We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of Hanwha Solutions, Lee Koo-yung, is the Chairman of the Korea New and Renewable Energy Association. (KNREA website, last accessed September 2022)
Lee Koo-yung
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of Hanwha Solutions, Lee Koo-yung, is the Chairman of the Korea New and Renewable Energy Association. (KNREA website, last accessed September 2022)
Lee Koo-yung
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of Hanwha Solutions, Nam Yi-hyun, is the Vice President of the Korea Petrochemical Industry Association. (KPIA website, last accessed September 2022)
Nam Yi-hyun
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The CEO of Hanwha Solutions, Nam Yi-hyun, is the Vice President of the Korea Petrochemical Industry Association. (KPIA website, last accessed September 2022)
Nam Yi-hyun
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The Executive Director of Hanwha Solutions, Cho Byeong-nam, is a member of the "Environment & Climate" Committee of the Korea Chamber of Commerce and Industry (KCCI). (KCCI website, last accessed August 2022)
Cho Byeong-nam (조병남)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The Executive Director of Hanwha Solutions, Cho Byeong-nam, is a member of the "Environment & Climate" Committee of the Korea Chamber of Commerce and Industry (KCCI). (KCCI website, last accessed August 2022)
Cho Byeong-nam (조병남)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The Vice Chairman of Hanwha Solutions, Kim Chang-bum, is the Vice President of the Korea Enterprises Federation. (KEF website, last accessed August 2022)
Kim Chang-bum
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
The Vice Chairman of Hanwha Solutions, Kim Chang-bum, is the Vice President of the Korea Enterprises Federation. (KEF website, last accessed August 2022)
Kim Chang-bum
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Hanwha Solutions is a direct member of the Korea Business Council for Sustainable Development. (KBCSD website, last accessed September 2022)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Hanwha Solutions is a direct member of the Korea Business Council for Sustainable Development. (KBCSD website, last accessed September 2022)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Hanwha Solutions is a direct member of the Korea International Trade Association. (KITA website, last accessed July 2022)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Hanwha Solutions is a direct member of the Korea International Trade Association. (KITA website, last accessed July 2022)
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Policy Engagement Overview: Hanwha Solutions appears to have very limited engagement with climate policy in South Korea. The company has supported policy to expand the use of renewable energy in South Korea, but also appears to support the maintenance of high GHG emissions energy mix, such as advocating for hydrogen co-firing with LNG.
Top-line Messaging on Climate Policy: InfluenceMap found limited evidence of clear top-line messaging on climate policy by Hanwha Solutions. At the 2021 P4G Seoul Summit in May 2021, the CEO of Hanwha Solutions, Kim Dong-kwan, appeared to support GHG emissions reductions, but it was not clear whether he supported a pace and extent of reductions in line with IPCC recommendations.
Engagement with Climate-Related Regulations: InfluenceMap found limited evidence of Hanwha Solutions’ engagement with climate-related regulations. In its response to the CDP 2021 Climate Change Information Request, Hanwha Solutions stated support for renewable energy policy, such as RE100, in South Korea.
Positioning on Energy Transition: Hanwha Solutions has limited engagement, on the transition to a low-carbon energy mix, taking a mixture of positive and negative positions on the topic. In an interview with Hankyung in September 2021, the CEO of Hanwha Solutions, Kim Dong-kwan, stated support for hydrogen co-firing with LNG without clear conditions on CCS or methane abatement, stating that co-firing technology would be “the most realistic and economical alternative.” At the 2021 P4G Seoul Summit in May 2021, he communicated a support for a shift away from coal and LNG, but also supported hydrogen co-firing with LNG without any reference to CCS or methane abatement. In a position paper on the 2050 Carbon Neutrality Scenario, in September 2021, Hanwha solutions supported the expansion of renewable power generation and the establishment of green hydrogen production infrastructure.
Industry Association Governance: Hanwha Solutions has not provided a full transparent disclosure on its membership to industry associations and its indirect climate policy engagements on its corporate website. Hanwha Solutions retains membership to the Korea Business Council for Sustainable Development (KBCSD), the Korea Chamber of Commerce and Industry (KCCI), the Korea Enterprises Federation (KEF), and the Korea International Trade Association (KITA).