Leadership grade in both Climate Change Response and Water Resource Management… The only steel company in Korea to mark this achievement
On February 6th, POSCO was awarded the Leadership (A-) grade in Climate Change Response and Water Resource Management by the Carbon Disclosure Project (CDP).
*Evaluation Grades (in ascending order): Failure (F), Disclosure (D-, D), Awareness (C-, C), Management (B-, B), Leadership (A-, A)
In the 2023 CDP evaluation, POSCO is the only steel company in Korea to simultaneously achieve a ‘Leadership A-‘ grade in both categories.
Founded in the UK in 2000, CDP is a non-profit organization that requests environmental management information disclosure from over 23,000 companies worldwide and analyzes and evaluates this information. As of 2023, CDP provides evaluation information to more than 740 investment institutions, representing a total market value of approximately USD 136 trillion.
Since 2003, POSCO has voluntarily disclosed its activities in response to climate change and information on greenhouse gas emissions to the CDP, submitting evaluation reports. Since 2016, the company has also provided information on water resource management activities and accounting details.
▲On February 6th, POSCO received the Leadership (A-) grade in Climate Change Response (left) and Water Resource Management from the global environmental response evaluation organization, CDP.
In 2020, POSCO declared its commitment to carbon neutrality by 2050, establishing and implementing a reduction plan roadmap. The company has focused on investments in electric furnace installations, operations with a low hot metal ratio (HMR), and the expansion of low-carbon raw material usage. As a result, POSCO has maintained its greenhouse gas emissions per unit of steel produced at a level 2.1% lower than the average from 2017 to 2019.
*POSCO greenhouse gas emissions per unit: The amount of greenhouse gas emissions (tons) divided by the amount of crude steel produced (tons).
Moreover, POSCO encourages participation in water resource management among its suppliers through Supplier Performance Evaluations (SRM). The company also internally manages water pollutants more strictly than legal standards and strives to secure alternative water resources to reduce dam reliance.
These efforts were recognized, and POSCO received excellent evaluations in the Climate Change Response category for risk analysis, the integration of business strategy with financial planning, site emissions, and energy management. The company was highly rated in seven detailed areas in the Water Resource Management category, including business impact, supply chain management, water accounting, and water pollution management.
Baik-hee Lee, Head of Safety Health Environment Division stated, “We believe that our contribution to the national greenhouse gas reduction goals for 2030 and the realization of the 2050 carbon neutrality vision has been recognized by the global capital market. POSCO plans to continue reducing greenhouse gas emissions and enhancing sustainable competitiveness by commercializing HyREX and systematic water resource management.”