Hankook Publishes 2022-23 ESG Report

Hankook, the premium tyre manufacturer, has released its 2022/23 Environmental Social Governance (ESG) Report, detailing its sustainability initiatives and strategies for the current year. Notably, the Science Based Targets Initiative (SBTi) has validated Hankook's greenhouse gas emission reduction targets, committing the company to achieve net zero emissions by 2050 according to the SBTi Net Zero standard.

This marks Hankook's 14th ESG Report, following its ESG vision, "Innovation for a Sustainable Future" introduced in 2010. The report encompasses the company's sustainability activities and its medium- and long-term strategies across environmental, social, and governance areas. It places equal emphasis on three key priority areas: Eco Value Chain, Sustainable Product, and Responsible Engagement.

Hankook has been progressively strengthening its commitment to sustainable management, enhancing its ESG management system. This journey began in 2009 with the establishment of a corporate social responsibility (CSR) organisation, followed by the formation of the ESG Strategy Committee and Steering Committee in 2010. In 2018, Hankook initiated a strategic effort to implement sustainable natural rubber policies and promote an eco-friendly circular economy system. By 2021, the company established an ESG Committee within the Board of Directors, and in 2022, it unveiled a Corporate Governance Charter, cementing its commitment to transparent and ethical ESG practices.

Hankook has proactively reduced its greenhouse gas emissions, positioning itself as a leader in constructing an eco-value chain. The company has developed a comprehensive climate change response strategy and incorporated a Climate Change Committee into its management activities. It has also undertaken various energy-saving initiatives, including adopting high-efficiency equipment, optimising energy efficiency, and using renewable energy. These efforts have resulted in a 2.74 percent reduction in greenhouse gas intensity compared to the previous year.

With a firm commitment to addressing climate change, Hankook joined the Science Based Targets Initiative in March 2022 and submitted its greenhouse gas emission reduction targets. These targets align with the latest climate research findings and the goals of the Paris Agreement. By 2030, Hankook aims to achieve a 46.2 percent reduction in total direct and indirect greenhouse gas emissions (Scopes 1 and 2) generated during the production stage, compared to 2019 figures, in compliance with the SBTi validation. Additionally, the company has set a 2030 target to reduce total greenhouse gas emissions generated throughout the value chain (Scope 3) by 27.5% compared to 2019 figures. This recognition by the SBTi signifies Hankook's commitment to achieving net zero emissions by 2050 based on the SBTi Net Zero standard, a responsibility shared by approximately 5,700 companies worldwide.

Hankook is also dedicated to developing eco-friendly tyres using highly functional synthetic rubber, furthering its ESG goal of increasing the use of sustainable raw materials. Recognised for its efforts to achieve carbon neutrality, Hankook has received top ratings from multiple global ESG evaluation agencies.

Moreover, the company is actively engaged in intelligent tyre technology, incorporating sensors in the tread to detect wear and developing airless tyres like the i-Flex. To contribute to a more sustainable future, Hankook is actively involved in establishing a sustainable supply chain, implementing human rights management, promoting employee well-being, and participating in social contribution activities.

Hankook has been included in the Dow Jones Sustainability Indices (DJSI) World, a prestigious sustainability index, for seven consecutive years.

Comments (0)

ADD COMMENT

Link Copied!

CEAT Limited has incorporated a step-down subsidiary in Germany, marking an extension of its overseas corporate structure.

The BSE-listed tyre maker said it had received a certificate of registration on 20^th April  for the incorporation of CEAT GmbH, a wholly owned step-down subsidiary set up with a capital of €25,000.

The subsidiary is held entirely through a wholly owned arm of CEAT Limited, giving the parent company indirect 100 percent ownership.

The company stated that CEAT GmbH would operate in the automotive tyres and related products segment, including tubes, tracks, flaps and ancillary activities.

As the entity has been newly incorporated, no turnover figures are available.

CEAT said the subsidiary qualifies as a related party, although promoters and group companies have no direct interest in it beyond its status as a step-down subsidiary.

Comments (0)

ADD COMMENT

Link Copied!

NEXEN TIRE has unveiled a major marketing push across United States designed to lift brand visibility among everyday drivers and sports fans alike. The initiative merges high-profile sports arena placements with hands-on retail strategies, aiming to reach consumers through stadium screens, in-store displays and moving advertisements. Company officials see this broad approach as a key step in deepening connections with the American market, which remains the world’s largest for tyre sales.

A central piece of the effort involves digital LED advertising inside nine Major League Baseball stadiums spread across four different US regions, ensuring exposure to both live crowds and television audiences. The company has also purchased commercial time on more than 10 sports networks to stretch its national reach. Beyond baseball, NEXEN TIRE will extend its existing sponsorship of the National Hockey League’s Anaheim Ducks, adding ribbon boards and exterior billboards at the team’s home rink and training facility.

On the retail side, the manufacturer is placing banner and digital advertisements at over 3,000 locations throughout North America, including major big-box chains and specialised tyre stores. A separate truckside advertising campaign will put branded wraps on delivery vehicles operated by key dealer partners, turning highways and local roads into moving billboards. The North American region already generates 22 percent of NEXEN TIRE’s total revenue, a figure representing roughly 40 percent growth since 2021, with larger diameter tyres of 18 inches and above now accounting for half of all regional sales due to rising demand for trucks, SUVs and premium vehicles.

The company has further strengthened its position by broadening its retail distribution network, launching new tyre models, attending industry gatherings like the SEMA Show and hosting test drive events for dealers. With this latest brand investment, NEXEN TIRE expects to accelerate its growth trajectory and lock in a more permanent presence across the North American market.

Brian (Yoonseok) Han, CEO, Nexen Tire America, said, "The core of this strategy is making NEXEN TIRE a natural part of American consumers' everyday lives, from stadiums to stores to the roads they drive on each day. By combining sports marketing with retail activation in a comprehensive campaign, we expect to accelerate growth in the North American market."

Comments (0)

ADD COMMENT

Link Copied!

Dunlop Tire Corporation (DUNLOP) has entered a strategic partnership with the International Auto Film Festa (IAFF), now in its fourth year as a global hub for automotive cinema. All future references to the event from 2026 onward will carry the title ‘International Auto Film Festa - Powered by DUNLOP’, marking a significant branding shift.

The Tokyo-based festival has quickly become a unique cultural celebration blending automobiles, filmmaking and creativity. Filmmakers worldwide are invited to submit original short films of up to 15 minutes, covering car culture, cinematography, animation, artificial intelligence and motorsport. As the official title partner, Dunlop will help expand the festival’s international footprint, rooted in shared values of innovation, performance and storytelling.

All 12 judges have already cast their votes for this year’s winners. The award ceremony and party for the International Auto Film Festa - Powered by DUNLOP will take place on 25 April in Tokyo’s Roppongi district.

Yoshiyuki Shimizu, Founder, IAFF, said, “We are truly honoured to welcome Dunlop, a global brand, as our title partner. IAFF is not merely a short movie competition but a new cultural platform where automobiles and cinema merge. With Dunlop's strong support, we are confident that, together with creators and their works from around the world, we can vividly portray the future of automotive culture from Japan, a major automotive nation.”

Akito Makino President and CEO, Dunlop Tire Corporation, said, “Dunlop supports the International Auto Film Festa, which aims to showcase the appeal and potential of automotive culture through film, and has decided to sponsor this film festival. As a company that supports the evolution of mobility and the emotions of people, we will continue to contribute to the development of diverse values and culture surrounding automobiles.”

Comments (0)

ADD COMMENT

Link Copied!

Pirelli has announced a technical update for the Moto2 class ahead of the World Championship’s European season opener this weekend in Jerez de la Frontera, Spain. The Italian tyre manufacturer will supply riders with a new rear development tyre designated F0192. This specification shares the same structural design as the existing supersoft SCX but introduces an alternative compound aimed at enhancing wear resistance and delivering more consistent performance over race distances.

Following its initial rollout at the United States Grand Prix, the standard supersoft SCX remains available for this round, enabling Moto2 competitors to conduct a direct back‑to‑back comparison with the new compound variant. Both rear supersoft options may be paired with the standard soft SC1 and medium SC2 front tyres. With the addition of the development tyre, each intermediate class rider will have access to up to ten rear tyres across the weekend.

For the Moto3 category, the championship’s entry class will rely on proven, reliable solutions. Riders will use the soft SC1 and medium SC2 compounds for both front and rear positions. These specifications have a successful track record in Jerez, as demonstrated last year when José Antonio Rueda claimed victory with a medium SC2 front and a soft SC1 rear.

Giorgio Barbier, Pirelli Motorcycle Racing Director, said, “On the occasion of the Spanish GP, scheduled for this weekend at the Circuito de Jerez - Ángel Nieto, we have decided to provide Moto2™ riders with a new rear development specification, the F0192. Compared to the standard supersoft SCX, it retains the same structure but features a new compound. This solution should improve wear while also delivering more consistent performance over race distance.

“The Jerez circuit is an excellent testing ground for evaluating new soft solutions, as it does not have highly abrasive asphalt and, at this time of year, temperatures are usually warm enough to allow the use of particularly soft options. In addition to this new solution, riders will of course also have access to the standard SCX, enabling a direct comparison between the two tyres under the same track and weather conditions, providing us with the most accurate feedback possible. The supersoft was already used as a race tyre last year and proved well suited to the characteristics of this circuit, so it is simply a matter of understanding which of the two alternatives will be preferred by the riders.”

Comments (0)

ADD COMMENT

Link Copied!