Hanon Systems Releases 2024 Sustainability Report

• Key highlights include SBTi validation of carbon emission reduction targets and recognition in S&P Global's 2025 Sustainability Yearbook
• Eighth consecutive sustainability report, fourth report published in both Korean and English

SEOUL, South Korea, June 30, 2025 /PRNewswire/ -- Hanon Systems (KS: 018880), a leading global automotive thermal management supplier and subsidiary of Hankook & Company Group, is pleased to announce the release of its eighth annual sustainability report, published in both Korean and English for the fourth consecutive year.

The 2024 report highlights continued progress in environmental, social, and governance (ESG) performance, including the formal approval of the company's near-term 2030 greenhouse gas (GHG) reduction goals and 2050 net-zero target by the Science Based Targets initiative (SBTi), along with its second consecutive inclusion in the S&P Global Sustainability Yearbook.

As part of its long-term climate change strategy, Hanon Systems aims to reduce absolute Scope 1 and Scope 2 emissions by 50% and Scope 3 emissions from purchased good and services by 55% per ton of purchased raw material by 2030, compared to the 2019 baseline. By 2040, the company aims to achieve carbon neutrality by reducing absolute Scope 1, Scope 2, and Scope 3 emissions by 90%.  And by 2050, Hanon Systems commits to reach net-zero for all greenhouse gas emissions across the value chain.

"We are dedicated to building a sustainable future, driven by continuous technological innovation and a strong commitment to creating value for our customers and shareholders," said Soo Il Lee, Vice Chairman and CEO of Hanon Systems. "We remain committed to advancing ESG initiatives, developing talent, and strengthening global collaboration to reinforce our position as a leading company in future mobility."

Since 2022, the company's ESG Committee has been responsible for establishing, managing and overseeing environmental, social and governance matters. The committee approves ESG strategies and implementation plans, and defines mid- to long-term targets.

View the report on the company's website here.

https://www.hanonsystems.com/En/Investors/AnnualReport 

About Hanon Systems

Hanon Systems, founded in 1986, is a global leader in thermal management solutions. In January 2025, it became a subsidiary of Hankook & Company Group. Its offering includes a wide range of solutions in the areas of heating, ventilation and air conditioning (HVAC), powertrain cooling, compressor, fluid transport, and electronics and fluid pressure. The company currently operates 50 manufacturing sites and three regional innovation centers and employs more than 20,000 people across 21 countries. To learn more, visit hanonsystems.com.

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SOURCE Hanon Systems