Sustainability Overview
In accordance with the demand and expectation from various stakeholders, HAMC is trying to evolve into a sustainable company fulfilling its economic, social, and environmental responsibilities. As part of these efforts, we have established a systematic sustainability management operating system, including a decision-making body in which the CEO and top management participates directly. Key issues in economic, social, and environmental aspects were derived in consideration of opinions of various stakeholders such as customers, employees, and suppliers, global sustainability management initiatives, and corporate management activities. Responses and performances for each issue are transparently disclosed through the Sustainability Report.
Philosophy & Principles
HAMC strives to carry out its economic, social, and environmental responsibilities by establishing a CSE (Creating Social Eco-system) that can solve social issues and enhance the sustainability of mankind through close cooperation between businesses and civil society.
- CSE Creating Social Eco-system
- Customers
- Employees
- Community
- Investors
- Business Partners
- Company
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- Zero Fatality
- Provide solutions that enable user safety and comfort
About 3,700 casualties worldwide due to various traffic accidents every day
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- Zero Emission
- Promote products and activities that will contribute to reducing GHGs emissions
10 million people lose their homes unless global average temperature rise is not maintained below 1.5℃
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- Zero Waste
- Sustainable use of resources
Waste and resource depletion issues that have expanded from land to ocean
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- Zero Impact
- Minimize harmful impacts to stakeholders
Changes in perception of environmental pollution, use of harmful substances, and ESG
Various issues that can affect our sustainability are collected and grouped into categories such as products, customers, talent management, local communities, and the environment for materiality analysis. We select our focus issues upon evaluation of the internal and external issues based on business impact and stakeholder interest. Our Sustainability Report is prepared to fully examine and communicate our activities on these focus issues. HAMC recognizes that the transparent disclosure of sustainability management activities and their performance is an important factor in fulfilling our economic, social and environmental responsibilities. The company's plans and performances including the strategic direction of the sustainability are reviewed by the Sustainability Steering Committee.
| Reported Issues | UN SDGs Linkage | |
|---|---|---|
| Focus Issues & Business Cases |
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| Sustainability Management |
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Sustainability Steering Committee
Sustainability Steering Committee
HAMC operates the Sustainability Steering Committee(SSC) composed of the company's top management to systematically and continuously encourage and ensure that sustainability is a consideration for employees‘ daily work. Sustainability activities and performance are regularly reported to the top management through this committee. As the decision-making body for sustainability, the SSC discusses and decides major issues upon voting. The SSC also discusses and decides the direction of the company's future sustainability management based on the current industry situation and trends, which are shared with the sub-committees so that activities to derive actual change takes place.
- Presidents of all Business Units
- Head of Vietnam Operations
- Head of China Operations
- Head of Europe Operations
- Chief Strategy Officer
- Chief Finance
Officer - Chief Administration Officer
Specialized Sub-committees
The Sustainability Management Secretariat (previously the Sustainability Management Response TFT) and the four specialized sub-committees take lead in HAMC’s sustainability activities on a corporate-wide level including overseas subsidiaries. The specialized sub-committees were established to ensure the planning and execution of sustainability management activities for each field. The sub-committees regularly review and monitor the activities, and major issues are reported to the SSC for review and guidance, and decision-making. The CEO appoints each committee’s chairperson who is top management-level executive (i.e. C-level). And each committee is composed of members who are executives in charge of each sector. Together, they discuss and carefully review the agenda items for each committee sector upon their expertise. The Sustainability Management Secretariat(SMS) serves as the secretary for each committee, and organizes the regular meetings held twice a year during which members check the progress of implementation goals as well as discuss solutions to the issues. For effective work undertaking and improvements, the specialized sub-committees have designated working-level employees who are usually team leaders to plan and execute the improvement tasks.
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Green Management Committee Chairperson :
Chief Technology Officer/Chief Production Officer - Review and resolution of green management-related agenda such response to climate change, reducing environmental impacts, eco-friendly activities, and safety and health issues
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Social Contribution Committee Chairperson :
Chief Administration Officer - Review and resolution of social-related agenda such as HR management, ethical management, audit, information security, purchasing, and partner relationships
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Stakeholder
Committee Chairperson :
Chief Finance Officer - Review and resolution of agenda related to communication with internal and external stakeholders such as investors, shareholders, customers, and local communities
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Risk Management Committee Chairperson :
Chief Strategy Officer - For business continuity, risk management in the overall management of the company, including environment, supply chain, purchasing, ethics, finance, and reputation, and deliberation on related issues
Sustainability Management Secretariat
The Sustainability Management Secretariat(SMS) assists in raising employee awareness of sustainability management activities and promoting improvement activities. The SMS members serve as stewards for the sub-committees. They review the planning of improvement activities in each field so that the direction and feedback discussed by top management and sub-committee members are properly reflected in the activities of each committee. In particular, they share both the domestic and global trends of sustainable management, manage and monitor the implementation of improvement tasks, and provide assistance to ensure that task are completed.
Key Agendas for Sustainability Steering Committee & its Sub-committee (2021 2nd Half)
| Committee Name | Key Agendas | Participated Members |
|---|---|---|
| Sustainability Steering Committee |
|
10 out of 10 members |
| Green Management Committee |
|
13 out of 13 members |
| Social Contribution Committee |
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11 out of 13 members |
| Stakeholder Committee |
|
3 out of 3 members |
| Risk Management Committee |
|
3 out of 3 members |
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Key Agendas for Sustainability Steering Committee & its Sub-committee (2021 1st Half) 펼치기
Key Agendas for Sustainability Steering Committee
& its Sub-committee (2021 1st Half)Committee Name Key Agendas Participated Members Sustainability Steering Committee - Report on the major activities and improvements for sustainabilitiy in the first half of 2021
- Voting for major KPI establishments
- Report on the setting of the Science-based Target (SBT)
- Voting for acquisition of carbon labeling on major products
- Appointment of new members of the SSC and its sub-committee
10 out of 10 members Green Management Committee - Report on the 2nd planning period results and 3rd planning period plan for carbon emissions
- Voting for SBT settings
- Report of the global environmental &safety inspection results
12 out of 13 members Social Contribution Committee - Progress report on major sustainabilty improvement projects of overseas subsidaries in 2021
- Voting for the resolution to strengthen supplier re-evaluation items in 2021
- Report of global human rights impact assessment results and voting for annual assessment
- 1-1. Report on the Establishment of sustainable procurement policy and its declarations of compnay-wide announcement
- 1-2. Report on the ESG-related provisions in supplier contracts
- 1-3. Report on the establishment of the sensitive transaction process
12 out of 13 members Stakeholder Committee - Report on the scheduled to publish 2020 Hyosung Advanced Materials' Sustainability Report
- Report on the results of CSR activities in 2020 and the first half of 2021
3 out of 3 members Risk Management Committee - Report on the risk-related status by ESG areas
- Report on the mandatory ESG disclosure for listed firms in Korea
3 out of 3 members
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Key Agendas for Sustainability Steering Committee & its Sub-committee (2020 2nd Half) 펼치기
Key Agendas for Sustainability Steering Committee & its Sub-committee (2020 2nd Half) Committee Name Key Agendas Participated Members Sustainability Steering Committee - Report on major activities and performances of sustainability in 2020
- Appointment of new members of the sustainability Committee and its Sub-Committees
10 out of 10 members Green Management Committee - Report on performance compared to 2020 environment & safety invest plan and voting for the 2021 plan
- Report on results of environment and safety inspection at the workplace
- Voting for the “2030 GHG reduction Target”
- Report on the necessity of strengthening responses to Climate Change
12 out of 13 members Social Contribution Committee - Report on the results of improvement by social sector in 2020
- Voting for 3rd of Code of ethics
- Report on the improvement plans for ethics, human right, environment and etc..(including overseas)
11 out of 13 members Stakeholder Committee - Report on sustainability report
- Report on results of improvement by Governance sector in 2020
- Report on 2021 CSR plan
3 out of 3 members Risk Management Committee - Report on COVID-19 response
- Report on latest trends in response to Climate Change
3 out of 3 members
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Key Agendas for Sustainability Steering Committee & its Sub-committee (2020 1st Half) 펼치기
Key Agendas for Sustainability Steering Committee & its Sub-committee (2020 1st Half) Committee Name Key Agendas Participated Members Sustainability Steering Committee - Status reporting of Sustainability improvement tasks
- Voting for selecting Focus Issues of the Sustainability Report 2019
10 out of 10 members Green Management Committee - Voting of the “Green Management Vision 2030”
- Voting on establishing the new green management system
- Report on the environmental and safety monitoring results for all sites
8 out of 9 members Social Contribution Committee - Report on education reinforcement to enhance employee competence
- Process improvement to reinforce supply chain (suppliers & partners) sustainability
- Revision and update of the “Employee handbook for fair transaction and compliance
10 out of 10 members Stakeholder Committee - Voting for the CSR operational system and strategy
- Report on the website renewal plan
- Report on the issuance of 2019 Governance Report
3 out of 3 members Risk Management Committee - Report on COVID-19 response
- Report and voting regarding preparation for the prolongation of COVID-19
3 out of 3 members
Sustainability Achievements
Key Sustainability Achievements
of Hyosung Advanced Materials Corp. (Domestic)
Hyosung Advanced Materials Corp. was established on June 1, 2018, so the achievements are released starting 2018
Horizontal scroll
| Area | Achievements | Unit | 2020 | 2019 | 2018 | |||
|---|---|---|---|---|---|---|---|---|
| Environment | Green Investment & Performance | Eco-friendly products & services sales | Mil. KRW | 91,336 | 64,577 | 55,087 | ||
| Eco-friendly products & services purchases | Mil. KRW | 735 | 1,127 | 537 | ||||
| Waste and Emissions disposal cost / Environmental Restoration Costs | Mil. KRW | 1,121 | 1,132 | 624 | ||||
| Investment for environmental activities | Mil. KRW | 850 | 776 | 765 | ||||
| Water Consumption (by source) |
Total water consumption | Tons | 3,738,471 | 4,531,972 | 3,721,566 | |||
| Waterworks | Tons | 11,006 | 19,719 | 14,294 | ||||
| Groundwater | Tons | 0 | 0 | 0 | ||||
| Industrial water | Tons | 3,727,465 | 4,512,523 | 3,707,272 | ||||
| Stream water | Tons | 0 | 0 | 0 | ||||
| Amount of recycled water | Tons | 804,228 | 2,442,607 | 1,287,800 | ||||
| Wastewater & Water Treatment | Wastewater discharge | Tons | 1,044,753 | 895,712 | 783,869 | |||
| Biological Oxygen Demand(BOD) | Tons | 1,200 | 1,062 | 1,024 | ||||
| Chemical Oxygen Demand(COD) | Tons | 7,048 | 9,409 | 10,737 | ||||
| Suspended Solids (SS) | Tons | 1,501 | 1,569 | 1,270 | ||||
| Total Nitrogen(T-N) | Tons | 4 | 7,513 | 9,304 | ||||
| Total Phosphorus(T-P) | Tons | 105 | 76 | 167 | ||||
| Waste | General Waste | Sub-total | Tons | 5,108 | 5,417 | 3,375 | ||
| Waste Processing | Tons | 0 | 0 | 0 | ||||
| Waste Consignment Processing | Recycled | Tons | 4,227 | 4,500 | 2,891 | |||
| Incinerated | Tons | 728 | 849 | 458 | ||||
| Landfill | Tons | 154 | 67 | 27 | ||||
| Others | Tons | 0 | 0 | 0 | ||||
| Designated Waste | Sub-total | Tons | 934 | 569 | 502 | |||
| Waste Processing | Tons | 0 | 0 | 0 | ||||
| Waste Consignment Processing | Recycled | Tons | 880 | 515 | 486 | |||
| Incinerated | Tons | 49 | 51 | 13 | ||||
| Landfill | Tons | 5 | 1 | 0 | ||||
| Others | Tons | 0 | 3 | 2 | ||||
| Air Pollution | Nitrogen oxides (NOx) | Tons | 100 | 41 | 44 | |||
| Sulfur oxides(SOx) | Tons | 0 | 13 | 2 | ||||
| Particle matter (PM) | Tons | 40 | 16 | 20 | ||||
| Hazardous Chemicals | Hazardous chemicals usage | Tons | 16,688 | 12,353 | 12,202 | |||
| Social | Talent Management 1) | Total training expenses 2) | Thousand KRW |
473,972 | 832,815 | 318,075 | ||
| Total training hours | Hours | 32,463 | 41,372 | 38,708 | ||||
| Average training hours per person 2) (Total training hours / No. of employees) |
Hours | 32 | 40 | 39 | ||||
| Number of training participants | Persons | 17,895 | 14,896 | 10,429 | ||||
| Environment | Persons | 1,477 | 465 | 352 | ||||
| Ethics and non-corruption | Persons | 805 | 95 | 65 | ||||
| Fair trade & transaction 3) | Persons | 912 | 23 | |||||
| Health & safety | Persons | 6,991 | 3,674 | 1,027 | ||||
| Human rights | Persons | 2,769 | 2,355 | 2,284 | ||||
| Management philosophy | Persons | 996 | 556 | 223 | ||||
| Sustainability | Persons | 16 | 0 | 0 | ||||
| Health & Safety | Employee accident rate (No. of casualties / No. of employees X 100) |
% | 1.1 | 2.5 | 1.6 | |||
| Labor Union | Labor union membership rate | % | 75.8 | 76.2 | 87.1 | |||
| CSR | Number of beneficiaries | Persons | 32,811 | 311 | Recorded from ’19 | |||
1) Training time and number of participants increase in ’20 due to the addition of new courses
in environment, ethics, human rights, safety as well as the expansion in education targets.
2) ’18 only covers the period after the incorporation on June 1 2018 (7 months, June ~ December 2018).
3) Ethics, Corruption, Fair trade & transaction were carried out under one course “Ethical management” in 2018,
and therefore can not be separately reported.