Hyundai E&C announced on Wednesday, February 7, that it has been awarded the highest level of ”Leadership A” for its response to climate change by the Korean Committee of the Carbon Disclosure Project (CDP), a renowned global organization assessing sustainability management.

Leadership A is a distinction given to only 300 companies, accounting for 1.5 percent of the 23,200 global entities evaluated in 2023 CDP assessment. Among the Korean builders, Hyundai E&C stands alone in achieving this prestigious grade.

CDP is a non-profit global organization established in the UK in 2000 which requests major corporations worldwide to disclose details of their carbon management practices, risk management strategies, and efforts to reduce greenhouse gas emissions to address climate change. It then compiles and publishes reports based on this information for the benefit of investors and stakeholders.

CDP responses are provided to financial institutions around the world to inform their investment decisions and are esteemed as one of the most reputable sustainability benchmarks, on par with the Dow Jones Sustainability Indices (DJSI).

In the 2023 CDP Climate Change Assessment, Hyundai E&C achieved an A for leadership in climate change, with high scores in all areas, including ▲climate change response strategies, ▲greenhouse gas reduction efforts, and ▲climate change scenario analysis.

In particular, Hyundai E&C operates an environmental management team within the Safety Business Support Division, tasked with overseeing environmental and energy management across the company. In its commitment to reducing greenhouse gas emissions, the company undertakes a variety of actions, including: ▲broadening the verification scope of Scope 3 greenhouse gas emissions, ▲setting internal criteria for biodiversity and regulated species, ▲enhancing the greenhouse gas aggregation system, ▲and formulating guidelines for energy-efficient temporary offices.

Hyundai E&C became the first listed builder in Korea to declare net-zero initiative in October 2022, and under the vision of “Global Green One Pioneer”, the company has not only continued to implement various green projects such as renewable energy, hydrogen business, zero-energy buildings, and CCUS*, but has also been actively implementing proactive carbon management strategies such as energy management system certification (2012), coal phase-out declaration (2021), and establishment of 2045 Net-Zero Strategy (2022).

*CCUS (Carbon Capture, Utilization and Storage): A technology that captures and stores or utilizes carbon emitted in the process of using fossil fuels.

Additionally, Hyundai E&C received acclaim for its sustainability efforts as global construction leader at the 2022 CDP Korea Awards, earning a place in the “Hall of Fame” for the Climate Change category for the fifth year in a row, as well as joining the most prestigious “Platinum Club” for a second consecutive year.

A representative for Hyundai E&C stated, “Securing ‘Leadership A’ in the CDP report reflects our ambitious net-zero practices and our competitive edge in addressing climate change.” “As a global builder, we are committed to engaging in the battle against global climate change and laying the groundwork for sustainable management through enhancing our low-carbon construction expertise.”