Hanon Systems Unveils Major Sustainability Initiatives for 2024
Hanon Systems Releases 2024 Sustainability Report
Key Highlights of the Report
The latest sustainability report from Hanon Systems includes significant achievements such as the validation of carbon emission reduction targets by the Science Based Targets initiative (SBTi) and recognition in S&P Global's Sustainability Yearbook for 2025. This marks the eighth consecutive sustainability report from the company and the fourth published in both Korean and English.
Commitment to Environmental Goals
In this year's report, Hanon Systems emphasizes its impressive progress in its environmental, social, and governance (ESG) performance. Notably, the company announced the formal approval of its near-term 2030 greenhouse gas (GHG) reduction goals, along with a robust commitment to achieving net-zero emissions by 2050.
Hanon Systems aims for a substantial 50% reduction in absolute Scope 1 and Scope 2 emissions as well as a 55% decrease in Scope 3 emissions related to purchased goods and services per ton of raw material by 2030, using 2019 as a baseline. By 2040, the aim is to achieve carbon neutrality by reducing all emissions by 90%.
Leadership Insights
Soo Il Lee, Vice Chairman and CEO of Hanon Systems, expressed his enthusiasm for the company's sustainability prospects. He affirmed the commitment to innovation and value creation for customers and stakeholders, echoing the company's dedication to fostering a sustainable future through ESG initiatives and global collaboration.
Establishment of ESG Committee
Since 2022, the company has taken significant steps to integrate sustainable practices by forming the ESG Committee. This committee plays a crucial role in managing and overseeing various environmental, social, and governance matters, ensuring that Hanon Systems remains at the forefront of sustainability.
About Hanon Systems
Founded in 1986, Hanon Systems has established itself as a leader in thermal management solutions. As of January 2025, it became a subsidiary of Hankook & Company Group. The company specializes in diverse areas including heating, ventilation, and air conditioning (HVAC), powertrain cooling, and electronics. With over 50 manufacturing sites and three regional innovation centers, Hanon Systems employs more than 20,000 individuals across 21 countries.
Explore More About Hanon Systems
Visit Hanon Systems' website to learn about their innovative solutions and sustainability efforts. Connect with Hanon Systems on their official social media profiles for updates and news on their latest initiatives.
Frequently Asked Questions
What are the main goals outlined in Hanon Systems' 2024 sustainability report?
The report highlights the company's commitment to reducing GHG emissions significantly by 2030 and aims for net-zero emissions by 2050.
How does Hanon Systems plan to achieve carbon neutrality?
Hanon Systems aims to achieve carbon neutrality by reducing Scope 1, 2, and 3 emissions by 90% by 2040.
What recognition did Hanon Systems receive for its sustainability initiatives?
The company was included in the S&P Global Sustainability Yearbook for 2025, reflecting its commitment to sustainable practices.
What is the role of the ESG Committee at Hanon Systems?
The ESG Committee is responsible for overseeing the company's environmental, social, and governance strategies and setting long-term sustainability targets.
When was Hanon Systems founded and where does it operate?
Hanon Systems was founded in 1986 and currently operates 50 manufacturing sites and three regional innovation centers in 21 countries.
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