Hanon Systems Releases 2022 Sustainability Report

    Sixth consecutive report; second in dual language (Korean and English)

    Includes the company’s financial and non-financial activities and achievements with stakeholders

SEOUL, Korea, July 3, 2023 – Hanon Systems (KS:018880), a leading global supplier of automotive thermal and energy management solutions, today announced the company has published its 2022 sustainability report that combines the company’s annual and sustainability reports into a consolidated disclosure.

The report includes consolidated and non-consolidated financial statements for 2022, as well as highlights key 2022 achievements and areas of focus for 2023 that advance the ESG framework that surround environmental, social and governance factors.

Representative achievements in 2022 include establishing of the ESG Committee under the Board of Directors, focusing on responsible business practices and committing to establish science-based emission reduction targets to support the company’s journey to be carbon neutral by 2040. 

ESG ratings from global sustainability evaluation agencies are trending upward for Hanon Systems. The company received an excellent evaluation with a negligible risk rating from Sustainalytics, a leading independent ESG and corporate governance research, ratings and analytics agency. S&P Global, which provides the data for the globally recognized Dow Jones Sustainability Indices (DJSI), rated the company with 58 points, an increase of 16 points from the previous year.

Minimizing the company’s environmental impact in the design, procurement of goods and manufacture of automotive thermal solutions is a priority. The company outlines its strategy to be carbon neutral by 2040 in the report. Hanon Systems aims to achieve an interim target for 2030 that includes an absolute reduction of 50% in Scope 1 emissions and an 80% reduction in Scope 2 emissions compared to the 2019 baseline.

“The company continues its efforts to drive sustainable growth and operate as a good corporate citizen,” said Hanon Systems President and Chief Executive Officer Min Sung. “This report serves as a platform to share the company’s progress in a transparent way.”

View the report from the Investors section of the company’s website at www.hanonsystems.com.