POSCO E&C Awarded CDP 'Carbon Management Sector Honors'

by Roh Kyungjo

Published 13 Mar.2024 09:33(KST)

POSCO E&C announced on the 13th that it received the 'Carbon Management Sector Honors' award in the industrial goods category at the '2023 CDP Korea Awards Ceremony' hosted by the global sustainability management evaluation organization, the Carbon Disclosure Project (CDP).

POSCO E&C Songdo Building / Photo by POSCO E&C

CDP is an international non-profit organization headquartered in the United Kingdom. It is a global initiative that requests and evaluates management information related to climate change response, such as corporate governance, risk and opportunity management, carbon neutrality strategies, and carbon reduction, targeting major listed and unlisted companies. More than 23,000 companies worldwide participate, and the collected information for each company is used by financial institutions for investment and lending decision-making.

The Carbon Management Sector Honors awarded to POSCO E&C is given to outstanding companies in nine industry sectors including industrial goods, finance, consumer goods, energy, raw materials, and information technology (IT). POSCO E&C participated in the CDP evaluation for the first time in 2022 and has achieved the leadership grade (A-) for two consecutive years through this year. Additionally, POSCO E&C explained that it was selected as an awardee in recognition of its excellence in carbon management activities and climate change response capabilities, including ▲establishing a short-term carbon reduction target for 2030 through the Science Based Targets initiative (SBTi), ▲promoting climate change adaptation strategies considering the characteristics of the construction industry, ▲developing low-carbon construction methods and technologies, and ▲operating the carbon neutrality council (P-GRT) with stakeholders.

It was also stated that POSCO E&C is actively implementing the '2050 Carbon Neutral Strategy' established in 2021, the first in the construction industry. To achieve the carbon neutrality goal, the company introduced an energy management system and obtained the 'ISO50001' energy management system certification from Lloyd's Register. As a result, it was selected for the United Nations Global Compact (UNGC) Lead Group in 2024, demonstrating leadership across environmental, social, and governance (ESG) areas including carbon neutrality and human rights management.

A POSCO E&C official said, "We will continue our efforts to contribute to building an eco-friendly society and create new business opportunities."