Hanon Systems, a Korean global automotive thermal management supplier and subsidiary of Hankook & Company Group, set a goal to reach net zero for all GHG emissions across its value chain by 2050.

As part of its long-term climate change strategy, Hanon Systems seeks to reduce absolute Scope 1 and Scope 2 emissions by 50% and Scope 3 emissions from purchased goods and services by 55% per ton of purchased raw material by 2030, compared to the 2019 baseline, according to its eighth annual sustainability report. 

By 2040, the company aims to achieve carbon neutrality by reducing absolute Scope 1, Scope 2, and Scope 3 emissions by 90%.

The company’s near-term 2030 GHG reduction goals and 2050 net-zero target were approved by the Science Based Targets initiative (SBTi).

“We are dedicated to building a sustainable future, driven by continuous technological innovation and a strong commitment to creating value for our customers and shareholders,” said Soo Il Lee, Vice Chairman and CEO of Hanon Systems, in a statement. “We remain committed to advancing ESG initiatives, developing talent, and strengthening global collaboration to reinforce our position as a leading company in future mobility.”

Since 2022, the company’s ESG Committee has been responsible for establishing, managing and overseeing environmental, social and governance matters. The committee approves ESG strategies and implementation plans, and defines mid- to long-term targets.