POSCO Selected as World Steel Association's 'Sustainability Excellence Member' for Two Consecutive Years

Association Member Company Meeting in Vienna, Austria

POSCO was selected as the Sustainability Champion for the second consecutive year at the World Steel Association's mid-year member meeting held on the 18th (local time) in Vienna, Austria.

Since 2018, the World Steel Association has annually selected leading companies in carbon neutrality and ESG within the steel industry as Sustainability Champions from among approximately 140 member companies. This year, 10 companies were named Sustainability Champions. POSCO was selected as a Sustainability Champion again this year, following last year.

To become a Sustainability Champion, four conditions must be met: selection as an Excellent Sustainability Member, final nomination for the Steelie Awards or Safety & Health Recognition, publication of a sustainability report, and submission of sustainability data including carbon emissions data by material and process. Because of this, steel companies selected as Sustainability Champions are recognized as exemplary global ESG management cases.

POSCO has been selected as the World Steel Association's Sustainability Top Member for two consecutive years. On the 18th (local time) in Vienna, Austria, Edwin Basson, Secretary General of the World Steel Association, presented the Sustainability Top Member plaque to Chey Jong-woo, Chairman of POSCO Group (left).
[Photo by POSCO Group]

POSCO fulfilled all four conditions mentioned above. Additionally, its efforts and achievements in ESG management, such as joint development of hydrogen reduction steelmaking, the 2050 carbon neutrality declaration, and establishment of advanced governance, were recognized, leading to its selection as a Sustainability Champion for two consecutive years.

Choi Jeong-woo, Chairman of POSCO Group, said, “This is the result of our prompt response to the demands for carbon neutrality and ESG management to overcome the climate crisis,” adding, “We will take the challenging task of carbon neutrality as an opportunity for growth and lay the foundation for a 100-year company that continues to grow as a leading eco-friendly future materials company.”

Meanwhile, Kim Gwan-hyung, Deputy Manager of the Steelmaking Department at POSCO Gwangyang Steelworks, won second place in the ‘SteelChallenge-17: Steelmaking Process Competition’ held by the World Steel Association on the 18th. The ‘SteelChallenge’ is a competition held annually since 2005 by the World Steel Association for steel engineers worldwide, where participants simulate methods to produce steel at the lowest cost within given conditions and time.