HYUNDAI TRANSYS Publishes 2024 Sustainability Report

- Report includes ESG strategies and achievements for sustainable management… published annually since 2020
- Composed of three sections: Road to Sustainability, ESG Performance, and ESG Data
- Continues to push toward “Transformation to Sustainable Mobility” with a 100% renewable energy goal by 2040

HYUNDAI TRANSYS has released its “2024 Sustainability Report,” which highlights the company’s environmental, social, and governance (ESG) strategies and achievements in its pursuit of sustainable management.

Since 2020, HYUNDAI TRANSYS has published its annual sustainability report to foster communication with various stakeholders at home and abroad, including customers and investors.

In his remarks, HYUNDAI TRANSYS President Yeo Su-dong said, “The global market is becoming increasingly uncertain with expanding geopolitical risks, intensified competition due to industry transitions, and strengthened ESG regulations. HYUNDAI TRANSYS will take these challenges as opportunities for new growth and continue to drive sustainable development.”

The “2024 Sustainability Report” is organized into three main sections: Road to Sustainability, ESG Performance, and ESG Data.

The “Road to Sustainability” section details the core strategies and action plans for the company’s mid- to long-term vision of “Transformation to Sustainable Mobility.” This includes its response strategies to climate change, such as carbon neutrality and the RE100 initiative, as well as its commitment to safety and health management, human rights management, and mutually beneficial partnerships with partner companies.

HYUNDAI TRANSYS aims to convert 35% of its domestic production sites and 100% of its overseas production sites to renewable energy by 2030, reaching 64% of its target. Furthermore, the company is committed to using 100% renewable energy across all sites by 2040. To achieve this, HYUNDAI TRANSYS is implementing a variety of strategies, including installing solar power facilities tailored to the specific conditions of each site, entering into Power Purchase Agreements (PPAs), and purchasing Renewable Energy Certificates (RECs).

The “ESG Performance” section provides a detailed account of HYUNDAI TRANSYS’s financial and non-financial ESG achievements, focusing on environmental management, talent management, quality management, customer satisfaction, and compliance and ethical management.

HYUNDAI TRANSYS also manages pollutants emitted during business operations that could impact air, soil, and other environmental factors. The company strictly adheres to environmental laws and regulations in each country where its overseas plants are located and thoroughly complies with ISO 14001 (Environmental Management System).

The “ESG Data” section provides detailed information on the company’s ESG activities in the areas of Environmental, Social, and Governance over the past three years.

For the publication of the sustainability management report, HYUNDAI TRANSYS adhered to the Global Reporting Initiative (GRI), a global guideline; the Sustainability Accounting Standards Board (SASB) for industry-specific reporting; and ISO 26000 and the European Sustainability Reporting Standards (ESRS) for sustainability performance.

In January of this year, HYUNDAI TRANSYS earned a Gold rating from EcoVadis, a global sustainability assessment agency, in recognition of its efforts in reducing carbon emissions, managing supply chain risks, and strengthening governance.