POSCO satisfies all sustainability management principles that the steel industry should pursue, including safety and health, and environmental, social, and governance (ESG).
The World Steel Association (worldsteel) highly evaluates POSCO’s Corporate Citizenship management philosophy and sustainability management.
Among the 142 member organizations that joined the World Steel Association (worldsteel), the organization, on March 3, recognized 36 steel companies and three associations, including POSCO, that proactively embrace the sustainability principles of the steel industry as Sustainability Charter Members.
▲ Description of “Sustainability Charter” produced by worldsteel
The Sustainability Charter Member was established this year as a qualification granted to steel makers that satisfy all the detailed criteria related to the principles of sustainable management required by worldsteel among the members of the association.
Only companies that satisfy all the principles and detailed criteria related to sustainability management can become Sustainability Charter Members, and POSCO met all the requirements, such as △Environment/safety ISO certified, △Disclosure of carbon emissions and pollutants from the perspective of Life Cycle Assessment (LCA), △Supply chain policy considering ESG, and △Strengthened communication with stakeholders.
Worldsteel first published the Sustainability Charter in 2009, and it is reviewed every three years. This year, the key ESG factors of the steel industry, △Climate action and △Responsible value chains, were added to the seven existing principles, including △The circular economy, △Environmental care, △Safety and health, △Our people, △Local communities, △Ethical and transparent operations, and △Innovation and prosperity.
POSCO has also been selected as the “’World’s Most Competitive Steelmaker” for 12 consecutive years by World Steel Dynamics (WSD), a globally renowned steel analysis institution. POSCO will continue to contribute to making the world a better place based on its Corporate Citizenship management philosophy. In particular, POSCO plans to lead the low-carbon transition of the steel industry by developing hydrogen-reduction steelmaking technology to create a sustainable future for mankind.