Posco selected as Sustainability Champion, again

Guest Reports

Published: 26 Apr. 2023, 17:16

Posco selected as Sustainability Champion, again

Posco Group Chairman Choi Jeong-woo, left, and director-general of the World Steel Association Edwin Basson, as Posco is selected as the Sustainability Champion for two years in a row by the World Steel Association on April 18. [POSCO]

Posco was selected as the Sustainability Champion for the second straight year at the World Steel Association’s meeting on April 18 in Vienna, Austria.

Since 2018, the World Steel Association has been selecting a Sustainability Champion every year for being a leader in environment, social and governance (ESG) initiatives and carbon neutrality in the steel industry. Posco was honored to be chosen as one of the 10 companies again this year.

In terms of winning the Sustainability Champion award, companies are required to meet four conditions, including being selected as an excellent sustainability member, being a finalist in the Steelie Awards or Safety & Health Excellence Recognition, being published in the Sustainable Development in Government Report (SDiG) and submitting of data on sustainability and Life Cycle Inventory (LCI). Thus, the company selected will be recognized as a global ESG exemplary.

Not only did Posco satisfy all of the four above conditions, but it was also recognized for its efforts and achievements in ESG management including the joint development of hydrogen reduction steel making, joining the Net-zero carbon 2050 Declaration, and establishing its advanced governance.

“This is the result of being quick to demand carbon neutrality and ESG manangement to overcome the climate crisis,” Posco Group Chairman Choi Jeong-woo said. “Seizing the challenging task of carbon neutrality as an opportunity, we will lay the groudwork for a 100-year-old company that continues to grow as a leading company with green future materials.”

Meanwhile, Kim Kwan-hyeong, junior manager of the steelmaking department of Posco Gwangyang Works, was the runner-up at the SteelChallenge-17: Steelmaking Process Competition, held by the World Steel Association on April 18. The SteelChallenge has been held every year since 2005 for steel engineers around the world, simulating how to produce steel while minimizing costs within the given time frame and conditions.

BY PARK YE-EUN [park.yeeun@joongang.co.kr]