– Company submitted its mid- to long-term greenhouse emissions discount targets in August
– Validation of submitted targets by SBTi anticipated by early 2023
– Participating within the Business Ambition for 1.5°C marketing campaign led by the SBTi to restrict international warming
– Demonstrates its environmental sustainability dedication by becoming a member of SBTi initiative in March
NASHVILLE, Tenn., Sept. 19, 2022 /PRNewswire/ — Leading international tire maker Hankook Tire has dedicated to the Science Based Targets initiative (SBTi) by submitting its targets for lowering greenhouse gasoline (GHG) emissions from its personal operations.
The SBTi is a partnership between CDP (previously Carbon Disclosure Project), the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). More than 3,600 international corporations are working with the SBTi to set, measure, and report science-based discount targets in step with the Paris Agreement, a legally-binding worldwide treaty on local weather change.
Hankook Tire joined the SBTi initiative in March this yr as the primary tire manufacturing firm in Korea, the place it’s headquartered. In August, the corporate submitted its mid- to long-term science-based emissions discount targets. The validation is predicted in early 2023.
The firm plans to cut back its Scope 1 and a couple of emissions that happen through the manufacturing stage by 46.2% from its 2019 baseline by 2030. In addition, Hankook has pledged to curtail Scope 3 emissions in its worth chain by 27.5% from its 2019 baseline by 2030. This contains the discount of all greenhouse gases generated from uncooked materials acquisition, distribution, funding, manufacturing and different main business actions.
Furthermore, Hankook introduced its participation within the Business Ambition for 1.5℃ Campaign – an pressing name to motion for corporations to set targets to restrict international warming to 1.5°C and attempt for a net-zero future to keep away from the worst impacts of local weather change. Led by SBTi in cooperation with worldwide companions, over 1,300 international corporations are taking part on this marketing campaign.
Hankook Tire has established local weather change and sustainability as its core initiatives since 2010, and has been making varied efforts to cut back greenhouse gases within the tire manufacturing course of. Last July, the ESG committee was launched inside the board of administrators to strengthen the corporate’s ESG administration. The ESG committee accelerated Hankook’s long-term purpose of a 50% discount in greenhouse gasoline emissions by 2050 from its 2018 baseline to 2030. The committee additionally created a brand new 2050 carbon-neutral roadmap together with Scope 3.
Such efforts in environmental sustainability resulted in quite a few astounding achievements. Since 2016, the corporate has been profitable in lowering greenhouse gasoline emissions yearly. In 2021, GHG emissions have been diminished by round 54,487tCO₂-eq globally. This is a 3% lower in whole emissions in contrast to 2020.
Based on these initiatives and achievements, Hankook has been acknowledged by prestigious establishments within the area. In 2021, Hankook Tire earned the platinum medal within the EcoVadis evaluation of Corporate Social Responsibility, given to solely the highest 1% inside every business sector. The firm has additionally been listed within the Dow Jones Sustainability Indices World for six consecutive years from 2016 to 2021. In 2022, Hankook was awarded Gold Class, the best attainable score, within the Sustainability Yearbook 2022 printed by S&P Global by scoring the best rating within the Auto Components sector.
About Hankook Tire America Corp.
Hankook Tire America Corp. is a rising chief within the U.S. tire market, leveraging investments in know-how, manufacturing and advertising to ship high-quality, dependable merchandise which might be safer for customers and the surroundings. Headquartered in Nashville, Tenn., Hankook Tire America Corp. markets and distributes a whole line of high-performance and ultra-high-performance passenger tires, gentle truck and SUV tires in addition to medium truck and bus tires in the United States. Hankook Tire America Corp. is a subsidiary of Hankook Tire & Technology Co., Ltd., a Forbes Global 2000 firm headquartered in Seoul, Korea.
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SOURCE Hankook Tire America Corp.
