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Hyundai Capital Services announced today that it was acknowledged as the Best Practice Company in the “Sustainable Finance” category at the “UN Global Compact Korea Leaders Summit 2023” hosted by the United Nations Global Compact (UNGC) Korea.
The Korea Leaders Summit is the largest conference held every year by the UNGC Korea which convenes business leaders, UN officials, government leaders, Sustainable Development Goals (SDGs) stakeholders and civil society professionals to comprehensively review the private sector’s contribution to advancing the SDGs.
This recognition signifies Hyundai Capital Services’ continuous commitment and dedication towards UN SDGs and its leading Environmental, Social and Governance (ESG) efforts since joining the Compact in June 2022.
Over the past year, Hyundai Capital Services has been carrying out substantial ESG activities such as:
- Establishing vision, goals, and governance for sustainable management
- Establishing a mid- to long-term management system to reduce carbon emissions as a global automobile finance company
- Launching eco-friendly mobility financial products such as eco-friendly vehicle financial products, chargers, and batteries.
During the Summit, Daniel Lee, CFO of Hyundai Capital Services presented on the company’s ESG management best practices and shared performance results with the UNGC members. “Hyundai Capital has issued KRW 5.9 trillion (USD 4.5 billion) in ESG bonds to date since becoming the first company in the automotive sector in the world to issue green bonds in 2016,” said Daniel Lee.
“We have taken the lead in ESG management by operating a diverse eco-friendly procurement portfolio, including the issuance of Sustainability Linked Bonds worth USD 170 million for the first time in Korea. We are an active player in ESG bond market, issuing the most diverse currencies in Korea. With various ESG-related projects, we will continue supporting Hyundai Motor Group’s commitment to global sustainability.“
In order to contribute in earnest to achieving the UN SDGs, Hyundai Capital Services has joined the UN Global Compact CFO Coalition for the SDGs as a signatory member on November 14. The aim of the Coalition is to provide CFOs around the globe with a platform to develop principles, frameworks and recommendations to direct private capital towards sustainable investment and create a market for mainstream SDG investments. Joining the CFO Coalition is a great opportunity for Hyundai Capital Services to continue advancing sustainable finance in global business.
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“As a global automotive finance company, Hyundai Capital Services plans to continue to actively project eco-friendly values into its financial products and services. We will drive corporate finance strategies with real-world ESG impacts and help create a sustainable financial system and fulfill our role as a UNGC member,” said Lee Ji Woon, Head of Compliance team at Hyundai Capital Services.