POSCO was selected as the Sustainability Champion for two years in a row at the first half of the year member’s meeting of the World Steel Association which was held in Vienna, Austria on April 18.
POSCO was credited highly for its efforts and achievements for ESG management, including the joint efforts for the development of HyREX, the declaration of carbon neutrality in 2050, the establishment of an advanced governance structure, etc.
The World Steel Association has been selecting companies that lead the carbon neutrality of the steel industry and the field of environmental, social and corporate governance (ESG) as Sustainability Champions, among over 140 member countries every year since 2018. Ten companies registered their names on the Sustainability Champions this year, and POSCO held the honor to be selected as the Sustainability Champion both last year and this year.
To be the Sustainability Champion, the following four (4) conditions should be satisfied: △ Being selected as a member excellent in sustainability, △ Being a finalist in the Steelie Awards or Safety & Health Recognition, △ Issuance of a Sustainability Report, and △ Submission of the sustainability data and the Life Cycle Inventory (LCI) data for each material and process. Due to this, the steel company which has been selected as the Sustainability Champion will be recognized as the global best practice for ESG management worthy of its name.
POSCO was selected as the Sustainability Champion for two years in a row because it had been credited for its efforts and achievements for ESG management, including the joint efforts for the development of Hydrogen Reduction (HyREX) technology , declaration of carbon neutrality in 2050, the establishment of an advanced governance structure, etc. as well as fully meeting the above-mentioned four conditions.
CEO of POSCO, Jeong-Woo Choi said that “it is the result that POSCO responded quickly to the request for the performance of carbon neutrality and ESG management for overcoming the climate crisis,” and he would “harden the foundation as a company with a history of a hundred years which would continually grow as a representative company of the environment-friendly future materials by using the challenging task of carbon neutrality as an opportunity to take a leap.”
Meanwhile, an assistant manager in the Steelmaking Department of Gwangyang Works Gwan-Hyeong Kim placed second in the steelChallenge-17 on April 18. The steelChallenge-17 is a steelmaking process competition that has been held by the World Steel Association for steel engineers all around the world every year since 2005. Participants simulate and derive methods for producing steel at the lowest cost within given conditions and time limits.