SEOUL, March 24 (Korea Bizwire) — The trend of ESG (environmental, social and governance) management is gaining momentum even in traditional industries like construction machinery.
Construction equipment maker Doosan Infracore Co. is accelerating efforts to develop eco-friendly products to reduce carbon emissions after reshuffling the organization responsible for sustainable management into an ESG team in January.
The company launched the development of mild hybrid powertrain technology, which represents a midpoint between internal combustion engines and fully electric motors, and had a series of successful tests in June 2020.
In addition, Doosan Infracore is also engaged in the development of an electric excavator that is operated by an electric battery rather than diesel engine. It’s also running a factory environment monitoring system using Internet of Things (IoT) technology.
As part of its ESG management initiatives, Hyundai Construction Equipment Co. also plans to issue 50 billion won (US$44 million) worth of sustainability bonds next month.
The proceeds will be used to establish eco-friendly structures that can contribute to energy saving and reducing environmental pollution, as well as to promote the development of hydrogen forklifts.
Hyundai Construction Equipment also joined hands with the Hyundai Motor Group to develop the world’s first hydrogen forklift and mid- and large-sized hydrogen excavators, both based on hydrogen fuel. The company aims to launch mass production in 2023.
Ashley Song (firstname.lastname@example.org)