Kumho Tire Receives Silver Medal from Ecovadis in ESG Assessment
Ecovadis, a global ESG evaluation agency, has awarded Kumho Tire a silver medal. In addition, the Korea Institute of Corporate Governance and Sustainability (KCGS) gave the tyre manufacturer an overall grade of B+.
Ecovadis is a French ESG rating platform. It is used by over 100,000 businesses in 175 countries worldwide. A silver medal is given to a company that ranks in the top 25% or above in its ESG evaluation.
This year, the KCGS looked at the environmental (E), social (S), and governance (G) performance of 1,000 public companies. Kumho Tire received B, A, and B grades, resulting in an overall B+ grade.
Kumho Tire received high marks from Ecovadis in the areas of human rights education, work-family balance, improvements in flexible work style, supplier ESG management, and purchasing manager training, as well as a plan to become carbon neutral by 2045 and membership in the SBTi.
Source: Business Korea