On Monday, Hyundai Elevator, a leading global provider of elevator and escalator solutions, announced its pledge to achieve carbon neutrality by 2050. Hyundai Elevator has outlined a roadmap to reduce its carbon emissions as part of its ambitious goal.
The company aims to achieve a 42% reduction by 2030 and a 71% reduction by 2040, based on its carbon emissions from last year when it constructed the Chungju Smart Campus.
Hyundai Elevator’s ESG report, released alongside its commitment to carbon neutrality, comprises three integral parts that showcase its dedication to environmental, social, and governance principles.
The first part focuses on ESG management, highlighting the elevator manufacturer’s current ESG practices and methods for assessing materiality. This section provides insight into the company’s approach to managing and addressing key sustainability issues.
The second part of the report, titled ESG progress, highlights the qualitative achievements of Hyundai Elevator in its ESG management endeavors. It showcases the company’s notable advancements and initiatives in areas such as environmental conservation, social responsibility, and corporate governance.
Lastly, the report includes the ESG fact book, which presents quantitative data and statistics demonstrating Hyundai Elevator’s tangible progress and outcomes in various ESG areas.
This declaration is based on the Science Based Targets initiative (SBTi), a global campaign that supports businesses in setting emissions reduction targets consistent with climate science. By adhering to the SBTi’s goal of limiting global warming to 1.5 degrees Celsius, Hyundai Elevator aims to contribute to the fight against climate change.
The company aims to achieve these targets through the installation of additional renewable energy sources, specifically solar power generation facilities. Furthermore, Hyundai Elevator intends to expand its electric and hybrid corporate vehicles fleet and actively engage in energy-saving campaigns, promoting investments and activities that contribute to environmental conservation.
Hyundai Elevator CEO Cho Jae-Chun expressed, “Our objective is to establish ourselves as a trusted global company and pave the way for a sustainable future through transparent ESG management practices, which encompass the release of annual reports.”
