HMM receives Gold rating in EcoVadis ESG evaluation

HMM Co., formerly known as Hyundai Merchant Marine, announced on Thursday that it has received the "Gold" rating for environmental, social and governance (ESG) evaluation from EcoVadis for two consecutive years.

EcoVadis is a global ESG evaluation agency based in France, known as a major reference organization for evaluating sustainability and supply chain areas of companies.

EcoVadis evaluates four categories, including the environment, labor and human rights, ethics and supplier management, for more than 100,000 companies in over 170 countries around the world and assigns Platinum (top 1%), Gold (top 5%), Silver (top 25%) and Bronze (top 50%) ratings.

HMM received a Gold rating in this evaluation, maintaining the same rating for two consecutive years. HMM was the first company in the domestic shipping industry to receive a Gold rating last year and this year, it received an even higher evaluation at the top 3% level compared to 4% last year.

HMM has set quantitative targets for reducing energy consumption and greenhouse gas emissions, and has established detailed policies for reducing air pollution and waste.

"This evaluation result will greatly enhance the trust of stakeholders, such as customers, shareholders, and local communities, in our ESG management performance," said Kim Kyung-bae, CEO of HMM.

Write to Seo-Woo Jang at suwu@hankyung.com