On July 20, Hyundai Steel released the 2023 edition of its integrated report Beyond Steel, which lists the steelmaker’s sustainable management goals and achievements.
The 2023 report highlights the company’s ESG management, including Hyundai Steel’s ESG mid-to-long-term strategic direction, framework, significance assessment results, and consolidated ESG activities, organized by category. Also included is a fact book that outlines quantitative financial and non-financial data and achievements.
For the Environmental (E) category of ESG management, the report presents the company’s mid-to-long-term carbon-neutral roadmap to achieving Net Zero by 2050, and outlines low-carbon product development and carbon reduction strategies that are being adopted to attain this goal. Beyond Steel also includes data reflective of the steelmaker’s eco-friendly management activities, such as greenhouse gas Scope 3 data and biodiversity risk analytics for regions where Hyundai Steel’s domestic facilities are located.
In terms of the Social (S) category of ESG management, Beyond Steel summarizes the key strategies, framework, and major safety-related activities being used by the company to strengthen its occupational health and safety management. For the Governance (G) category, the report introduces Hyundai Steel’s compliance management system, designed to promote transparent management and key activities being undertaken by the Hyundai Steel Compliance Management Committee.
“The importance of corporate responsibility and sustainability, including climate change response, carbon-neutral strategies, and ESG supply chain management, is increasing every year,” Hyundai Steel President & CEO An Tong-il is quoted in the report. “We must all pull our capabilities together to continue to promote activities for the sustainable growth of the company and society as a whole.”
Hyundai Steel has been publishing its integrated report every year since 2016, combining its sustainability and annual reports to transparently disclose and communicate its commitment to sustainable management. To this effect, the company’s activities and financial and non-financial performance are highlighted every year in the report.