First Domestic Non-Financial Company
to Participate in Developing Financial Disclosure Standards for Biodiversity
Choi Jung-woo, Chairman of POSCO Group
"The First Step to Demonstrate Commitment to Biodiversity Conservation
We Will Continue to Strengthen the Group's ESG Management Execution"
[Asia Economy Reporter Jeong Dong-hoon] POSCO Holdings has joined the TNFD (Taskforce on Nature-related Financial Disclosures), which is creating standards for disclosing financial information related to biodiversity.
TNFD is a global consortium officially launched in June last year, led by the United Nations Development Programme (UNDP) and the World Wide Fund for Nature (WWF), to establish standards for financial information disclosure concerning biodiversity. Currently, over 420 companies and institutions, including BlackRock and BHP, participate. Among domestic companies, POSCO Holdings is the third to join after Woori Financial Group and KB Financial Group, and it is the first non-financial sector company to do so.
Choi Jeong-woo, Chairman of POSCO Group, stated, "Alongside responding to climate change, the importance of biodiversity is expanding. Joining TNFD marks the first step in publicly demonstrating POSCO Group’s commitment to biodiversity conservation. We will continuously enhance the execution power of POSCO Group’s ESG management."
Through joining TNFD, POSCO Holdings plans to participate in developing financial information disclosure standards related to biodiversity and strengthen biodiversity conservation activities near its business sites.
POSCO Holdings is currently discussing various measures with local governments to protect the endangered species "vicuna" living near the Ombre Muerto salt lake in Argentina. Starting this year, it will regularly inspect and manage the status and protection activities of flora and fauna near the salt lake and transparently disclose related information to stakeholders, thereby complying with TNFD guidelines.
Additionally, POSCO is leading marine ecosystem restoration through activities such as creating sea forests using artificial reefs called Triton and the Clean Ocean Volunteer Group that collects marine debris. POSCO Engineering & Construction has been promoting urban beekeeping projects since last year, operating the "Kkotbi (Bee) Village Beehive Garden," themed around honeybee and wild bee hives. POSCO International has obtained the RSPO (Roundtable on Sustainable Palm Oil), an international eco-friendly certification related to palm farms in Indonesia, and strictly adheres to environmental protection and community obligations throughout all stages of its palm business.
Starting this year, POSCO Group plans to focus on biodiversity, carbon neutrality, and safety as core agendas and aims to raise awareness and response capabilities to ESG issues through the Group ESG (Environment, Social, Governance) Council.
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