Cover of Hyundai Elevator’s ‘2024-25 ESG Report’ | Image by Hyundai Elevator
Hyundai Elevator has released its ‘2024-25 ESG (Environmental, Social, and Governance) Report,’ detailing the company’s sustainability performance and strategy for the year 2024.
Environmental improvements are particularly notable in this report. It highlights a 12.4% reduction in greenhouse gas emissions compared to the previous year, the expansion of environmental data disclosure to subsidiaries, and a full product life cycle environmental impact assessment.
In fact, total greenhouse gas emissions were reduced by 60% compared to the 2022 baseline. This achievement is credited to the expansion of solar power systems not only on factory rooftops but also in parking areas, along with company-wide carbon reduction initiatives. Hyundai Elevator has set a goal of achieving carbon neutrality by 2050.
The company also unveiled the results of its Life Cycle Assessment (LCA) for the first time. The LCA quantifies the environmental impact of a product from design and production to use and disposal, and it is expected to serve as a new benchmark for future eco-friendly product development.
For the first time, Hyundai Elevator also disclosed environmental data from overseas subsidiaries and affiliated companies. This move signals the company’s commitment to transparently providing comprehensive information to all stakeholders and to continuously expanding the scope of its ESG activities.
Hyundai Elevator is also expanding its corporate social responsibility efforts. After launching a choir for people with disabilities called the “Ollak Choir,” the company also hired baristas with disabilities to operate an in-house welfare cafe, contributing to job creation. In addition, the company is involved in activities such as removing invasive plant species from the local Binaeseom Island to preserve biodiversity, and continues to engage in donations, sponsorships, and volunteer work to foster a culture of mutual growth.
In the area of corporate governance, several improvements are also underway. The company avoided holding its annual general shareholders’ meeting on the peak date and now holds internal audit committee meetings at least once per quarter, demonstrating efforts to enhance internal control. It also established a foundation for introducing a pre-dividend, post-investment system by allowing the board to set dividend record dates, thus improving dividend predictability.
Hyundai Elevator stated that it views sustainability as a core management principle and is committed to achieving tangible results across all ESG domains. The company added that it will continue to strengthen its ESG management system to meet global standards.
Hyundai Elevator launched full-scale ESG management in 2022 and declared a mid-to-long-term plan to achieve carbon neutrality by 2050. It has also actively pursued initiatives such as strengthening board independence, building an inclusive organizational culture, and conducting community-linked social contribution activities.
Korea Central News Net 