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Hyosung Advanced Materials received the Carbon Management Honors Club and Carbon Management Sector Honors at the 2020 CDP Climate Change Response/Water Management Awards held at Hotel Glad Yeouido on April 28. Hyosung was given the Carbon Management Sector Honors.
The Carbon Management Sector Honors award is given based on CDP’s evaluation to companies with the highest rating in the sector. Hyosung Advanced Materials and Hyosung received A and A- ratings, respectively, in the raw material sector.
Hyosung Advanced Materials in particular was honored with the Carbon Management Honors Club, which is given to the top five companies, for having received the highest score regardless of industry.
London-based NGO CDP (Carbon Disclosure Project) discloses the climate change strategy, greenhouse gas emission information, and carbon management strategy of major listed companies in 91 countries to provide the assessment data to leading financial institutes such as pension funds.
The CDP score, along with the Dow Jones Sustainability Index and FTSE4GOOD (Socially Responsible Investment Index), is the most respected indicator for the evaluation of climate change response, an area of corporate sustainability management. More than 9600 companies worldwide participated in the 2020 CDP evaluation of environment management. As a result of the CDP evaluation for 2020, the CDP Korea Committee selected 18 out of 200 domestic companies for Carbon Management Sector Honors.
The award is in recognition of the company’s preemptive efforts to respond to climate changes. Hyosung and Hyosung Advanced Materials establish and implement the green management strategy, including response to climate changes, through the specialized Committee directly led by the top management. They have made every effort to invest in eco-friendly facilities and systems and apply eco-friendly processes and engineering to minimize the impact of manufacturing on the environment. Moreover, each business division has led the development of lightweight products and eco-friendly materials to reduce greenhouse gas emissions at the use stage.
“As a global materials company with the world's leading products, we intend to expand the emission management domain not only in Korea but also overseas subsidiaries. We will use this award as an opportunity to establish ourselves as a leading company in carbon reduction through active emission reduction activities,” said Hwang Jeong-mo, CEO of Hyosung Advanced Materials.