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Press ESG July 28, 2021

TYM published the industry's first ESG Report

TYM has announced last 28 September its ESG Report for 2020, which contains the company’s environmental, social, and governance (ESG) management strategies and major achievements.

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TYM has declared an ESG management report, a first of its kind in the agricultural machinery industry. Since the announcement, the company has established an in-house ESG committee and secretariat to organize and implement a long-term ESG plan. Through this report, the company has declared its sustainability achievements and vision for the future.

The report introduces the company and its products, key issues on sustainability, environment, social, and governance, and the company’s initiatives in each sector.

On sustainability, the report highlights TYM’s ESG vision and its assessment matrix called “innovative legacy for the next generation.

The environment section reveals how the company continuously monitors its greenhouse gas emissions and energy to use to cope with climate change. The company has also signed a memorandum of understanding (MoU) with SENsolution Co. Ltd., an eco-friendly energy company, to manage water pollutants and analyze energy use.

The company’s social work initiatives include the construction of a disaster control tower system and other activities. TYM built the disaster control tower to prepare for accidents and natural disasters that could occur suddenly.

On governance, the company has emphasized its commitment to diversity and independence of the board, strengthened by the presence of external directors, to establish a fair governance structure. They also formed an ESG committee with its board of directors to ensure the achievement of the company’s sustainability goals.

To support its ESG agenda, TYM established an ESG governance and performance management system, an impartial body that will respond to complaints, disclosures, and external evaluations, and to participate in various international agreements. Through its continuous ESG management, TYM aspires to develop 30% sustainable products by 2024, 80% of ESG’s best-rated partners, and to achieve carbon net-zero by 2040.

Kim Do-hoon, CEO of TYM, said, “To mark the 70th anniversary of its foundation, TYM has declared a new vision, ‘designed for your world’, to keep up with the trend and create a future world that customers want.”

Meanwhile, TYM’s ESG report was produced in PDF format, not in print, as part of its environmental initiatives. The report is also available in English for global partners and consumers.

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