Hankook Tire & Technology

Stakeholder engagement
Hankook Tire & Technology discloses an overview of the issues raised during its stakeholder engagement activities. The company discloses how often and through which channels it engages with various stakeholder groups.

Resource exploitation and circularity
Hankook Tire & Technology discloses its inputs, including its material footprint, according to an international standard.

Water
Hankook Tire & Technology has targets to reduce water pollution and reports progress against them.

Solid and air pollution
Hankook Tire & Technology discloses the proportion of hazardous waste treated to reduce pollution compared to total waste, the hazardous waste diverted from disposal and the waste directed to disposal.

No leading practices were identified in the social inclusion and community impact area.

Sustainability strategy and accountability
Hankook Tire & Technology discloses a materiality assessment which outlines how it identifies and prioritizes the most relevant sustainability impacts to the business. This has resulted in the company identifying 24 material issues, of which 3 it has identified as the most material to the business in which it will focus on. While the company discloses some sustainability targets, no evidence that the company has group wide targets on key sustainability topics for the most material parts of its value chain based on the SBTN Sectoral Materiality Tool could be found in the public domain. The company reports consistently against all its targets. No evidence was found that the company links performance criteria in senior executives’ remuneration policies to targets and objectives which cover nature, including biodiversity, and social issues. Although the company’s highest governance body had training on ESG Leadership from a third-party organization, it is unclear whether the content is related to its most material pressures on nature.

Lobbying
Hankook Tire & Technology only discloses a list of the memberships and trade associations related to sustainability. The company does not disclose a clear and detailed framework for assessing alignment of its trade associations with nature-positive policies. The company does not report (potential) misalignment between the lobbying activities of its trade associations and nature-positive policies.

Impact and dependencies assessment
Hankook Tire & Technology has not holistically assessed its impacts or how it depends on nature, including biodiversity. It has an opportunity to start such an assessment across its value chains, focused on quantification of its impacts or dependencies.

Key areas and species
Hankook Tire & Technology does not disclose key species or areas important for biodiversity affected by its operations or suppliers. It has an opportunity to increase its transparency.

Ecosystem conversion and restoration
Hankook Tire & Technology does not disclose a commitment to ensure zero conversion. The company does not disclose some activities to achieve conversion-free supply chains. The company does not disclose time-bound targets to achieve conversion-free supply chains. The company does not disclose a commitment to minimise ecosystem conversion. The company discloses a sustainable natural rubber policy and is part of the Global Platform of Sustainable Natural Rubber (GPSNR). The company does not disclose a commitment to restore ecosystems. The company does not disclose details and outcomes of ecosystem restoration projects in areas affected by its own operations or by its suppliers.

Resource exploitation and circularity
Hankook Tire & Technology does not report quantitatively on its group-wide circularity performance. The company does not disclose efforts to improve soil health.

Water
Hankook Tire & Technology increased total water withdrawal and water withdrawal intensity in 2021 compared to 2020. The company discloses a target to reduce Water intake intensity (3.8㎥/ton of finished product) by 30% compared with a 2018 baseline, but no goal was found for absolute withdrawal reduction. The company does not report how much water is withdrawn for its own operations in water-stressed areas. The company does not engage with suppliers to reduce water withdrawal. The company reports a decrease in water pollution. The company does not disclose its processes for managing and monitoring discharge water quality. The company regularly reports on water pollution. The company does not disclose a commitment to respect the right to water. The company does not disclose its processes for implementing preventive and corrective action plans for identified specific risks to the right to water and sanitation in its own operations.

Solid and air pollution
No evidence that Hankook Tire & Technology is reducing the production of hazardous waste was found. No evidence that the company reduces plastic use and waste in its own operations was found. The company does not report on the amount of plastic waste generated and proportions directed from or to disposal. The company does not report on air quality parameters of emissions of harmful air pollutants. The company does not report time-bound targets to reduce air pollutants across the most material parts of its value chain.

GHG emissions
Hankook Tire & Technology is reducing its scope 1 and 2 greenhouse gas emissions. The company discloses a target to reduce its greenhouse gas emissions by 50% by 2030 compared to 2018. The company reports progress against its scope 1 and 2 emissions target. No evidence that the company’s scope 1 and 2 emissions target is aligned with a 1.5-degree trajectory was found. No evidence that the company reduces its scope 3 emissions was found. The company does not disclose a time-bound target to reduce its scope 3 emissions. The company does not report progress against its scope 3 emissions target. No evidence that the company’s scope 3 emissions target is aligned with a 1.5-degree trajectory was found.

Invasive species
Hankook Tire & Technology has not identified any activities that could lead to the introduction of invasive alien species in its own operations.

Safe, clean, healthy and sustainable environment
Hankook Tire & Technology does not disclose a commitment to respecting local communities’ right to a safe, clean, healthy and sustainable environment or to zero tolerance for acts of violence, threats, intimidation or judicial harassment committed against land and environmental rights defenders.

Indigenous Peoples’ and land rights
Hankook Tire & Technology does not disclose a commitment to respecting Indigenous Peoples’ rights or land rights of local communities.

Hankook Tire & Technology has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially through its business relationships. The company has an opportunity to describe a process for assessing the human rights risks it has identified and to disclose what it considers to be its salient human rights issues. A description of this process would include how relevant factors are considered, such as geographical, economic and social factors. The company provides a grievance mechanism to its employees to raise human rights-related issues. However, there is no evidence it has a global system to take action to prevent, mitigate or remediate its salient human rights risks within its own operations and supply chains. No evidence that the company provides an example of the conclusions reached and actions taken or to be taken on at least one of its salient human rights issues as a result of assessment processes was found. While the company discloses the categories of stakeholders it engages with generally on sustainability issues, it is not clear if these stakeholders are those whose human rights have been or may be affected by its activities. No evidence that the company provides examples of its engagement with stakeholders whose human rights have been or may be affected by its activities was found.

Hankook Tire & Technology has a publicly available policy statement which shows it is committed to respecting the health and safety of workers. The company has a publicly available policy statement which shows it expects its suppliers to commit to respecting the health and safety of their workers. The company has an opportunity to disclose a time-bound target for paying all workers a living wage or that it has achieved paying all workers a living wage. The company has an opportunity to describe how it determines a living wage for the regions where it operates. The company has an opportunity to disclose the coverage of collective bargaining agreements. The company has an opportunity to describe how it works to support the practices of its suppliers in relation to freedom of association and collective bargaining.

Hankook Tire & Technology has a publicly available tax strategy, which is approved by the highest governance body. The company has an opportunity to disclose a policy on bribery and corruption and its processes for identifying and addressing bribery and corruption. The company includes anti-bribery and anti-corruption clauses in its contracts with direct business relationships. The company does not disclose its approach to lobbying and political engagement in a public policy document.