Deforestation Prohibition Policy

Deforestation Prohibition Policy

Hyundai Steel leads the way in eradicating deforestation to protect all species that reside in forests, including humans. Further, we will continue to implement policies to protect the planet through reducing industrial waste and expanding our investment in renewable energy.

1. Moving forward, we will implement a ban on all forms of deforestation when developing our business sites, and restore green areas (including forests) when existing business operations are shut down. By nurturing green areas in cooperation with local communities, we strive to regenerate forests in conservation areas and regions with damaged forests, including in the vicinity of our business sites. Further, we endeavor to apply this policy to our own business operations, tier one suppliers, and tier two suppliers and above.
2. We establish internal procedures to review deforestation risks relating to our own business operations, our supply chain, and our partners. Through regular risk reviews and collaboration with a specialist partner, we plan afforestation projects to achieve Zero Net Deforestation and secure the funds required for afforestation projects if necessary. Additionally, we continuously promote information dissemination activities to raise awareness of deforestation among employees and other stakeholders.
3. In collaboration with a specialist partner and local community stakeholders, we strive to realize our commitment to Zero Net Deforestation through reforestation by 2050. We also continue to research and collaborate externally on recycling waste and expanding green spaces within our company. Further, we endeavor to unceasingly implement afforestation projects that contribute to strengthening ecological functions, reducing greenhouse gas emissions, and improving the landscape.

Record on Enactment and Revision
Deforestation Prohibition Policy Enacted in June, 2021
Deforestation Prohibition Policy Reviced in June, 2022
Deforestation Prohibition Policy Revised in August, 2023