Press Releases
Press Releases
CDP Korea Committee Selects 'Climate Leadership' Companies
CDP Korea Committee Selects
'Climate Leadership' Companies
- CDP Korea Committee Announces 'Climate
Leadership' Companies
- Hyundai Motor, Hyundai Wia, LG Uplus,
LG Innotek, Hanwha Aerospace, and Hanwha Named to '2024 Carbon Management
Honors Club'
- 25 Korean Companies Achieve Climate
Change A-List; 11 Recognized in Water Security
- Key Challenges Explored at Conference:
"Climate Action, the Key to Sustainability and Economic Growth"
The CDP Korea Committee today announced the
results of its annual corporate climate performance evaluation. Hyundai Motor,
Hyundai Wia, LG Uplus, LG Innotek, Hanwha Aerospace, and Hanwha have been named
to the 2024 Carbon Management Honors Club based on a comprehensive analysis of
their CDP climate disclosures and management performance. In addition, Shinhan
Financial Group, Hyundai Engineering & Construction, and Samsung
Electro-Mechanics were inducted into the Hall of Fame in recognition of
sustained excellence in climate action over multiple years.
The CDP Korea Committee (Chairman: Ji-in Jang)
hosted the "2024 CDP Report Launch and Climate Change & Water
Management Excellence Awards Ceremony" at the Fairmont Hotel in Yeouido,
Seoul, where it unveiled the climate leadership achievements of Korean
corporates.
CDP is a global initiative, led by
international financial investors, that requests environmental management
disclosures—covering climate change, water security, forests, and
biodiversity—from major listed and unlisted companies worldwide. Based on the global
assessment results, the CDP Korea Awards recognizes outstanding companies
domestically, and this year marks the 17th consecutive ceremony. The CDP Korea
Committee administers multiple award categories, including the Carbon
Management Honors Club, Sector Honors, and Special Awards.
This year, 42 companies were recognized for
excellence in climate change response, and 14 companies in water management.
ㅣCDP Assessment Continues to Evolve in
Alignment with International Disclosure Standards
A key change in this year's CDP evaluation
was the introduction of Essential Criteria. Under the new framework, companies
can no longer achieve the highest rating through scores alone—they must fulfill
mandatory requirements including substantive climate risk management and the
implementation of emissions reduction targets. This reflects CDP's ongoing
effort to align its assessment framework with global disclosure standards such
as ISSB and TNFD.
More than 24,000 companies worldwide
responded to CDP this year. In South Korea, the number of investor-requested
respondents grew significantly: companies responding in the climate change
category increased 74% year-on-year (211 to 368), while responses in the water
security category surged 192% (78 to 228). These figures underscore rising
market and investor expectations around sustainability, as well as growing
corporate awareness of the importance of environmental disclosure.
In the climate change category, 25 Korean
companies received an A rating, including KB Financial Group, Shinhan Financial
Group, Hana Financial Group, Hyundai Motor, Hyundai Wia, and LG Uplus. In the
water security category, 11 companies earned an A rating, including Hyundai
Motor, Samsung Electronics, Amorepacific, SK Chemicals, and Pulmuone.
Sherry Madera, CEO of CDP, stated:
"Companies that disclose through CDP demonstrate up to a 7–10% reduction
in direct emissions within two years. The role CDP plays in driving transparent
disclosure—especially amid complex and compounding climate crises—has never
been more important."
Ji-in Jang, Chairman of the CDP Korea
Committee, emphasized: "Given Korea's industrial structure—which is
heavily weighted toward manufacturing and export dependency—it is imperative
that sustainability be internalized rapidly. Considering that the Trump
administration's anti-ESG policies could function as trade barriers from an
'America First' standpoint, Korean companies and financial institutions must
disclose climate information with the highest degree of transparency."
ㅣConference: Key Challenges in
Strengthening Climate Leadership and Advancing the Sustainability Transition
Following the awards ceremony, a conference
titled "Climate Action, the Key to Sustainability and Economic
Growth" featured presentations and panel discussions by domestic and
international experts on climate change response and sustainability transition.
Keynote speaker John Byrne, Chairman of the
American Council on Renewable Energy (ACORE), criticized the anti-science
climate policies of the Trump 2.0 administration, noting: "Climate change
is confirmed scientific fact. According to NOAA, disaster costs in the United
States have doubled every decade since 1995 due to the rapid escalation of
extreme weather events." He further highlighted that despite federal
rollbacks, more than 38 U.S. states continue to drive the energy transition
through voluntary policies such as net metering and Renewable Portfolio
Standards (RPS), underscoring the critical importance of state and local policy
leadership.
Jose Ordonez, CDP Head of Asia-Pacific,
delivered a keynote on data-driven sustainability transition, stating:
"Data by itself is nothing. What matters is how you use it—it has to
translate into real action." He identified four key actions common among
leading companies: developing climate transition plans aligned with the 1.5°C
target, setting internal carbon prices, linking executive compensation to
environmental performance, and driving emissions reductions across the value
chain. He also cited examples of companies collectively saving USD 33 billion
through supply chain emissions reductions, reinforcing that sustainability and
operational efficiency can go hand in hand. CDP data further showed that
investments in adaptation and resilience generate returns of USD 2 to 19 for
every dollar invested, demonstrating the direct link between sustainability
action and financial performance.
Additional presentations were delivered by Yun-jae
Jeon, Deputy General Manager of KB Financial Group, on the company's
sustainability strategy, and by Prof. Jeong Jun-hee of Daegu University, on the
measurement and disclosure of physical climate risks.
The conference concluded with a panel
discussion on "Challenges and Tasks for Sustainability Disclosure,"
moderated by Chun-seung Yang, Standing Vice Chairman of the CDP Korea
Committee. Panelists included Dr. Song Hong-seon of the Korea Capital Market
Institute, Bang Cheol-han of the Korea Meteorological Industry Technology
Agency, Lee Woong-hee of the Korea Accounting Standards Board, Jeon Yun-jae of
KB Financial Group, and Kim Tae-han, Senior Researcher at the CDP Korea Committee.
Key topics included corporate response strategies for mandatory ESG disclosure,
enhanced climate risk reporting, and the linkage between sustainability and
financial performance. Participants reached a consensus that ensuring data
transparency is essential not only for corporate risk management but also for
securing competitiveness in global markets.
The CDP Korea Committee also released its
2024 CDP Korea Report, titled "CDP: Evolving as a Platform for Climate
Leadership." The report is available on the official website of the Korea
Sustainability Investing Forum (KoSIF). (End)