POSCO Inter, Declares 'Carbon Neutrality by 2050'... 37% Reduction by 2030

POSCO International has officially declared its commitment to achieving 'Carbon Neutrality by 2050.'

According to POSCO International on the 2nd, before ultimately realizing carbon neutrality by 2050, the company has set an interim goal to reduce carbon emissions by 37% by 2030.

Carbon reduction will proceed in two directions: 'direct reduction,' which reduces carbon emissions during major business processes such as power generation, and 'indirect reduction,' which involves expanding renewable energy power generation facilities.

For direct reduction, POSCO International will sequentially convert the 3.4GW (gigawatt) liquefied natural gas (LNG) power generation at its major domestic power plant, Incheon Combined Cycle Power Plant, to hydrogen co-firing and full combustion methods.

Additionally, to reduce residual carbon emissions from the power plant, the company plans to actively apply carbon capture and storage (CCS) technology.

To safely store the captured carbon, POSCO International intends to establish large-scale CCS storage facilities that isolate and confine carbon in the atmosphere, focusing on domestic and Southeast Asian offshore areas.

Regarding indirect reduction, POSCO Group will significantly expand renewable energy projects such as wind power as part of its RE100 (Renewable Energy 100) initiative. In addition to the currently operating 14.5MW (megawatt) solar power and 62.7MW onshore wind power in Sinan, Jeonnam, the company plans to secure a total of 2.5GW of new capacity through offshore wind projects by 2050.

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