Hyundai Elevator said on the 25th that it received an A rating in this year's assessment by global ESG (environmental, social, and governance) evaluator Morgan Stanley Capital International (MSCI), announced on the 23rd. It is an upgrade of one notch from the BBB rating it had received for the past three years.
Hyundai Elevator said improvements in the environmental institutional sector were the main driver of the upgrade. In 2022, Hyundai Elevator installed a total of 7,600 kW of solar power facilities at the Chungju Smart Campus to cut greenhouse gas emissions, and to practice carbon neutrality it has expanded the scope of emissions reporting to some affiliates and overseas subsidiaries to strengthen management. It is also conducting activities to identify and improve environmental impacts throughout the entire process from product development to disposal through product life cycle assessment (LCA).
In the social institutional sector, it conducts an annual human rights impact assessment and an employee satisfaction survey, and also holds events inviting employees' families. In the governance institutional sector, it carries out plans to enhance shareholder value and provides dividend predictability through amendments to the articles of incorporation.
Meanwhile, Hyundai Elevator ranked No. 1 among global elevator companies in S&P Global's Corporate Sustainability Assessment (CSA), scoring 59, up 7 points from the previous year. It also received an overall A+ rating from the Korea Institute of Corporate Governance and Sustainability (KCGS).