HMM joins UNGC to strengthen ESG management

HMM Co., a South Korean container shipping company formerly known as Hyundai Merchant Marine, said on Monday that it has joined the United Nations Global Compact (UNGC) to strengthen its ESG management and practice social responsibilities.

UNGC is the world's largest corporate sustainability initiative created by the United Nations and is an international convention that urges companies to practice social responsibility. About 20,000 member companies from 165 countries across the world are participating.

Member companies must comply with the 10 principles in the four areas of human rights, labor, the environment, and anti-corruption, which are the core values of UNGC, and submit a communication-on-progress (COP) report once a year for achieving the Sustainable Development Goals.

By joining the UNGC, HMM plans to promote "responsible human rights management," one of the core ESG initiatives, to improve company-wide ESG management capabilities.

"It is encouraging for HMM to join the UNGC, as the company announced the strengthening of eco-friendly logistics services, in a situation where the inclusive business practice that considers the conservation of marine ecosystems and biodiversity is becoming mainstream," said Yoo Yeon-chul, Secretary General of the UNGC Korea Association. 

"As the importance of ESG and human rights management increases, we are strengthening the ESG management system that meets global standards. Through all this, we will become a global shipping company that fulfills corporate social responsibility and strives for sustainable management," said an official of HMM.

Write to Ik-Hwan Kim at lovepen@hankyung.com