POSCO Publishes Corporate Citizenship Report... Chairman Choi Jeong-woo: "We Will Become a Leading ESG Company"

Challenges and Response Strategies for Environmental Protection, Including Corporate Citizenship Management Performance

[Asia Economy Reporter Park Sun-mi] On the 5th, POSCO published the '2020 Corporate Citizenship Report' in celebration of Environment Day. Choi Jeong-woo, Chairman of POSCO, reiterated his commitment to ESG (Environmental, Social, and Governance) management.

The '2020 Corporate Citizenship Report' released by POSCO on the 4th systematically presents the immediate challenges and response strategies for environmental protection, as well as corporate citizenship management achievements from the stakeholders' perspective.

Following last year, POSCO carefully reviewed the disclosure recommendations of international ESG standards such as the Task Force on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB) criteria, and reflected them in the report.

In particular, this year, POSCO specifically presented response strategies and mid- to long-term management goals for key ESG issues that stakeholders consider important, such as climate change response and strengthening workplace safety. It also added an ESG Factbook that organizes major performance data for each ESG area, the first in the domestic industry.

It is also notable that POSCO is the first domestic steel company to disclose ESG data covering overseas business sites according to SASB standards. In response to the growing demand for an 'integrated reporting system,' ESG performance and financial performance were also provided in an integrated manner.

In the CEO message, POSCO Chairman Choi Jeong-woo emphasized, “The upcoming era of great transformation is a time of rapid change where crisis and opportunity coexist, and the importance of ESG will be further highlighted. We will develop corporate citizenship management philosophy beyond internalization into a new corporate management model, continuously innovate, and establish ourselves as a leading company in ESG management in the steel industry.”

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