Hankook Tire Publishes 2023/24 ESG Report

Highlights

Hankook Tire releases their 15th annual ESG Report.
Aim for a 46.2% reduction in manufacturing emissions and a 27.5% reduction in value chain emissions by 2030.
Develop sustainable tyres and promote a circular economy through its "re:move" recycling programme.
Support social causes, including child traffic safety education and local community initiatives.

Hankook Tire & Technology (Hankook Tire), a South Korean tire company based in Seoul, has recently released their 2023/24 ESG Report.

The report shows the company's progress in three main areas: Eco Value Chain, Sustainable Product, and Responsible Engagement.

Sustainable Manufacturing

Hankook Tire focuses on environmental responsibility by cutting its carbon footprint. In August 2023, it was the first Korean tyre company to get Science Based Targets Initiative (SBTi) approval for its carbon reduction goals.

The company plans to cut greenhouse gas emissions from manufacturing (Scope 1 and 2) by 46.2% by 2030 compared to 2019 levels. They also aim to reduce emissions across the value chain (Scope 3) by 27.5%.

Innovation

They use a life-cycle approach to minimise the environmental impact of tyres, from material sourcing to disposal. By researching innovative technologies, they create sustainable materials and applications, which help conserve resources and cut carbon emissions.

Hankook Tire's "re:move" Programme

The tyre manufacturer adopts a circular economy by transforming waste into valuable resources. Their "re:move" programme recycles waste from tyre production into upcycled products like shoes, longboards, and camping gear. This initiative reduces waste and creates social value with innovative, sustainable products.

Sustainable Future

On the social front, the company focuses on a responsible supply chain, ethical human rights, and employee well-being. They also engage in social contribution activities, supporting local communities and promoting a sustainable future. For example, their driving school at the Daejeon Traffic Culture Institute offers traffic safety education to underprivileged children.

Click here for more information about Hankook Tire's ESG initiatives.

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Source: Hankook Tire