Hyosung published the 2012 Sustainability Report for the first time in May. Let’s examine the six-month production process of the report and look back on our company’s sustainability activities.
<Suggesting Future Activities of Hyosung According to its Sustainability Report>
Sustainability Report reports to various stakeholders (clients, partners, etc.) the financial performance such as sales or operating profits from the business activities of a company as well as non-financial performance such as economic, environmental and social responsibilities. It is a means of communication disclosing information on the company’s management philosophy, management system and performance in relation to social responsibility in the form of a report. It measures and discloses the organizational performance for sustainable growth, and also indicates a form of a pledge promising that the company will fulfill responsibilities to internal and external stakeholders.
In the past, companies considered profit making as the ultimate goal; today, they tend to value social responsibility such as environmental protection, social contribution for the vulnerable social group, and ethical management of employees. To keep pace with the social trend, Hyosung has published the Sustainability Report.
Hyosung’s Sustainability Report divides sustainability activities propelled in the corporate level and activities in each business division, enhancing the level of understanding in terms of the group. The report is connected with major interests of internal and external stakeholders. Sustainability issues of each field such as economy, society and environment are linked with activities of the group and each PG unit, maintaining the overall consistency and displaying the characteristics of each business division.
First, the cover shows various business divisions based on the CI. Especially environment-friendly paper is used to emphasize environmentally friendly image, and originality was added to the design with 3D illustrations. The 3D icons indicate sustainability performance that values the partners, clients, local community, employees and environment. The 3D icons of each business field of Hyosung as well as economy, society and environment were applied organically to incarnate Hyosung’s identity with vivid colors.
Navigation was used to enhance legibility of the texts in the body, and supplements were added to contain all sustainability activities propelled by domestic business sites that were not included in the body. Information on various business divisions included all sustainability activities in each domestic business site, which was a massive process that no other business groups in Korea as well as overseas have ever attempted. It is a report compiling all activities in each business site so that stakeholders can see them easily.
To publish the Sustainability Report, Hyosung put a lot of effort. The company formed the Sustainability Report Development TFT led by the Communication Team. Korea Productivity Center, which is a consulting firm, held a briefing session for the people in charge.
The session provided education regarding the development of sustainability reports, and increased efficiency by sharing work and schedule for the development. Each person in charge on the worksite submitted documents and materials related to sustainability as conducted by each relevant department to the Communication Team, based on which the report was written.
In the process, the personnel in charge reviewed unfamiliar documents related to sustainability, collected data by contacting each relevant department, and put in a great deal of efforts and time in preparing the materials. In particular, the process overlapped with the tasks of the end and beginning of the year, forcing them to juggle their duties. Despite such circumstances, the personnel in charge helped produce the report. The report went through the verification of Norway’s Det Norske Veritas (DNV) Certification and acquired the highest level of A+ in the international guideline GRI (Global Reporting Initiative).
The publication of this Sustainability Report provided an opportunity to disclose the company’s sustainability activities to internal and external stakeholders, and also to inspect and improve sustainability activities internally. Based on this report, our company will continue to materialize sustainable growth by inspecting the sustainability activities and improving supplement points.
In the recent global economic environment, clients demand active and sincere attitude in corporate social responsibility. There is also an increasing trend in the advanced markets demanding sustainability reports in business activities and new business cooperation. For example, Michelin in France requested a survey on sustainability activities in 2012 to the Tire & Industrial Reinforcements PU, and Ontex in Germany to the Spandex PU.
By disclosing our company’s sustainability activities through the Sustainability Report, it became more convenient to provide information in external evaluations such as Win-Win Index conducted by the National Commission for Corporate Partnership or Green Ranking by Korea JoongAng Daily (JoongAng Ilbo). Keeping pace with this trend, this Sustainability Report is expected to deliver transparent and objective corporate activities of Hyosung to clients and perform the role of enhancing social reliability
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