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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Dunlop Tyres South Africa has announced that from 1 February 2026, its 18-month Dunlop Sure Tyre Insurance has become a standard feature included with every tyre purchase across its entire range. This decision follows an overwhelmingly positive response from South African motorists to a previous limited-time promotion that extended the cover period.

The original promotion, which added an extra six months of protection to the standard 12-month policy, was introduced as a temporary measure. However, it quickly became evident that South African drivers highly valued the extended security and long-term peace of mind it provided against unforeseen tyre damage.

Lubin Ozoux, the CEO of Dunlop Tyres South Africa, explained that the feedback from their dealer network, who interact with customers daily, highlighted a clear demand for a robust safety net. Motorists are seeking reassurance that they are protected should a tyre suffer irreparable damage from common road hazards. Responding to this consumer need, the company has taken the significant step of embedding the 18-month cover as a permanent, no-cost feature. This move underscores the brand's confidence in its product quality and its commitment to delivering genuine added value.

By standardising this extended protection, Dunlop aims to reinforce its market leadership, offering a comprehensive package that goes beyond premium performance and safety. The proposition now provides continuous support and value for drivers long after their initial purchase. To activate the cover, customers simply need to buy their Dunlop tyres from a Dunlop-branded store and register them on the official Dunlop website within seven days. This free insurance provides crucial financial protection against the cost of replacing tyres damaged beyond repair by hazards on the road.

Ozoux said, “By making 18 months of Dunlop Sure standard, we’re reinforcing our confidence in our products and raising expectations of what tyre ownership should deliver – safety, value and reassurance.”

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Maxion Wheels, a division of Iochpe-Maxion and a global leader in wheel manufacturing, has taken a significant step forward in its environmental strategy by activating a new on-site solar energy system at its facility in San Luis Potosí, Mexico. This installation, developed in partnership with Iberdrola México, is part of a broader commitment to reducing the company's carbon footprint through the adoption of renewable energy sources. It marks the ninth solar project completed by Maxion Wheels worldwide.

The newly commissioned photovoltaic system boasts a capacity of 499 kilowatts, enabled by the installation of 1,073 solar modules. It is projected to generate around 919 megawatt-hours of clean electricity on an annual basis. This initiative is expected to eliminate approximately 617 tonnes of CO2 emissions each year, an environmental benefit comparable to the carbon sequestered by more than 10,200 trees over a decade. The clean energy produced will directly support the decarbonisation of the plant’s manufacturing processes.

This project in San Luis Potosí is one element of a three-part solar collaboration between Iochpe-Maxion and Iberdrola within Mexico. It follows the activation of a similar system at the company’s Chihuahua plant in 2024 and precedes another photovoltaic project at the Castaños, Coahuila facility, which is anticipated to come online soon. These investments are integral to Maxion’s global sustainability framework, known as Roadmap Zero, which sets the ambitious target of achieving net-zero emissions across all company operations by 2040.

The Maxion Wheels plant, which began operations in 1996, is situated in the capital city of San Luis Potosí state. The expansive facility covers roughly 70,000 square metres and specialises in producing steel wheels for both light and commercial vehicles, supplying a diverse portfolio of leading international automotive manufacturers. The recent inauguration of the solar project was marked by the presence of company leaders Alexandre Becker and Alfonso Campos, alongside local dignitaries including Sonia Mendoza Díaz, the Secretary of Ecology and Environmental Management for the state, and César Lara from the CROM labour confederation, as well as the plant’s manager, Hugo Soriano.

Alfonso Campos, Commercial Director, Iberdrola México, said, “Through this partnership, we are supporting Maxion Wheels in its transition towards cleaner and more environmentally responsible processes. On-site photovoltaic energy enables lower emissions, greater cost stability and direct positive impact across the entire value chain. It is a tangible benefit for both industry and the planet, and it motivates us to continue growing together.”

Alexandre Becker, Business Unit President Americas, Maxion Wheels, said, “The inauguration of the photovoltaic solar panel system at our San Luis Potosí plant marks a decisive step in our ongoing commitment to sustainability, innovation and environmental responsibility. This project is the result of a collective effort across multiple teams, united by a shared purpose and a common vision.”

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Yokohama Rubber reported record sales and profit for fiscal 2025, marking a fifth consecutive year of growth, as higher tyre volumes and a stronger product mix offset one-off costs linked to an acquisition.

Sales revenue rose 12.8 percent year on year to USD 8.2 billion. Business profit increased 24.0 percent to USD 1.11 billion, while operating profit advanced 28.3 percent to USD 1.02 billion. Profit attributable to owners of parent climbed 40.7 percent to USD 0.70 billion. The business profit margin reached a record 13.5 percent.

The company said the increase in consolidated business profit reflected strong performance in existing operations, which absorbed one-time costs related to the acquisition and consolidation of Goodyear’s OTR business. In tyres, profit rose on higher unit sales of consumer tyres and continued growth in high-value-added ADVAN, GEOLANDAR and winter tyres, alongside larger-diameter products. In the MB segment, cost reductions and structural reforms supported profitability.

For fiscal 2026, management targets sales revenue of USD 8.7 billion, business profit of USD 1.25 billion, operating profit of USD 1.15 billion and profit attributable to owners of parent of USD 0.60 billion, aiming for a sixth consecutive year of sales and profit growth.

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Hankook Tire played its role as the exclusive tyre supplier to the ABB FIA Formula E World Championship to perfection at the series’ recent visit to Saudi Arabia for a double-header event under the floodlights at the Jeddah Corniche Circuit. The company’s Hankook iON Race tyre was put to the test across two nights of intense racing, where driver precision and tyre durability were critical factors. In the first of the two rounds, Pascal Wehrlein of the Porsche Formula E Team claimed victory by combining consistent speed with clever positioning on the fast and challenging street circuit. The following evening, António Félix Da Costa of Jaguar TCS Racing took the win in a race that demanded careful attention to both energy consumption and tyre preservation until the very end.

The Jeddah circuit, measuring just over three kilometres and featuring 19 turns, is designed to complement Formula E’s unique braking and energy recovery systems. It offers a mix of long straights and demanding technical sections that place significant stress on tyres. Throughout both races, the Hankook iON Race tyre demonstrated its ability to maintain strong grip under heavy loads while managing heat effectively and supporting low rolling resistance. These characteristics are vital in a championship where tyre behaviour directly influences energy strategy and overall race outcomes.

In the days following the races, Formula E hosted its EVO Sessions 2 programme, inviting a group of international digital creators to experience the GEN3 Evo race car on the same circuit. The initiative, which first launched after last year’s Miami E-Prix, has generated substantial online engagement and provided additional visibility for Hankook’s tyre technology. Participants including Khaby Lame and Behzinga took part in driving sessions, while others assumed team principal roles for the event. The Hankook iON Race once again proved its capability by delivering strong traction and stability during these high-speed demonstrations.

Looking ahead, the championship will resume in Madrid on 21 March 2026 with a race at the Circuito de Madrid Jarama. This more compact and technically demanding permanent track will present a fresh challenge, with Hankook’s iON Race tyre continuing to serve as the foundation for competitive and sustainable racing.

Manfred Sandbichler, Senior Director, Hankook Motorsport, said, “Jeddah under the lights produced two demanding races with their own strategic patterns. Across both rounds, the iON Race demonstrated stable and consistent performance in conditions where track behaviour and tyre temperatures evolved through each session. Such tyre predictability is essential in helping teams execute their strategies on such a fast and technically complex circuit, and the data gathered here will feed directly into our ongoing iON development programme.”

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