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Hankook Tire Commits to Science-Based Targets Initiative

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・Submitted medium- to long-term targets for reducing greenhouse gas emissions in August
– Validation of submitted targets by SBTi expected by early 2023
– Join the business goals of the SBTi-led 1.5°C campaign to limit global warming
– Demonstrate commitment to environmental sustainability by joining SBTi initiative in March

Nashville, Tennessee., September 19, 2022 /PRNewswire/ — Hankook Tire, the world’s leading tire manufacturer, commits to the Science Based Targets Initiative (SBTi) by submitting targets to reduce greenhouse gas (GHG) emissions from its operations Did.

SBTi is a partnership between CDP (formerly Carbon Disclosure Project), United Nations Global Compact (UNGC), World Resources Institute (WRI), and World Wildlife Fund (WWF). Over 3,600 global companies work with his SBTi to set, measure and report science-based reduction targets in line with the Paris Agreement, a legally-binding international treaty on climate change.

Hankook Tire joined the SBTi initiative in March this year as the first tire manufacturer in Korea where it is headquartered. In August, the company submitted science-based medium- to long-term emission reduction targets. Validation he is scheduled for early 2023.

The company plans to reduce its Scope 1 and 2 emissions from its production stages by 46.2% by 2030 from its 2019 baseline. This includes reducing all greenhouse gas emissions from raw material acquisition, distribution, investment, production and other key business activities.

Additionally, Hankook Tire announced its participation in the 1.5°C Business Ambition Campaign. This is an urgent call to action urging companies to set a target to limit global warming to 1.5°C and strive for a net-zero future to avoid the worst impacts of climate change. Led by SBTi in collaboration with international partners, more than 1,300 global companies have joined the campaign.

Since 2010, Hankook has established climate change and sustainability as a major initiative and has made various efforts to reduce greenhouse gases in the tire manufacturing process. In July last year, an ESG committee was established within the board of directors to strengthen the company’s ESG management. The ESG Committee accelerated Hankook Tire’s long-term goal of reducing greenhouse gas emissions by 50% by 2030 from a 2018 baseline by 2050. The Commission has also created a new 2050 Carbon Neutral Roadmap that includes Scope 3.

This commitment to environmental sustainability has yielded many surprising results. Since 2016, the company has successfully reduced its greenhouse gas emissions every year. His GHG emissions in 2021 have been reduced by approximately 54,487 tCO2 equivalent globally. This represents a 3% reduction in total emissions compared to 2020.

Based on these initiatives and achievements, Hankook Tire has been recognized by authoritative bodies in this field. In 2021, Hankook Tire received a platinum medal in the EcoVadis assessment for corporate social responsibility. The company is also listed on the Dow Jones Sustainability Indices World for six consecutive years from 2016 through 2021. In 2022, Hankook Tire achieved the highest score in the Sustainability Yearbook 2022 published by S&P Global and was awarded the highest rating, Gold Class. in the auto parts sector.

About Hankook Tire America Corporation
Hankook Tire America Corp. will continue to grow in the U.S. tire market by leveraging investments in technology, manufacturing and marketing to provide high-quality, reliable products that are safer for consumers and the environment. Leader.Head office location Nashville, Tennessee.Hankook Tire America Corp. markets and distributes a complete line of high and ultra-high performance passenger car tires, light truck and SUV tires, and medium-duty truck and bus tires. usaHankook Tire America Corporation is a subsidiary of Hankook Tire and Technology. Seoul, South Korea.

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Source Hankook Tire America Corporation.