Hanwha Systems declares its support for the TCFD and actively joins the response to climate change.

Hanwha Systems announced on the 10th that it has declared its support for the Task Force on Climate-related Financial Disclosure (TCFD).

The Task Force on Climate-related Financial Disclosures (TCFD) is a body established in 2015 by the Financial Stability Board (FSB), an international organization, and recommends that companies disclose climate change-related information and incorporate it into their organizational decision-making.

This is an evaluation indicator whose influence has been continuously expanding since 2020, and it aims to identify the degree of financial risk that companies may face due to the climate crisis. As of November 2022, more than 4,000 are being supported in 101 countries.

Hanwha Systems announced that through this declaration of support, it plans to transparently disclose financial information related to climate change and actively participate in climate change response.

Eo Seong-cheol, CEO of Hanwha Systems, stated, “Through our declaration of support for the TCFD, Hanwha Systems intends to actively participate in the response to climate change across all business sectors, including defense, ICT, and new businesses such as UAM and low-orbit satellite communications.” He added, “As we aim to become a global enterprise, we will accelerate the internalization of ESG management to fulfill our corporate social responsibilities and strive to secure growth engines for sustainable development.”

Meanwhile, Hanwha Systems has been publishing sustainability reports since 2021 to disclose detailed ESG activities and management performance. Last November, it received an A grade for the second consecutive year in the '2022 Listed Company ESG Rating Evaluation' announced by the Korea ESG Standards Institute (KCGS), following 2021. In particular, the social domain, corresponding to 'S', received an A+ grade.

Last October, we implemented the 'Partner ESG Management Support Project' for 20 major partner companies. In September, we officially launched 'ESG ON,' an ESG management system that comprehensively manages, diagnoses, and evaluates corporate ESG activities and simplifies disclosure tasks. We are operating various programs to build a culture of mutual growth between large corporations and SMEs.

It is also making its presence felt in the UAM industry, which is emerging as an eco-friendly future mobility sector. We started joint development with Overair, which develops and produces core components such as UAM propulsion systems, in 2020 and are developing the airframe with the goal of producing a prototype by the end of this year and commercializing it in 2026.