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POSCO Carbon Neutrality Statement … Jeongwoo Choi “Low Carbon Society, An Important Agenda For Us”
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| While responding to climate change has emerged as the greatest challenge for humanity, POSCO has expressed its commitment to lead in carbon neutrality. The photo shows POSCO President Jeong-woo Choi. / The fact database |
Creating an ecological ecosystem in the steel industry with ‘Green Steel’
[더팩트ㅣ장병문 기자] POSCO has declared the achievement of ‘Carbon Neutral (the concept of making actual emissions’ 0 ‘by taking steps to absorb the carbon dioxide emitted)’ by 2050.While responding to climate change has emerged as humanity’s greatest challenge, POSCO’s commitment to leading carbon neutrality is a significant statement considering the characteristics of the business where carbon dioxide emissions are unavoidable. In particular, it is the first Asian steelmaker based on large blast furnace production systems like Korea, China and Japan to officially announce a carbon neutral plan, setting a challenging goal.
POSCO plans to use carbon risk as an opportunity in the world’s transition to a low-carbon economy. POSCO plans to lead the creation of a sustainable world as a corporate citizen by achieving carbon neutrality. The plan is to achieve ‘low carbon competitiveness’ that can produce ‘green steel’ through the development of innovative technologies such as carbon capture, storage and utilization (CCUS) and hydrogen reduction steel, as a key touchstone for make the ‘POSCO 100 year company’ a reality. POSCO’s Carbon Neutral Statement is a commitment to play a leadership role as a leading domestic manufacturing company to achieve the government’s ‘2050 carbon neutral’ and implement the ‘Green New Deal’.
Additionally, POSCO is transparently disclosing weather-related information. In March, the first Korean manufacturing industry to declare its support for the TCFD (Climate Change Financial Information Disclosure Working Group), along with this carbon neutrality statement, released the POSCO Climate Action Dialogue (Dialogue of POSCO for Climate Action), which reflects the recommendations of the TCFD. To achieve the carbon neutral goal in 2014, the short-term goals of 20% reduction in 2030 and 50% reduction in 2040 are proposed, and the analysis of climate scenarios highlighted in the TCFD recommendations is included, adding meaning.
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| In the climate action report published by POSCO, the short-term goal of a reduction of 20% by 2030 and 50% by 2040 is proposed to achieve the carbon neutral goal by 2050. / Provided by POSCO |
It introduces various low-carbon solutions under development to reduce carbon emissions and mentions low-carbon technologies that will be applied step by step in the future. In the first stage, the improvement of energy efficiency and the replacement of cheap low-carbon fuels are promoted. In the second stage, scrap usage is advanced and CCUS is applied, and in the third stage, existing FINEX-based hydrogen reduction steelmaking technology is developed to finally reduce the hydrogen and carbon based in renewable energies. You plan to implement a neutral steel manufacturing process.
In the preface to the Climate Action Report, President Jeong-Woo Choi said: “Responding to climate change is not a future problem, but a current problem that must be solved from now on. It is an important agenda for POSCO, a corporate citizen who wants to contribute to creating a better world “From one point of view, several leading companies, including POSCO, should play a key role in finding a way to achieve a low carbon society.”
“In the process of achieving carbon neutrality, we not only face many challenges, we cannot do it alone, and it is important to make joint efforts through ongoing communication and partnership with our stakeholders.” “So that the establishment of a clean energy infrastructure can be promoted. We will cooperate with industry, government and investors. “
POSCO is strengthening ESG management so that the management philosophy of ‘Corporate Citizenship Growing Together’ can take hold in all fields. In January, it was the first in Korea to establish a dedicated ESG organization in the Office of Corporate Citizenship directly below the CEO, and is strengthening business competitiveness through ESG risk analysis and strategy setting.
