POSCO Energy Publishes 2020 Corporate Citizenship Report

Transparent Disclosure of ESG Management Activities Including Global Standards Such as TCFD and SASB

[Asia Economy Reporter Hwang Yoon-joo] POSCO Energy has published its 9th Corporate Citizenship Report on ESG (Environmental, Social, and Governance) management performance titled "Energy For A Better World."

POSCO Energy announced on the 10th that it has released the "2020 POSCO Energy Corporate Citizenship Report" on its website. This report contains the achievements made so far in addressing environmental and social issues, as well as the growth story of the company as a corporate citizen who communicates with stakeholders to consider various issues together.

In particular, POSCO Energy prepared the report by applying the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the standards of the Sustainability Accounting Standards Board (SASB) in the United States to ensure transparent disclosure that meets global standards.

TCFD and SASB are representative global standards recently gaining attention from stakeholders, including investment institutions. Companies include related indicators in their sustainability management reports and disclose them. TCFD recommends disclosure of information on four key elements related to climate change: governance, strategy, risk management, and quantitative metrics and targets. SASB presents important sustainability topics that may affect a company's financial performance by industry, enabling companies to manage and disclose them.

This report is structured according to the corporate citizenship management philosophy into ▲ Business (company’s business performance) ▲ Society (community communication) ▲ People (changes in working methods), explaining achievements in each area in an easy and concise manner centered on case studies. Especially, an Impact Story is organized on one page for each area so that stakeholders can view and understand the representative achievements at a glance.

Jung Ki-seop, CEO of POSCO Energy, stated, "Based on POSCO Group’s management philosophy of ‘Corporate Citizenship Growing Together,’ we aim to become a true corporate citizen communicating with stakeholders," adding, "We will set challenging goals and continue proactive execution for the company’s future and sustainable development."

This content was produced with the assistance of AI translation services.