3 HD Hyundai affiliates to help ESG management of biz partners
Jae-Fu Kim
Jan 12, 2023 (Gmt+09:00)
HD Hyundai CEO Chung Ki-sun Three construction machinery affiliates of South Korea's HD Hyundai will support environmental, social and governance (ESG) management of their partner companies.
Hyundai Genuine, Hyundai Construction Equipment Co. and Hyundai Doosan Infracore Co. on Wednesday said they started a project to support ESG management of supply chains at their partner companies with the public agency Korea Productivity Center (KPC).
The project seeks to support partners having trouble pushing forward ESG management and assist them in forming their own ESG management systems and enhance their responses to the due diligence guidelines of the European Union's supply chains.
The three affiliates will provide to partner companies ESG training, setup of an ESG evaluation index and online self-diagnostic system, and due diligence and consulting.
This year, 300 partner companies will do an ESG self-diagnosis. Use of KPC's online ESG self-diagnostic system will raise the reliability of diagnostic results, and depending on the importance of transactions and ESG management standard, 60 companies will be selected for additional on-site due diligence and consulting.
"We are expanding our support to allow our partner companies to easily respond to ESG issues such as ethical management, fair trade, human rights, the environment and social issues," a Hyundai Genuine source said.
"We also plan to streamline ESG management of supply chains by spreading the ESG management system for supply chains to overseas business sites," he added.