Hankook, Nokian, Pirelli earn Dow Jones sustainability ratings

NEW YORK — Hankook Tire & Technology Co. Ltd., Nokian Tyres P.L.C. and Pirelli & C. S.p.A. have been included in the Dow Jones Sustainability Index for 2022, indicating they are among the most sustainable listed companies worldwide.

The Dow Jones Sustainability Indices is considered the most respected global index for sustainability rating and investment, representing the top 10 percent of the world's 2,555 largest companies in the Standard & Poors Global BMI with leading performance in economic, environmental and social impact.

The companies earning a spot in the index have been evaluated comprehensively for their corporate management activities in aspects such as financial performance, social contribution activities, ethical management and environmental management.

The DJSI was jointly developed in 1999 by S&P Dow Jones Indices, the world's largest financial information company, and S&P Global Switzerland S.A., a global sustainability rating agency.

Hankook and Pirelli both earned global "Gold Class" honors, while Nokian earned "Bronze Class" status.

Hankook said 2022 is the seventh straight year as part of the DJSI and this year recorded its highest score since the inception of DJSI, achieving high ratings in areas such as corporate philanthropy, human rights, supply-chain management and research and development innovation.

Hankook said it has "consistently" communicated its sustainability initiatives to its employees and improved its company-wide ESG standards. In 2021, the company organized an "ESG Committee" within the board of directors to strengthen ESG management.

The Seoul-based tire maker, in an effort to ensure the economic, social and environmental sustainability of the natural rubber (NR) value-supply chain, established sustainable NR policies in 2018 and revised those polices in 2021 in line with the guidance of the Global Platform for Sustainable Natural Rubber (GPSNR).

Pirelli said it earned a score of 85 points (out of a possible 100) this year, substantially higher than the 77 achieved in 2021. It obtained "top marks" in various management areas including governance and due diligence in the field of human rights, management of natural resources and reduction of CO2 emissions.

Furthermore, the tire maker said it was recognized for innovation and cyber security, and "completeness and transparency in social and environmental reporting."

"[The] sector shows that sustainability is the Pirelli business model; a growth strategy and, above all, a challenge to continually improve," Marco Tronchetti Provera, executive vice chairman and CEO, said.

Nokian Tyres scored a 75 in the 2022 S&P Global's Corporate Sustainability Assessment, including full scores in the Product Quality and Recall Management, Environmental Reporting, and Social Reporting criteria, out of 23 criteria covering environmental, social and corporate governance areas. Nokian Tyres was also judged the automotive components sector's best in occupational health and safety.

"Sustainability is one of the five cornerstones of Nokian Tyres' strategy, …" Teppo Vuovila, vice presient, quality and sustainability, said.

"We have ambitious targets in decreasing greenhouse gas emissions as well as increasing the share of renewable or recycled raw materials in our tires, naturally without compromising on safety," he added, noting that Nokian has pledged to make its new factory to be built in Romania the tire industry's first zero CO2 emission plant.