Second Sustainability Report Published, with Strengthened ESG Targets
CDP A Rating for Three Consecutive Years, Recognized as an ESG-Excellent Company
Global industry leader TK Elevator (hereinafter TK Elevator) has published its second sustainability report. Titled "Acting Today for a Sustainable Tomorrow," the report sets out the company's strengthened ESG (environmental, social and governance) targets and underscores the importance of sustainability as an essential strategy.
In the report, TK Elevator noted that its sustainability efforts are being recognized by leading ESG rating agencies. The company was awarded the top A rating by CDP (Carbon Disclosure Project) for the third consecutive year, was named a "2023 ESG Top-Rated Company" by Sustainalytics, and also earned an EcoVadis Gold Medal, which is granted to only the top 5% of companies assessed.
TK Elevator CEO Uday Yadav said, "We are part of the solution for realizing sustainable urban mobility," adding, "Being transparent about our journey to create sustainable value is of the utmost importance."
In fiscal year 2021/22, TK Elevator made significant progress in implementing its decarbonization roadmap aimed at achieving carbon neutrality by 2050. This includes a substantial 21% reduction in greenhouse gas emissions compared with 2019.
As a member of the global RE100 project, TK Elevator is working to use 100% renewable electricity by 2030. To this end, in 2021/22 the company sourced 59% of its electricity consumption from renewable energy, up 13% from the previous year. In addition, this accounts for 88% of the electricity used at its plants worldwide, a 10% increase over the previous year. Alongside climate protection, continuously improving social responsibility and industrial safety is also a priority goal. TK Elevator further strengthened safety as a global priority in 2021/22 and conducted successful supplier audits.
TK Elevator's recently launched eco-friendly digital elevator "EOX" clearly reflects the company's approach to sustainability. Launched to target low- and mid-rise buildings, the premium EOX elevator achieved an A rating for energy efficiency by reducing energy consumption by up to 28% through its high efficiency.
Meanwhile, TK Elevator (formerly thyssenkrupp Elevator), which serves customers in more than 100 countries, employs over 50,000 people and recorded sales of more than 8.5 billion euros (approximately 12.4 trillion won) in fiscal year 2021/22. It also has an extensive network in more than 1,000 locations around the world, enabling it to provide customers with more closely tailored service. Over several decades, TK Elevator has established itself as one of the world's leading elevator companies, and in August 2020 it was spun off as an independent company from the thyssenkrupp Group. TK Elevator has more than 25,000 service technicians worldwide and offers a diverse product portfolio ranging from residential and commercial elevators to state-of-the-art elevators, as well as escalators, moving walks, passenger boarding bridges, and stair/platform lifts. Its innovative product "TWIN," which operates two elevators in a single shaft, has been installed and is in operation at 10 sites in Korea, including ParcOne and Amorepacific. In addition, through digital services such as "MAX," the industry's first predictive maintenance solution, the company is eliminating the limits of urban mobility.