POSCO was selected as the 35th most sustainable company in the world by Toronto-based magazine and research firm Corporate Knights, who released “The Global 100,” the 13th annual listing of the most sustainable corporations in the world. The announcement, made at the World Economic Forum in Davos, Switzerland, marks the third year in a row that POCSO has received such a distinction. POSCO was also the only steelmaker to have been listed.
Using publicly available data, Corporate Knights examined about 4,000 companies with a market value of at least $2 billion. Their methodology looked at 14 key performance indicators (KPIs) covering environmental, social, and financial performance metrics. KPIs included energy efficiency, greenhouse gas emissions management, atmospheric environment management, water resources management, waste recycling, innovation capacity, tax rates, wage disparities, pension fund ratios, safety performances, turnover rates, diversity, and links between sustainability performance and compensation.
POSCO received high marks for its safety performance, water efficiency, waste recycling, and the levels of average employee wages compared to CEOs.
POSCO ranked first among other Korean companies with Shinhan Financial Group (40th) and LG Electronics (65th) also being listed on The Global 100. German conglomerate Siemens topped the list, followed by Storebrand ASA (Norway) and Cisco Systems Inc (USA). Johnson & Johnson placed 8th, Coca-Cola 48th, and GE 99th (see the full list).
These evaluations are significant in that they recognized POSCO’s efforts to secure a sustainable future despite increasingly difficult market conditions such as global over supply of steel, sluggish demand, and strengthening trade regulations.
In addition to The Global 100, POSCO has been listed on the SAM-Dow Jones Sustainability Index for 12 straight years (2005-2016), and World Steel Dynamics (WSD) has named POSCO the most competitive steelmaker in the world for seven years running since 2010.