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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Hankook Tire, the exclusive rally-tyre supplier for the FIA World Rally Championship, is all set to provide tyres for all competitors in the championship's dramatic 2025 season finale, Rally Saudi Arabia. Taking place from 25 to 29 November in the Jeddah region, this decisive event marks the WRC's inaugural visit to the country. The rally’s route, centred around the Jeddah Corniche Circuit, comprises approximately 319 kilometres of competitive action across 17 special stages, presenting a completely new challenge for teams and drivers.

This new Middle Eastern challenge demands a tyre capable of mastering a vast spectrum of conditions. The stages combine long, fast desert sections with technically demanding rocky terrain, all subject to sharp temperature swings, blowing sand and unpredictable micro-climates. Hankook will equip the crews with its Dynapro R213, an extreme all-terrain rally tyre engineered specifically for such rough and unpaved surfaces. Available in Hard and Soft compounds, it features a robust casing and a specialised tread pattern to deliver stable grip, crisp steering response and reliable impact absorption at high speeds, all while managing heat buildup for consistent long-stage performance.

The rally also serves as the setting for the championship's climax. The Drivers' Championship will be settled in Jeddah, with Toyota GAZOO Racing's Sébastien Ogier having narrowed the gap to leader Elfyn Evans to just three points after his recent victory in Japan. This sets the stage for a final, high-stakes showdown where tyre strategy and durability will be as critical as outright speed, focusing the global motorsport world on the Saudi desert.

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Giti Tire has intensified its AdvanZtech EV Ready initiative with the introduction of the GitiWinterW2, a winter tyre engineered to perform on battery-electric vehicles, hybrids and traditional internal combustion engines. This new product, available for the 2025/26 winter season, is the first winter-specific offering within this specialised tyre line. The range is comprehensive, encompassing 17 different sizes to fit rims from 15 to 20 inches, making it suitable for a wide array of vehicles from the compact Fiat 500e to the Tesla Model 3 and popular SUVs like the Volkswagen Tiguan and Volvo XC60 PHEV. Each tyre is marked with a distinct sidewall logo to guide consumers towards the correct application for their vehicle type.

The development of the GitiWinterW2 focused on achieving a balance of critical performance attributes. Engineers prioritised managing the high torque output of electric vehicles for superior control while simultaneously minimising rolling resistance to help extend driving range. This technical development was accomplished without sacrificing the essential safety and handling characteristics required for winter driving in snow and wet conditions. The manufacturer emphasises that the final product delivers a quiet, comfortable and secure driving experience.

This winter tyre joins the existing summer patterns, the GitiSportS2 and GitiSynergyH2, which were originally launched in August 2024 under the same AdvanZtech EV Ready strategy. All three tyre lines are the result of research and development conducted through Giti's global AdvanZtech system, with significant work carried out at their European Research & Development Centre located in Hannover, Germany.

Fabio Pecci-Boriani, Deputy General Manager – Product Planning PCR and LTR, Giti Tire R&D Centre (Europe), said, “The Giti brand was among the first in the mid-market to introduce an EV ready concept, ensuring maximum flexibility and product clarity for dealers and peace of mind for drivers. As is proven, winter can have an impact on the performance of part-electric and electric vehicles with lower temperatures reducing battery range and immediate torque levels being tricky on slippery roads; the Giti AdvanZtech EV ready GitiWinterW2 goes a long way to addressing these issues.”

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The German Rubber Industry Association (wdk) is advocating for the creation of a dedicated ‘Industrial SMEs’ parliamentary circle. This proposal responds to the significant challenges faced by medium-sized industrial companies, which the association believes are frequently misjudged by political decision-makers. wdk President Michael Klein emphasised that a high-performance industrial middle tier exists in Germany, positioned between major corporations and small artisanal businesses. He argues that the critical role of these firms deserves greater recognition within parliamentary proceedings, and the proposed cross-party group would be an effective measure to achieve this.

The German rubber industry itself serves as a prime example of this vital sector. Its companies are often ‘hidden champions’, leading the global market in specialised niches and supplying indispensable products that underpin diverse areas of the economy. Despite this importance, medium-sized industrial enterprises consistently fall through the cracks of policy. Legislators in both Germany and Europe often demonstrate a lack of awareness regarding the specific capacities and limitations of these businesses, leading to disproportionate bureaucratic burdens.

A dedicated parliamentary circle would establish a direct channel for dialogue, allowing committed policymakers to engage with company representatives. This forum would provide valuable, ground-level insights and act as an essential political corrective. The wdk contends that such an initiative would not only provide much-needed support to the numerous medium-sized industries but would also strengthen the national economy as a whole.

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In response to significant economic pressures within the chemical industry, WACKER has initiated a comprehensive efficiency programme named PACE. The project, launched in October, is designed to secure substantial and permanent annual cost savings exceeding EUR 300 million. A primary focus will be on optimising fixed production costs and administrative structures.

To achieve this financial target, the company anticipates a reduction of more than 1,500 positions globally, with the majority of job cuts affecting its German sites. This workforce adjustment is expected to account for approximately half of the total savings. The company, which had previously forecast a net loss for 2025, intends to fully implement all PACE measures by the end of 2027. This strategic move aims to strengthen WACKER's operational resilience amid a challenging business climate.

Christian Hartel, President and CEO, WACKER, said, "We are currently working on measures to achieve our cost-saving targets. The aim is to reduce our costs to a competitive level through savings. This will put WACKER back on the road to success." Emphasising the need for competitive framework conditions, he added, "Particularly in Germany, the excessively high energy prices and bureaucratic obstacles continue to act as a central brake on the successful development of the chemical industry."

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