HMM (011200.KS) said Wednesday it has earned the "Platinum" medal, the top grade awarded only to companies in the top 1%, for the third consecutive year in both of the world's two leading environmental, social and governance (ESG) assessments — France's EcoVadis and the U.S.-based Sustainalytics.
EcoVadis evaluates more than 100,000 companies worldwide across four areas — environment, labor and human rights, ethics, and sustainable procurement — and awards Platinum (top 1%), Gold (5%), Silver (15%), and Bronze (35%) medals. It is considered the most trusted ESG assessment metric used by global companies when managing supply chains and selecting partners.
HMM's overall score in this assessment was 91 out of 100, up 4 points from 87 the previous year. In addition to scoring 95 in the environmental category, its existing strength, the company also improved its ethics score after obtaining ISO 37001 anti-corruption management system certification, recording scores within the top 1% across all areas.
HMM also maintained its position as the No. 1 global shipping company for the third consecutive year in the ESG risk rating by Sustainalytics, a subsidiary of U.S.-based Morningstar. This year's score was 12.7, an improvement from 13.6 the previous year, and the company maintained its "Low Risk" grade.
Sustainalytics evaluates seven items including governance, greenhouse gases, ethical management, and safety and health, and classifies corporate risk into five grades (Negligible, Low, Medium, High, Severe). A lower score indicates lower ESG risk for the company.
"Maintaining the highest grade for three consecutive years with our best-ever scores in both globally credible ESG assessments is a highly meaningful result," an HMM official said. "We will continue our ongoing, substantive efforts to internalize ESG management so that it becomes firmly established throughout the company."
