Kumho Tire receives silver medal from EcoVadis

Kumho Tire Co. announced on Tuesday that it received a silver medal from EcoVadis, a global ESG (environmental, social, and governance) evaluation agency.

Silver medals are awarded only to those in the top 25% of agency's evaluation.

Founded in France in 2007, EcoVadis has assessed more than 100,000 companies across 175 countries.

It evaluates companies’ policies, actions, and reporting performances across the four dimensions of the environment, labor and human rights, ethics, and sustainable procurement.

South Korea’s No. 2 tire maker said it received high scores in making the 2045 carbon neutrality pledge, joining SBTi (Science-Based Target Initiative), calculating Scope 3 emissions, and building a greenhouse gas inventory system.

It also obtained good evaluation in such categories as human rights education, work-family balance, flexible work hours, ESG management, and purchasing manager training, the company said.

Kumho Tire said it received a comprehensive B+ rating in the evaluation by the Korea Institute of Corporate Governance and Sustainability (KCGS), South Korea's non-profit ESG ratings service provider.

In the mid- to long-term, Kumho Tire plans to implement the carbon neutrality pledge in the supply chain, expanding the use of renewable energy in the workplace, developing eco-friendly tires, using more sustainable raw material and recycling waste tires.

Write to Hyung-Kyu Kim at khk@hankyung.com