Chairman Choi Jung-woo: "We Must Create the Group's Real Value Story Through Corporate Citizenship and ESG Management"

POSCO Holdings Establishes Group ESG (Environment, Social, Governance) Council

Choi Jung-woo, Chairman of POSCO Group, is holding the Group ESG Council meeting at the POSCO Center in Seoul on the 30th.

[Asia Economy Reporter Oh Hyung-gil] POSCO Holdings has established a Group ESG (Environment, Social, Governance) Council to further strengthen the group-wide management system for carbon neutrality, safety, and the environment.

On the 30th, the Group ESG Council was held at the POSCO Center in Seoul, attended by about 100 people both online and offline, including POSCO Group Chairman Choi Jeong-woo, representatives and executives of POSCO Holdings and major business subsidiaries, and heads of overseas branches.

The Group ESG Council was newly established to manage ESG issues within the group centered on POSCO Holdings following the launch of the holding company system, diagnose risk factors, derive countermeasures, and establish group ESG policies.

At the meeting, presentations were made starting with a special lecture by external experts on ESG management trends, ESG standards, and regulatory trends, followed by discussions on the concept of Real Value, the corporate citizenship management philosophy, POSCO's corporate citizenship promotion direction for 2022, the status of major corporate citizenship projects, the status of corporate citizenship promotion in major business subsidiaries, POSCO's carbon reduction strategy, and plans for publishing the corporate citizenship report.

Choi Jung-woo, Chairman of POSCO Group, is holding the Group ESG Council meeting at the POSCO Center in Seoul on the 30th.

POSCO shared its 2050 carbon neutrality promotion strategy through on-site reductions and social reductions, including the introduction of Carbon Capture, Utilization, and Storage (CCUS) technology, commercialization of hydrogen reduction steelmaking technology, and POSCO-style low-carbon product sales strategies. POSCO aims to achieve a 10% direct reduction at business sites and 10% social reduction by 2030, 50% reduction by 2040, and carbon neutrality by 2050.

Along with POSCO and POSCO Construction, major business subsidiaries such as POSCO International, POSCO Chemical, POSCO Energy, POSCO Steelion, POSCO ICT, and POSCO M-TEC also announced and committed to implementing the '2050 Carbon Neutrality Roadmap' through their corporate citizenship reports, establishing ESG policies with carbon neutrality, safety, and biodiversity as core agendas.

POSCO Group Chairman Choi Jeong-woo emphasized, "Through the ESG Council, we must work together to further raise the awareness and execution power of POSCO Group's ESG management. We need to create the POSCO Group's 'Real Value' story based on corporate citizenship and ESG management. Real Value management should become the new identity of POSCO Group."

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