HMM Tops Global ESG Rating for Shipping

HMM Corporation announced Thursday that it secured the top position in a recent global assessment of environmental, social, and corporate governance (ESG) performance among major shipping companies.

The top South Korean container shipper disclosed that Sustainalytics, a Dutch company that specialises in ESG and corporate governance research, ratings, and analytics, gave it an impressive "low" score of 15.4 points in the evaluation. Notably, a lower score signifies a stronger ESG rating.

HMM's score reflects a remarkable improvement of 9.4 points compared to its previous "medium" rating of 24.8 points from the preceding year.

In comparison, other industry giants received comparable ratings, such as Maersk with 17.4 points, the world's foremost container shipper; France-based CMA-CGM with 19.3 points; and Taiwan-based Evergreen Marine Corp. with 21.5 points.

Sustainalytics assesses the ESG sustainability of publicly listed companies by evaluating their risk exposure and management strategies using disclosed corporate information. These ratings, along with evaluations from global index provider Morgan Stanley Capital International (MSCI), serve as crucial benchmarks for international institutional investors.

In June, HMM achieved the prestigious "AA" rating in a comprehensive ESG survey of 23 shipping companies, both domestic and international, conducted by South Korea's state-run Korea Asset Management Corp.

HMM has also earned a notable "gold" rating for the second consecutive year from global ESG evaluator EcoVadis and an "A" rating from the Korea Institute of Corporate Governance and Sustainability.

An official from HMM expressed the company's commitment to intensifying its ESG management endeavours, underscoring its dedication to achieving sustainable growth in the foreseeable future.

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Source: Yonhap News