POSCO's climate change action rated best

Posted on 12 October 2016

- UK-based CDP announced POSCO as No. 1 in steel industry
- World’s 14 steelmakers were assessed on 6 evaluation items
- POSCO is the only Korean company selected in different industries

POSCO was rated as the best in the ability to respond to climate change among all steelmakers in the world.

CDP, a global sustainability assessment authority, announced the 'CDP Steel Sector Report,' which evaluated 14 steelmakers in the world in terms of their performance in responding to climate change, and selected POSCO as the best-performing company. The CDP report comprehensively analyzed 6 items, i.e. Greenhouse gas emissions and energy management, Emission targets and plans, CO2 emissions costs, Low-carbon technology development, Water scarcity action and Climate change governance, and it is the first time ever that CDP announced the result of evaluating global steelmakers with regard to responding to climate change.

POSCO received an A grade on three items, i.e. Greenhouse gas emissions and energy management, Low-carbon technology development and Water scarcity action. It is believed that its efforts to reduce greenhouse gas emissions and energy basic units, commercialize FINEX, and develop technology for utilizing waste heat were recognized. Also, it appears that the presence of an organization dedicated to the environment and its efforts to develop future environment-friendly technologies were also highly rated. Following POSCO, Sweden’s Saab and Germany’s ThyssenKrupp also received high grades.

CDP is a non-profit organization established in UK in 2000. It requests major global corporations to disclose information on the environment, and has been publishing reports based on the analysis of such data every year. Last year, more than 5,600 global corporations were assessed, and the results are used by more than 800 financial institutions as a guideline on managing financial products and SRI(Socially Responsible Investment). CDP is recognized as the most reliable sustainability assessment authority in the world.

In particular, CDP has been assessing the performance of major global corporations in climate change response in different industries, i.e. automotive(two times), power, chemical, mining and cement, and announced the 'CDP Sector Report' and selected the best-performing companies since February 2015. Nissan in the automotive sector, DuPont in the chemical sector and Vale in the mining sector were selected as the best performers, but POSCO was the first Korean company to be selected as the best-performing company in the steel sector.

Meanwhile, POSCO has been listed as an excellent company on the 'Dow Jones Sustainability Indices' for 12 years in a row from 2005 to 2016, and listed on the Davos Forum list of 'Global 100 most sustainable corporations in the world' for 2 consecutive years in 2015 and 2016, and named the ‘most competitive steelmaker in the world’ by WSD (World Steel Dynamics), a global steel industry analyzer, for 9 consecutive times over the course of 7 years.

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