POSCO Future M Publishes Sustainability Management Report Detailing ESG Achievements from Last Year

CEO Byungok Yoo: "ESG Responsible Management Centered on the Board of Directors"

POSCO Future M published its Sustainability Management Report on the 20th, revealing its environmental, social, and governance (ESG) management strategies and achievements from the previous year.

In this report, POSCO Future M identified ▲greenhouse gas reduction management ▲sustainable supply chain management ▲and the spread of safety and health culture as key issues.

POSCO Future M employees are presenting the sustainability management report through tablets.
[Photo by POSCO Future M]

In the Environmental (E) sector, the company disclosed the latest carbon neutrality roadmap along with its response status for biodiversity conservation. It established a dedicated organization for achieving carbon neutrality, updated its mid- to long-term roadmap, goals, and execution plans. Additionally, in accordance with the European Union (EU) battery-related legislation, it proactively reflected the requirements to reduce the environmental impact of products by disclosing the results of a full lifecycle impact assessment.

Furthermore, the company revealed environmental impact reduction activities such as the newly established biodiversity policy and deforestation prevention policy from last year, installation of sulfur oxide reduction facilities, fuel conversion for the roasting furnace, and installation of automatic water quality measuring devices at the final discharge point.

In the Social Responsibility (S) sector, POSCO Future M has set the life and safety of all stakeholders, including employees, as the top core value and is strengthening safety and health management. It supports the establishment of safety management systems for suppliers in cooperation with external professional evaluation agencies, resulting in a 52 percentage point decrease in the Lost Time Injury Frequency Rate (LTIFR) of suppliers in the previous year compared to 2021. LTIFR refers to the number of injuries per one million hours worked.

From the Governance (G) perspective, the company advanced ESG responsible management by reporting the results of a double materiality assessment?which analyzes both environmental/social and financial impacts?to the board of directors, the highest decision-making body, to identify key ESG issues. Since last year, it has also established an ESG policy book and made it publicly available on its website.

Yoo Byung-ok, CEO of POSCO Future M, stated, "We are actively carrying out carbon neutrality activities that reflect market demands and the management environment, and we have transparently disclosed these achievements in this report. We will further strengthen ESG responsible management centered on the board of directors and top management."

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