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Hankook Tire Launches ESG Committee

Autosphere » Tires » Hankook Tire Launches ESG Committee
Hankook Tire launched an ESG (Environment, Social, Governance) committee. PHOTO Hankook

Hankook Tire launched an ESG (Environment, Social, Governance) committee to strengthen the responsibility and the role of the board to practice sustainable management.

The Hankook Tire Board of Directors has decided to set up a new ESG committee within the board of directors to improve corporate governance.

The establishment of the ESG Committee aims to strengthen ESG management policies, strategies and activities.

With the establishment of the ESG committee, the committees within the board will be expanded to five units, including the existing audit committee, outside director nomination committee, sustainable management committee and internal transaction committee.

The company aims to strengthen board-centred management and achieve sustainable growth in the long run.

ESG committee will be responsible for consulting, deliberating, and recommending directions regarding environmental, social and governance businesses.

The committee will be composed of more than three members of the board and over half of the members shall be outside directors in order to boost professionalism as well as its function.

Chairman Mira Lee

The committee will appoint its chairman through committee resolution.

Outside director Mira Lee has been appointed as the first chairman of the ESG committee and the committee will be composed of the entire BOD members.

The first ESG chairman, Mira Lee is a female leader who has accumulated various experiences and expertise from global companies with leading corporate governance practices such as GE (General Electric) and Macquarie Group.

She also is a first graduate of Ewha Woman’s University’s specialized program for female outside director training.

With expertise in finance from global companies as well as in strategic planning, investment, personnel management, organizational culture innovation, and diversity and inclusion (D&I).

Mira Lee is expected to represent the various interests of stakeholders and the public, while also contributing to resolving key management issues to maximize the company’s long-term growth and corporate value.

Achievements

Hankook Tire has established a working-level organization for ESG management. It has also been continuously cultivating tasks and achieving its goals every year.

The company obtained leadership ratings from CDP (formerly Carbon Disclosure Project) in recognition of its performance in climate change response and water security.

Hankook Tire was awarded Carbon Management Sector Honors at CDP Climate Change Korea Awards.

In addition, starting with its first inclusion on the Dow Jone Sustainability Indices in 2011, the company was listed in the Dow Jones Sustainability Indices (DJSI) World for the fifth consecutive year from 2016 to 2020.

Hankook Tire is also setting clear goals such as achieving 100% of sustainable raw material use by 2050 and reducing greenhouse gas emissions by 50% compared to that of 2018.

The company is also participating in various initiatives for corporate sustainability practices such as UNGC (United Nations Global Compact).

It is also promoting eco-friendly policies such as sustainable natural rubber policies.

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