The three construction equipment companies of HD Hyundai will be stepping forward to support ESG management of its partners.
Hyundai Genuine, Hyundai Construction Equipment, Hyundai Doosan Infracore announced that it kicked off their ‘ESG Management Support Project for Supply Chains’ on Wed 11 with the Korea Productivity Center(KPC).
The ‘ESG Management Support Project for Supply Chains’ is a project that aims to help partners that have difficulty in establishing an ESG management system to build their own system and develop the ability to preemptively respond to EU’s directive for corporate sustainability due diligence (CSDDD).
Going forward, the three construction equipment companies will 1) Conduct ESG training for partners, 2) Create an ESG evaluation index and provide self-online diagnosis, and 3) Enhance the overall ESG level of partners through site inspection and consultations.
Three hundred partners will go through self ESG diagnosis this year using an online diagnosis system developed by KPC to help relieve the burden partners may experience when responding to assessment duties and also to enhance confidence of the diagnosis results.
In addition, sixty or more partners that find the need for additional site inspection and consultation will be selected based on their business importance and ESG management level and will be provided with new tasks and improvement measures.
A representative of Hyundai Genuine mentioned, “The three construction equipment companies are stretching areas of support to help partners better respond to ethical management, fair trade, human rights, environmental, social and other ESG issues” and added, “We plan to level up ESG management of our supply chains going forward by spreading the system to overseas offices in the future.”
Meanwhile, Hyundai Genuine, Hyundai Construction Equipment, and Hyundai Infracore set a goal last year to reach carbon neutrality by 2050 in all of its worksites worldwide along with measures to combat climate change and a strategic roadmap for green business. Hyundai Construction Equipment and Hyundai Doosan Infracore have also established an ESG Committee within their boards and is operating in-house ESG Management Committees to build ESG governance and internalize ESG management within the company. <EOD>