Applying International Sustainability Standards Board’s Disclosure Recommendations and Disclosing Consolidated Group ESG Data
Establishing a Special Page with Improvement Plans to Address Key Investor Inquiries Such as Climate Change Response
Chairman Jeong-woo Choi said, “We will continue to grow into a 100-year company that increases the competitiveness of the low-carbon industrial ecosystem and adds value to the world.”
On July 20, POSCO Holdings released the 2022 Sustainability Citizenship Report, which describes its ESG performance for the first year since its transition to a holding company.
To proactively respond to global ESG disclosure requirements, POSCO Holdings detailed its performance on key ESG issues in the order of “governance, strategy, risk management, indicators and goals” in the report based on the disclosure recommendations of the International Sustainability Standards Board (ISSB) under the International Financial Reporting Standards (IFRS). A distinct feature of the report is that it has standardized and integrally verified the ESG data of POSCO Holdings and its seven major operating companies (POSCO, POSCO INTERNATIONAL, POSCO E&C, POSCO FUTURE M, POSCO DX, POSCO M-TECH, and POSCO STEELEON), and presented it in a clear and coherent manner on a group level.
In this report, POSCO Holdings established a special page detailing its progress and improvement plans for key investor inquiries such as △ climate change response, △ supply chain management, and △ human rights.
In particular, the report systematically identified and assessed the physical risks associated with climate change at its major domestic and overseas business sites. It also introduced the case of successful recovery of the Pohang Steelworks from Typhoon Hinnamnor, which demonstrated its effective handling of physical risks.
*Physical Risk: Risk of direct losses of a company’s tangible assets due to climate change such as extreme weather and droughts
In addition, the ESG Issue Paper transparently presents accurate facts and responses to human rights and environmental issues at POSCO’s global business sites.
Jeong-woo Choi, POSCO Group Chairman, said in a greeting, “In the future, corporate competitiveness will be determined by the competitiveness of the ecosystem comprising stakeholders around the company, such as partners, suppliers, customers, and the local communities.” He added, “Through eco-friendly investments, we will continue to grow into a 100-year company that enhances the competitiveness of the eco-friendly, low-carbon industrial ecosystem and adds value to the world.”
The 2022 Sustainability Citizenship Report can be accessed on the official website of POSCO Holdings (www.posco-inc.com).[View the 2020 Sustainability Citizenship Report (EN)▶]
Meanwhile, POSCO Group plans to actively respond to global ESG disclosure requirements by expanding and operating an internal platform that systematically collects and manages ESG data at the group level.