POSCO Selected as Korea's First World Steel Association Sustainability Champion Member

Highest Honor in ESG Field... Recognized as a Leader in Sustainability
Chairman Choi Jung-woo Discusses Current Issues Including Carbon Reduction Technology Development

[Asia Economy Reporter Oh Hyung-gil] POSCO has been selected as the Best Sustainability Member by the World Steel Association.

On the 11th (Korean time), at the semi-annual regular meeting held in London, UK, the World Steel Association selected 10 companies leading sustainability in the steel industry among over 140 member companies as Best Members.

POSCO was the only newly selected company this year. Among the 15 Best Members selected last year, 6 companies were dropped and 9 companies were reselected.

To become a Best Member, companies must meet conditions such as being selected as an excellent sustainability member, being a finalist for the Steelie Awards, publishing a sustainability report, submitting sustainability data, and submitting carbon emission data by material and process. It is the highest honor in the steel industry recognized as a model case of ESG (Environmental, Social, and Governance) management.

POSCO not only met all five conditions but was also recognized for its efforts and achievements in ESG management, including the declaration of 2050 carbon neutrality, establishment of a dedicated ESG organization, and building advanced governance.

Choi Jeong-woo, Chairman of POSCO Group, who was appointed Vice Chairman of the World Steel Association last October, attended the Executive Committee, the highest decision-making body, held during the regular meeting. The Executive Committee, composed of representatives from 16 global steel companies, discussed major issues faced by steel companies worldwide, such as joint development of carbon reduction technologies, development of future mobility steel solutions, and the impact of global infrastructure investment trends on the steel industry.

Chairman Choi proposed the formation of a consortium under the World Steel Association to achieve the global issue of carbon neutrality and the joint development of carbon reduction technologies in the steel industry, gaining consensus from the committee. Starting this October, Chairman Choi will represent the global steel industry as the President of the World Steel Association.

Chairman Choi said, "This is the fruit of POSCO Group's relentless efforts for carbon neutrality and eco-friendly future material development," and added, "Based on the corporate citizenship management philosophy, we will lead the global trends in ESG management and sustainability in the steel industry."

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