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.

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Michelin-backed Biotech Open Platform has commenced operations at its new facility in France, with its first advanced fermentation projects now underway. The EUR-20-million site is located in the Sustainable Materials Centre within the Michelin Innovation Park – Cataroux in Clermont-Ferrand.

The platform supports start-ups, industrial companies and R&D organisations in developing, optimising, scaling up and validating fermentation-based processes, aiming to ensure more innovations progress from laboratory scale to conditions representative of industrial production. It offers integrated fermentation, purification and bioprocess development capabilities, including a complete fermentation line with a capacity of up to 15m³ and semi-industrial purification systems that remain rare in Europe. These capabilities meet the most stringent standards, particularly those applicable to food production, and enable production of sufficient volumes for application testing and validation stages preceding potential commercial production.

As scrutiny of fossil-based ingredients and resources grows, industrial biotechnology and advanced fermentation are opening opportunities to produce molecules, ingredients and materials from renewable resources. Advanced fermentation, including precision fermentation, uses microorganisms such as yeasts, bacteria, microalgae and fungi as ‘microfactories’ capable of producing proteins, enzymes, food ingredients, cosmetic actives and bio-based materials for sectors including food and beverages, cosmetics, agriculture, chemicals and biomaterials.

Announced in 2024, the platform was born from a joint initiative by Danone, Michelin, DMC Biotechnologies, Crédit Agricole Centre France, Clermont Auvergne Innovation and Greentech. Dedicated teams and its own infrastructure guarantee strict project confidentiality and intellectual property protection, while Clermont Auvergne Métropole and the European Union, through the European Regional Development Fund, have supported creation of this strategic biotechnology infrastructure.

Florent Menegaux, Chairman, Michelin Group, said, “With the inauguration of Biotech Open Platform, we are turning a strong conviction into an industrial reality: biotechnology will play a major role in the sustainable transformation of many sectors. By providing companies with an open infrastructure and leading expertise, we want to accelerate the transition from research to industry. For Michelin, this is an opportunity to explore new ways of replacing certain molecules currently derived from petrochemicals with more sustainable, bio-based alternatives. More broadly, this platform aims to become a catalyst for innovation in support of European competitiveness.”

Khadidja Romari, Chief Executive Officer, Biotech Open Platform, said, “Biotech Open Platform was created to address a very concrete challenge in biotechnology: how to move from a promising process at laboratory scale to a robust process that can work at industrial scale. The infrastructure is important, but equipment alone is not enough. Scale-up requires experience, technical know-how and the ability to solve the issues that appear as the process moves from one scale to another. Confidentiality and protection of intellectual property are also essential for the companies we work with. Our role is to help them move faster and more securely towards industrialisation.”

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Maxam Tire has broadened its range of solid skid steer tyres by launching the MS705 NM, a non-marking iteration of its current MS705 model. The new tyre targets construction machinery operated indoors or on surfaces where leaving marks is undesirable.

By pairing the resilience of a solid tyre with a non-marking tread compound, the MS705 NM suits jobs that demand protection for finished flooring and other delicate surfaces. Its solid design removes the risk of punctures and sidewall failures while also doing away with regular air pressure checks, which helps lower maintenance demands.

The tyre incorporates a three-stage, all-rubber build and an aperture sidewall that together produce a gentler ride. Steel ring reinforcement internally works to prevent wheel slip, while a heat-resistant cushion centre compound adds durability for tough applications. With this non-marking option, Maxam now gives customers greater flexibility in matching skid steer tyres to specific jobsite needs.

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Evonik, a global speciality chemicals company, has outlined a three-year strategy to sharpen its focus and accelerate growth, assigning distinct roles across its business portfolio and setting specific tasks for its major German sites. Targeted growth projects are also intended to improve the group's geostrategic balance. To fund these investments, the company is relying on its Evonik Tailor Made restructuring programme to further reduce its cost base. The plan involves cutting 3,200 jobs worldwide, with roughly 2,150 of those losses falling in Germany.

At the annual strategy meeting, the executive and supervisory boards reviewed plans through 2030. Interim CEO Claus Rettig said the industry faces a structural and economic crisis, and Evonik will use this polycrisis to reshape old structures and improve its positioning. Many parts of the business are still growing, so efforts will concentrate on strengths, future topics and lucrative markets, with better cost positions creating room to manoeuvre.

Transformation will proceed at every level. Healthcare and biotechnology projects in Canada and Slovakia, worth several hundred million euros, will strengthen the portfolio, while business units are aligned by role as growth drivers or cash generators. A new business line, Designed Polymer Solutions, bundles growth areas in aerospace, automotive and gas separation, including biogas and hydrogen. Asia and America offer strong opportunities, and further investments there are under review. Each of the six major German sites will receive a clear profile, with implementation starting shortly.

Evonik is also exiting activities with no internal prospects. Rettig said long-term leadership requires leading in what the company does, and volatility demands flexible responses. Closures of smaller sites fit this approach, and divestments of C4 chemicals and infrastructure are progressing as planned. Tailor Made's second phase begins in 2027 and runs to 2029. Measures will be finalised by late 2026, including unfilled vacancies, early retirements and voluntary severance departures. Chief Human Resources Officer Thomas Wessel said Evonik has long lived social responsibility and maintained intensive dialogue with employee representatives, and this transformation will be completed together.

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Continental recently showcased its new TerrainContact A/T2 tyre during a five-day driving event in Iceland, held from 14 to 18 September 2026. Journalists and invited customers tested the tyre across winding roads, rugged highlands, glaciers and volcanic terrain.

Starting at Þingvellir, the group travelled through Iceland's Western Highlands and the Kaldidalur valley, where gravel routes highlighted the tyre's blend of on-road comfort and off-road traction. The TerrainContact A/T2 targets pickup and SUV owners who mainly drive on pavement but require extra grip when conditions change.

Compared with its predecessor, the tyre offers better wet braking and snow traction while preserving a quiet ride and off-road ability. A new tread compound boosts wet performance, greater tread depth aids snow grip, and optimised zig-zag grooves and traction teeth add control on loose or snowy surfaces. It carries the Three-Peak Mountain Snowflake symbol and is engineered with electric vehicles in mind.

Okan Sen, National Marketing Manager, Continental Tire Canada, said, “The TerrainContact A/T2, as one of the best-balanced performance all-terrain tyres in the market, was developed for drivers who want the freedom to explore without compromising their everyday driving experience. Iceland was the perfect setting to bring that versatility to life, giving attendees the opportunity to experience the tire across the kind of changing terrain it was designed to handle.”

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