Sustainability is the buzzword of 2018. From industries, governments, to even individuals, the world is striving towards a more sustainable future. POSCO understands the significance of sustainability in building for the future. As a leading global company, we are fully-committed to reducing the environmental impact and enhancing the sustainability of steel.
As a part of this effort, we are going to share the perspective from the expert of ‘Green energy’, Yun jung, Jin who is the senior researcher at POSCO Research Institute (POSRI).
How do we achieve sustainability?
No one would deny the importance of sustainability. But how do we achieve it?
According to Jin, the answer can be found in the ‘Life Cycle Approach’ model. This model provides a better idea of how sustainability can be achieved. Life Cycle Approach seeks to prevent the root causes that can threaten the environment by identifying and considering all stages of a product’s life cycle, beginning with the extraction of raw materials.
Take vehicle emission as an example, it is widely known that electric vehicles produce far less pollution than gasoline vehicles. However, a closer look at vehicle operation would reveal that electric vehicles also produce a fair amount of pollution by burning carbon when generating electricity.
Can Steel be life-cycled?
So how does steel fit into the Life Cycle Approach?
Jin showed little bit more on details of the reasons why steel should be considered as an important eco-friendly as product or a material. Beginning with the manufacturing stage, the by-products of steel production, such as slag, can be recycled to make raw materials for road construction. Once in use, its longevity is a great advantage in terms of sustainability efforts. Steel used in buildings and various infrastructures boast a life span of almost 100 years. Steel used in vehicles and various machines also can last over 10 years.
After it has served its purpose, steel is still highly recyclable and boasts a recycling rate of nearly 90%. Because it can be infinitely recycled while maintaining its inherent property and quality intact, steel is considered the most suitable material for circulation economy.
Steel is essential for our sustainable future
Jin mentioned that the POSRI reports clearly illustrates that various ways of steel can be applied to the Life Cycle Approach and its viability as an integral element for sustainability. POSCO strives to stay ahead of the curve by utilizing its cutting-edge technology to develop innovative products and solutions, such as the GIGA STEEL and FINEX® smelting processes.
Finally, Jin assured that with the Life Cycle Approach in mind, POSCO takes pride in all the efforts in reducing greenhouse emissions and in paving the way towards a sustainable society.