POSCO International Publishes First 'Corporate Citizenship Report' Since Launch of Integrated Corporation

POSCO International published its first Corporate Citizenship Report on the 11th since launching the integrated corporation earlier this year. The report aims to communicate the company's vision and sustainable future strategy direction.

Through this report, POSCO International included efforts to address environmental and social issues along with the core business strategies based on the new vision of the integrated corporation, "Green Energy & Global Business Pioneer." ESG (Environmental, Social, and Governance) management indicators and content related to the energy business were also strengthened.

POSCO International Corporate Citizenship Report Cover
[Source=POSCO International]

POSCO International newly established pages explaining its three core businesses (Energy, Materials, Agri-Bio) in this report. First, the energy sector focuses on completing the LNG value chain to create synergy in upstream and downstream linked businesses. The strategy is to lead the "future green energy business" by expanding offshore wind power in cooperation with advanced overseas companies and gradually promoting the hydrogen ammonia business.

In the materials sector, the company aims to optimize the global network for steel trading and strengthen its role as a procurement channel for secondary battery raw materials and materials for group companies. Additionally, it envisions leading the steel market in eco-friendly growth industries such as wind and solar power steel and growing into a "core component manufacturer for eco-friendly future vehicles' drivetrains."

Next, in the Agri-Bio field, the report introduces the company's efforts to transform into a comprehensive food business company by expanding the food value chain. It also details the company's role as a "discoverer of new growth momentum for the group," aiming to create a new industrial ecosystem in bio and new businesses.

POSCO International prepared the report by applying the IFRS (International Financial Reporting Standards) sustainability disclosure standards to proactively respond to the international trend of mandatory ESG information disclosure. In particular, it disclosed the results of estimating the financial impact of physical risks from climate change on major overseas business sites by reflecting the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures).

Jung Tak, Vice Chairman of POSCO International, emphasized, "Based on the corporate citizenship management philosophy, we will become an ESG-leading company that spreads positive influence in our society."

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