Hyundai E&C announced on February 10 that it had been selected as top company in climate change response category announced by the ‘Korean Committee on Carbon Disclosure Project (CDP)’, a global sustainability management certification body.
At the ‘2022 CDP Korea Awards’, Hyundai E&C achieved the feat of being included in the ‘Hall of Fame’ for 5 consecutive years in the climate change category and at the same time joining the ‘Platinum Club*’, the highest level of CDP for 2 consecutive years.
*Platinum Club: Include companies incorporated in the Hall of Fame for 4 consecutive years.
CDP is an international, non-profit organization established in the UK in 2000, which requests the disclosure of information on carbon management strategies, risk management capabilities, greenhouse gas reduction efforts, etc. for globally leading companies with regards to their response to climate change, based on which it publishes and discloses an analysis report for investors and stakeholders.
The CDP questionnaire responses are provided to financial institutions around the world and used as investment guidelines, and are recognized as the most reliable indicator along with the ‘Dow Jones Sustainability Indices’ among sustainability ratings.
Hyundai E&C received the honor to join the ‘Hall of Fame’ for 5 consecutive years, for being included in the ‘Platinum Club’, the highest level of CDP Korea, for two consecutive years and at the same time acquiring the ‘Leadership Level’.
Ever since attaining ‘Leadership A’ for 5 consecutive years since 2014 and joining the ‘Hall of Fame’ in 2018, during the 2022 CDP assessment, Hyundai E&C joined the ‘Hall of Fame’ for five consecutive years by scoring high in all areas including ▲climate change response strategy ▲greenhouse gas reduction efforts ▲greenhouse gas management and ▲new business development.
Prior to joining the CDP Hall of Fame Platinum Club for the second consecutive year, Hyundai E&C has been incorporated in the Dow Jones Sustainability Index (DJSI) world in 2022 for 13 consecutive years and received an overall A rating from the Korea Institute of Corporate Governance and Sustainability (KCGS), being recognized for its outstanding sustainable management in Korea and abroad as a leading global builder.
This is seen as a result of Hyundai E&C’s establishment of its ‘Global Green One Pioneer' vision and active implementation of preemptive carbon-neutral management strategy in connection with Nationally Determined Contribution (NDC) goals.
Hyundai E&C has established a net zero management system to respond to climate change, such as expansion of renewable energy business and development of green technology, and expanded applications of smart construction technologies such as OSC method* and IoT to construction sites, while minimizing greenhouse gas emissions across all business cycles from construction, procurement/purchasing to logistics, etc.
*OSC (Off-Site Construction): Method of manufacturing construction elements off-site before assembling them onsite
Last year, Hyundai E&C became the first Korean builder to declare a ‘Net Zero by 2045’ vision and announced its net zero implementation strategy by publishing a report ‘Global Green One Pioneer: Net Zero by 2045’ including its vision for carbon neutrality.
An official from Hyundai E&C explained, “Joining the CDP Hall of Fame for 5 consecutive years and the Platinum Club for 2 consecutive years attests to Hyundai E&C’s highest level of preemptive and voluntary net-zero management and climate change response capability,” adding, “Going forward, Hyundai E&C will remain fully committed to its roles and responsibilities to achieve global carbon neutrality as a top green company.”