POSCO Holdings Holds First Board ESG Session... Discusses Group-Level Strategy

[Asia Economy Reporter Donghoon Jeong] POSCO Holdings announced on the 14th that it held its first ESG session targeting the board of directors and representatives of major business subsidiaries to review the group's ESG (Environmental, Social, Governance) management status and discuss strategic directions.

On the 12th, POSCO Holdings held the ESG session at the POSCO Center in Gangnam-gu, Seoul, with about 20 attendees including Kim Sung-jin, chairman of the board, outside directors, Choi Jung-woo, chairman of POSCO Group, Kim Hak-dong, vice chairman of POSCO, and Jeon Jung-sun, president of POSCO Holdings.

Starting this year, POSCO plans to hold an annual ESG session involving internal and external directors of POSCO Holdings and representatives of major business subsidiaries to discuss group-level ESG management strategies and response measures. The first session consisted of presentations and discussions on ESG topics by major business subsidiaries such as POSCO, POSCO International, and POSCO Chemical.

POSCO introduced plans to establish a low-carbon product supply system to respond to carbon reduction regulations in advanced countries such as the United States and the European Union (EU), as well as the current status of hydrogen reduction steelmaking technology development. POSCO Chemical discussed measures to reduce carbon emissions during manufacturing processes, expand renewable energy, and increase equipment efficiency to achieve carbon neutrality by 2050.

Additionally, POSCO presented the status of safety activities, and POSCO International introduced social issues and response progress at overseas business sites, showcasing achievements in the social (S) area. Regarding governance (G), POSCO Holdings reviewed its ESG management level based on evaluation indicators from global ESG rating agencies and discussed future improvement directions. Furthermore, through a special lecture by Professor Jeon Gyu-an of Soongsil University, recent trends in sustainability information disclosure and corporate response measures were examined.

Chairman Choi Jung-woo stated, "Companies that do not consider ESG will find it difficult not only to attract investment but also to survive," adding, "Based on the discussions, we must systematically establish and implement group-level ESG strategies on key stakeholder concerns such as carbon neutrality and biodiversity."