for its long-term management activities, including advancing the 2045 carbon neutrality strategy, joining RE100 and expanding renewable energy usage, implementing low-carbon environmentally friendly manufacturing processes, ensuring strict management of discharge water quality, recycling wastewater, and establishing real-time pollutant monitoring systems.
Additionally, both Hyundai and Kia also obtained the high grade of ‘Leadership A-‘ in the water resource management sector.
Hwang Dong-cheol, Executive Director of Hyundai’s Management Strategy Office, stated, “The reason we could achieve such high scores despite the CDP evaluation criteria becoming more stringent every year is that we have strengthened our specialized organization for climate change response and have actively implemented and sought various carbon reduction measures.” He added, “We plan to actively implement carbon neutrality activities across the entire value chain, from raw material sourcing to product disposal moving forward.”
Joo Jung-hyun, Head of Kia’s Safety and Environmental Center, remarked, “The reason we have been able to maintain excellent results in CDP evaluations is that we have been promoting various carbon reduction activities along with our commitment to carbon neutrality and RE100.” He continued, “We will do our best to contribute to a sustainable future through various activities to reduce carbon emissions and enhance resource circulation.”
Lee Sang-jin daedusj@autodiary.kr