Thank you for your continued support for Hyosung Advanced Materials(HAMC) over the past year despite the difficult business environment. Although the globe gradually returned to normal from the pandemic in 2022, climate change issues that threaten the survival of the earth and mankind have accelerated, and securing corporate sustainability has become more important than ever due to conflicts between countries and global supply chain rises.
In response to these changes, HAMC has strengthened its sustainability governance to actually apply 'sustainability‘ to corporate management. In 2022, we established the SHE(Safety, Health, Environment) Committee and the Supply Chain Management Committee to enhance our capabilities and strengthen activities in the safety and health and supply chain management sectors, which are becoming increasingly important. In addition, in order to strengthen the supervisory function of the BoD on sustainability, we are continuously expanding the areas of sustainability management discussed during BoD meetings.
In addition, in the face of the global climate change crisis, we completed the establishment of Scope 1, 2, and 3 emission inventories for all global production sites in order to set SBT(Science-Based Target). In December 2022, we submitted our commitment letter to SBTi(Science-Based Target Initiative), and will submit our SBT by July 2023. We will expand our efforts to develop and commercialize low-carbon eco-friendly products as well as reduce emissions from our production facilities.
The ultimate goal of HAMC’s sustainability management is to create a better future for mankind through eco-friendly technology and sustainable product proposals. Accordingly, we pursue growth, profitability, and sustainability based on sustainability management to strengthen our competitiveness while fulfilling responsibilities to the environment and society. To this end, we continue to develop next-generation products, including diversification of product applications and eco-friendly products, based on customer needs creating business results by collaborating with stakeholders. In order to continuously communicate with stakeholders about the direction and activities of the company's sustainability, we published the first TCFD report in 2022, and established a new website for sustainability. Hyosung Advanced Materials will continue to earn stakeholder empathy and trust through faithful fulfillment of responsibilities based on integrity management.
We ask for your continued interest and encouragement in our journey to create a better future by responding all generations.
CEO of Hyosung Advanced
Materials Corporation
Yongsoo Cho
Materials Corporation
Yongsoo Cho