SEOUL, April 28 (Yonhap) — Hyundai Heavy Industries group, the world’s biggest shipbuilder by orders, said Wednesday that it has established environmental, social and governance (ESG) committees under its five affiliates to develop eco-friendly technologies.
The committees are meant to support environmental protection, social justice and ethical management practices.
The five affiliates are Hyundai Mipo Dockyard Co., Hyundai Construction Equipment Co., Hyundai Electric & Energy Systems Co., Hyundai Heavy Industries Co. and Hyundai Samho Heavy Industries Co.
The other four affiliates — Korea Shipbuilding & Offshore Engineering Co., Hyundai Heavy Industries Holdings Co., Hyundai Oilbank Co., Hyundai Energy Solutions Co. — will set up the ESG committee down the road, the group said.
With the establishment of the committees, the group will take the initiative in addressing global environmental problems by making efforts to develop eco-friendly technologies, it said.
In February, Hyundai Heavy Industries raised 300 billion won (US$269.5 million) by selling ESG bonds, which will be used to build eco-friendly ships.