POSCO Energy Publishes 8th Corporate Citizenship Report

[Asia Economy Reporter Hwang Yoon-joo] POSCO Energy published the 2019 Corporate Citizenship Report, highlighting the major achievements in practicing the corporate citizenship management philosophy over the past year.

POSCO Energy has been publishing the 'Sustainability Management Report' since 2012, the first among private power generation companies, to transparently communicate sustainability management performance and engage with stakeholders. Since last year, the report was renamed the 'Corporate Citizenship Report' to reflect POSCO Group's management philosophy of 'Growing Together as a Corporate Citizen,' and this year marks the release of the eighth report.

The Corporate Citizenship Report published this year adopts a horizontal format to enhance readability on the web. It is divided into a 'General Reader Section,' composed using storytelling techniques considering various stakeholders, and an 'Expert Section,' which professionally details ESG (Environmental, Social, Governance) information and performance.

The General Reader Section is organized in a magazine style for easy and intuitive understanding, divided into ▲ business structure reorganization ▲ expansion of environmental and social values ▲ work-life balance, explaining POSCO Energy’s major projects, social contribution activities, and organizational culture.

The Expert Section provides a more professional analysis of achievements in the business, society, and people aspects, which are the areas of corporate citizenship management philosophy practice. The business area covers progress in power generation, gas, and renewable energy projects, as well as the company’s efforts to respond to the new climate regime and the changing energy paradigm. The society area includes the 'Energy Dream' social contribution achievements, which proactively address climate change and share environmental values with future generations. The people area details efforts to create a happy workplace through family-friendly management, such as expanding workplace daycare centers to address low birth rates and operating flexible work systems.

In particular, this year’s report specially includes various activities undertaken for proactive response to the novel coronavirus disease (COVID-19). It highlights crisis overcoming efforts such as emergency drills conducted to ensure the safety of the 24-hour operating power plants, remote work, and operation of quarantine testing sites, as well as social contribution activities targeting local communities suffering from COVID-19.

Jung Ki-seop, CEO of POSCO Energy, stated through the Corporate Citizenship Report, “POSCO Energy will not passively follow changes in systems or environments but will become a company that proactively and actively proposes solutions in all aspects of business, society, and people as a corporate citizen that composes society.”

Meanwhile, in January this year, POSCO Energy established the dedicated organization ‘Corporate Citizenship Secretariat’ to internalize and practice the corporate citizenship management philosophy, systematically manage ESG performance, and reorganize the social contribution system, continuously striving for sustainable management of the company.