Posco named sustainability champion for third consecutive year

BY JEONG SEONWU, Korea JoongAng Daily - Posco was named a “Sustainability Champion” for the third consecutive year at the semi-annual member meeting of the World Steel Association in London on April 9.

Since 2018, the World Steel Association has annually selected companies pioneering in the areas of carbon neutrality and environmental, social and governance (ESG) among its approximately 140 member companies.

This year, 11 companies were named Sustainability Champions, and Posco earned the distinction of being selected as the Sustainability Champion for the third consecutive year, following its initial win in 2022.

To qualify as one of the champions, a company must fulfill the following four conditions: Demonstrate excellence by endorsing the charter for sustainable development, be chosen as the final candidate for the Steelie Awards or receive verification as an excellent member company through the Safety & Health Recognition program, publish sustainable development reports and submit data on sustainable development and carbon emissions of LCI (Life Cycle Inventory).

These meticulous procedures contribute to the acknowledgment of selected steel manufacturing companies as renowned global examples of ESG management.

Posco earned recognition by meeting all four criteria, showcasing its commitment to transitioning to a low-carbon system.

This included the implementation of electric furnace technology and investments in hydrogen-based ironmaking technology (HyREX).

Additionally, the establishment of the Group Safety Council and Supply Chain Management Council, along with other ESG activities, contributed to this positive outcome.

Posco has maintained its position as the world's most competitive steel company for 14 consecutive years by WSD (World Steel Dynamics), an institution specializing in steel analysis.

Through the development of its proprietary hydrogen-based ironmaking technology and the application of low-carbon bridge technology, Posco is leading the global steel industry toward carbon neutrality.

Source:https://koreajoongangdaily.joins.com/news/2024-04-30/business/guestReports/Posco-named-sustainability-champion-for-third-consecutive-year/2036719 

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