Hyundai Engineering & Construction (Hyundai E&C) has released its “2024 Sustainable Management Report,” detailing its activities and achievements in sustainable development. This marks the 15th edition since the report’s first publication in 2010, emphasizing transparency in sustainable management performance. 

The report focuses on four key sustainable management systems—prosperity, environment, people, and governance principles—and eight major strategies across these sectors. This year’s edition incorporates the European Sustainability Reporting Standards (ESRS), global disclosure indicators, ESG evaluation metrics, major construction issues, and critical ESG concerns identified by stakeholders. The dual materiality evaluation methodology has also been advanced. 

Hyundai E&C analyzed opportunities and risks in areas such as climate change response, occupational safety, health, and quality control, disclosing the financial impacts under governance, strategy, risk management, and indicators and goals. 

A highlight of the report is the increase in sales of sustainable products based on EU taxonomy. In 2023, sustainable product sales reached 61% (9.6 trillion won), continuing an upward trend from 46% in 2021 and 52% in 2022. The report also includes capital expenditures and operating expenses related to sustainable products, providing a clear performance overview of green projects. 

Efforts in climate change response have led to a reduction in direct (Scope 1) and indirect (Scope 2) greenhouse gas emissions by 21,462tCO2e over the previous year. In safety management, Hyundai E&C has focused on creating safer working environments and preventing concrete quality issues with initiatives like the “Q-Con” system. 

For the first time, the report includes environmental, social, and governance (ESG) information for six major subsidiaries, offering a comprehensive view of Hyundai’s commitment to ESG practices across its group companies. 

Sources: 

https://www.mk.co.kr/en/realestate/11073392 

https://en.hdec.kr/en/newsroom/news_view.aspx?NewsSeq=676&NewsType=LATEST&NewsListType=news_clist