South Korea’s Hankook Tire commits to Science-Based Targets initiative

It aims to reduce Scope 1 and 2 emissions during the production stage by 46.2% by 2030

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South Korean company Hankook Tire has committed to the Science-Based Targets initiative (SBTi) for reducing its greenhouse gas emissions from its own operations.

It joined the SBTi in March this year as the first tire manufacturing firm in Korea and has now submitted its targets to the initiative, with the validation expected in early 2023.

Hankook Tire aims to reduce Scope 1 and 2 emissions during the production stage by 46.2%, compared to its 2019 baseline, by 2030.

It has also pledged to reduce Scope 2 emissions in its value chain, which includes emissions reduction generated from raw materials acquisition, distribution, investment, production and other major business activities, by 27.5% during the same period.

The company previously created a new 2050 carbon-neutral roadmap which includes Scope 3 emissions.

In 2021, it reduced greenhouse gas emissions by 3% compared to 2020 levels.

Hankook Tire has also joined the Business Ambition for 1.5℃ campaign – an urgent call to action for companies to set targets to limit global warming to 1.5°C and strive for a net zero future to avoid the worst impacts of climate change.