Global leading tire company Hankook Tire & Technology earned the superior rating, platinum medal, in EcoVadis assessment of Corporate Social Responsibility (CSR) 2021. The platinum medal is only rated on companies whose performance is within the top 1% of their industry sector.
EcoVadis is an internationally renowned institute that offers reliable ratings in the field of CSR. The institute assesses around 6,500 companies from 160 countries over the world based on criteria of environment, labor and human rights, ethics, and sustainable procurement. The ratings range from platinum, gold, and silver to bronze.
EcoVadis acclaimed how Hankook Tire has been addressing clear and quantitative goals regarding CSR commitment and actively participating in various initiatives for corporate sustainability. In addition, the transparency of elaborate policies in each CSR category such as human rights management, environment, public safety, and health has also led to its recognition as the top 1% company among a total of 457 companies that manufacture rubber products worldwide.
It’s not the first time Hankook Tire is recognized by EcoVadis. In 2019, Hankook Tire won a gold medal, which means its sustainability management performance was within the top 5% of all companies related. In the following year, when the Platinum medal was added to the ranking system as the highest accreditation to recognize the specific top 1% companies, Hankook was immediately awarded the platinum medal. It makes Hankook Tire stand out as a company with global top-tier sustainable management capability honored with the highest ratings every single year for three years in a row.
This year’s achievement adds significance as Hankook Tire gained 81 points in the assessment. This is 8 more points up compared to last year, which means the company has not only managed to maintain the highest level but also demonstrated even improved performance than a year ago. When looked into the assessment categories in detail, the company scored 70 points in the environment criterion and 90 points in the sustainable procurement criterion, which are 10 points and 20 points higher compared to last year respectively.
In particular, within the sustainable procurement criterion, Hankook Tire received ‘Outstanding level’ which is the highest rank in the category. Hankook has recently taken multiple initiatives in fostering sustainability across its value chain, one of which is upgrading a sustainable natural rubber policy in compliance with the Global Platform for Sustainable Natural Rubber (GSPNR).
“We are honored to receive the highest rating by EcoVadis for three consecutive years. It proves our leadership in building a sustainable ecosystem for the tire industry,” said Sooil Lee, President and CEO of Hankook Tire & Technology. “We will continue our commitment to sustainability management not only to secure future growth but also to make the greener world.”
In addition to the recognition by EcoVadis, Hankook Tire is being acknowledged by many authorized organizations for its efforts to strengthen its social contribution and sustainability management. For example, starting with its first inclusion on the Dow Jones Sustainability indices in 2011, the company has been listed in the Dow Jones Sustainability Indices (DJSI) World for five consecutive years from 2016 to 2020. Hankook also achieved an A- score by CDP (formerly Carbon Disclosure Project) last year in the ‘Climate Change’ sector by demonstrating its environmental transparency and action on climate change.
Source: Hankook Tire