HYUNDAI WIA has achieved high marks for sustainable management from a global ESG rating institution.

HYUNDAI WIA announced on April 7th  that Ecovadis has conferred a “gold medal” for the second consecutive year for the 2024 sustainability assessment. Ecovadis is a global ESG rating institution that rates corporate sustainability across 180 countries and 130,000 corporations on Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The gold rating awarded to HYUNDAI WIA is conferred only to the top 5% of corporations assessed. The Ecovadis rating is recognized as a marker for rating management capabilities by global automakers for global automobile parts manufacturing corporations.

HYUNDAI WIA received the highest marks in Environment in the assessment from Ecovadis. HYUNDAI WIA is a participant in the “RE100” initiative, pledging to transition to 100% renewable energy and aims to complete the transition by 2045. HYUNDAI WIA is currently operating solar power facilities at Changwon Plant 1, the employee welfare center “Irumjae” in Changwon, and the R&D Center in Uiwang, Gyeonggi-do. The company plans to harness 7,954 MWh of solar energy annuallty by 2026.
HYUNDAI WIA also received positive scores in the areas of Ethics and Sustainable Procurement.  The review noted that the unfair trading regulations have been significantly strengthened and that a culture of adherence to fair trading has set root. Additionally, HYUNDAI WIA promotes safety and security management to partner companies.  HYUNDAI WIA also plans to provide risk assessments and health and safety capability consulting for partner companies. HYUNDAI WIA will also open the doors of S+, the on-site “experience-based safety education center” in Changwon to 500 partner companies to provide safety training.

HYUNDAI WIA received the highest rating of “A” in the “2024 CDP Climate Action Report”, conducted by CDP (Carbon Disclosure Project) in February. This is a step up from the “A-” rating received last year. The CDP is a global institution that compiles yearly climate change information from global corporations and publishes an assessment report. This year more than 24,800 corporations participated in the assessment.

The improved calculation method for carbon emissions was evaluated positively in the assessment report. CDP classifies carbon emissions into ▲Scope1(Direct emissions), ▲Scope 2(Emissions caused from external energy usage), and ▲Scope 3(Indirect emissions occurring over the entire supply chain) based on range for evaluation. HYUNDAI WIA calculated Scope1 and Scope 2 emissions for all domestic and overseas sites. Additionally, HYUNDAI WIA increased disclosure accuracy by improving the calculation method for Scope 3 emissions by tracking emissions caused by raw material procurement as well as the processing, utilization, and disposal of products after sale.

HYUNDAI WIA plans to expand climate action in line with the growing international attention and need for sustainable management. "It is truly meaningful to have achieved a gold rating for two consecutive years. We will continue with our environmental actions and grow with the local community for a sustainable management," said an official from HYUNDAI WIA.