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[이데일리 송승현 기자] Hyundai Motor Group, including Kia and Kia, expanded and reorganized the’Transparent Management Committee’ within the BOD to the’Sustainability Management Committee’, and accelerated the ESG (Environmental, Social, Governance) management system in the committee.
In the announcement of the convocation of the general shareholders’ meeting on the 18th, Hyundai Mobis proposed an agenda to change the articles of incorporation of the reorganization of the existing’Transparent Management Committee’ into the’Sustainability Management Committee’. Hyundai Mobis explained that it plans to enhance the ESG management system by adding the decision-making authority related to ESG to the newly reorganized’Sustainability Management Committee’.
Hyundai Motor Company and Kia also plan to go through the board of directors in the near future to finalize and disclose the agenda to amend the articles of incorporation. Each of the three companies, including Hyundai Motor Company, has established a’Transparent Management Committee’ consisting only of outside directors within the board of directors to enhance shareholder value and strengthen shareholder communication by securing internal transaction transparency, protecting shareholder rights, and reviewing large-scale investments since 2015.
In addition to the existing role of the’Transparent Management Committee’, the’Sustainability Management Committee’ expands the scope of agenda discussions in the ESG field to additionally have the authority to deliberate and decide on the company’s EGS policies, plans, and major activities. Hyundai Motor Company, Kia, and Hyundai Mobis expect the’Sustainability Management Committee’ to play the role of a practical control tower for ESG management in the future.
The’Sustainability Management Committee’ of Hyundai Motor Company, Kia, and Hyundai Mobis will also have the authority to review the company’s safety and health plans in line with the ESG deliberation and resolution functions. The’Sustainability Management Committee’, consisting only of outside directors, reviews the established safety and health plan in advance, examines the effectiveness and appropriateness from a more objective perspective, and presents opinions on revisions and supplements.
Through this, it is expected that more precise decision-making on industrial safety will be possible during the approval process of the board of directors.
An official of the Hyundai Motor Group said, “We will contribute to humanity and create sustainable future values through the establishment of the ESG management system.” “We will strive to become a company loved by the market and society by working together with all executives and employees, led by the board of directors.” .
Meanwhile, three companies, including Hyundai Motors, are focusing on developing eco-friendly vehicles such as electric vehicles and hydrogen electric vehicles, while also paying attention to securing future values by actively engaging in win-win partnerships with business partners and shareholder-friendly management. Recently, Hyundai Motor Company successfully issued 400 billion won worth of ESG bonds, and Kia is also considering issuing ESG bonds. The funds raised through ESG bonds will be used for investment in the development of electric and hydrogen electric vehicles, as well as the development and sales of new eco-friendly vehicles.