Posco’s sustainability recognized by World Steel Association

South Korean steelmaker Posco has been recognized for its sustainability efforts by the World Steel Association, the company said Sunday.

The World Steel Association, also known as worldsteel, has picked as Posco as one of the 39 sustainability charter members which proactively embraces the sustainability principles of the steel industry, according to the South Korean steel giant. A total of 142 companies and associations across the world are members of worldsteel.

The recognition of the sustainability charter members was established this year to show a steel maker has been qualified to meet the principles of sustainable management of worldsteel.

Worldsteel added the principles of climate action and responsible value chains -- the key factors of environmental, social and governance or ESG in the steel industry -- to its sustainability charter. The existing principles include the circular economy, environmental care, safety, health, local communities, innovation, prosperity and ethical and transparent operations. 

Posco said it met the standards by receiving the International Organization for Standardization’s environmental and safety certification, disclosing the information of carbon emissions and pollutants from the perspective of the Life Cycle Assessment, implementing supply chain policies in consideration of ESG and strengthening stakeholder communication.

“As a responsible corporate citizen, Posco is committed to building a green tomorrow with full support for worldsteel’s new charter,” said Posco CEO Choi Jeong-woo.

The company said it will continue to contribute to make the world a better place based on its corporate citizenship management philosophy. Posco plans to lead the low-carbon transition of the steel industry by developing hydrogen-reduction steelmaking technology to create a sustainable future, it added.

By Kan Hyeong-woo (hwkan@heraldcorp.com)