SEOUL, South Korea--(BUSINESS WIRE)--HS Hyosung Advanced Materials Corporation (KRX: 298050) has been awarded the ‘Platinum Medal,’ the highest grade, in the 2024 sustainability assessment conducted by EcoVadis, a global assessment institution in supply chain ESG assessments.
Ranking in the top 1% of all global companies, HS Hyosung Advanced Materials scored 83 points, the highest ever since it began participating in the EcoVadis assessment. It had received the ‘Gold Medal’ for three consecutive years since 2021. This year, HS Hyosung Advanced Materials has succeeded in earning the Platinum Medal despite the stricter criteria under the revised assessment system that came into effect this year.
In the latest assessment, HS Hyosung Advanced Materials made significant strides by obtaining higher grades in all categories compared to last year. This achievement is attributed to the establishment of an emissions management system and SBTs for all business sites, the reorganization of supply chain management policies, and the development of a supply chain due diligence system.
EcoVadis is the global standard for corporate sustainability ratings and has assessed more than 130,000 companies worldwide. The assessment comprises 21 sustainability criteria on four core themes: Environment, Labour and Human Rights, Ethics and Sustainable procurement. Based on their assessment, EcoVadis awards companies a medal from Platinum (top 1%), Gold (top 5%), Silver (top 15%), to Bronze (top 35%).
Yong soo Cho, CEO of HS Hyosung Advanced Materials, said, “This achievement was result of our continuous commitment to addressing stakeholder needs, such as enhanced climate change response and systematic supply chain management. We will continue to create value that enriches humanity through our ESG management.”
HS Hyosung Advanced Materials, changed its name from Hyosung Advanced Materials in September 2024, has established four strategies for sustainable management: Zero Fatality, Zero Emission, Zero Waste, and Zero Impact. HS Hyosung Advanced Materials is dedicated to fostering social development through strengthened sustainable corporate management and enhanced corporate value. Furthermore, it is formulating ESG management strategies and implementing them across all areas of operations, guided by the Sustainability Steering Committee, chaired by top management, along with its specialized subcommittees.
