POSCO Future M Receives 'Very Excellent' Grade in 2024 ESG Evaluation

One Grade Higher Than Last Year

POSCO Future M announced on the 25th that it received an integrated A+ (Very Excellent) rating, one level higher than last year, in the 2024 ESG (Environmental, Social, Governance) evaluation conducted by the Korea ESG Standards Institute.

POSCO Future M received an integrated A rating last year, which was one level higher than the previous year, and this year the rating rose again to achieve an integrated A+ rating. By category, the Environment (E) sector received an A+ rating, one level higher than the previous year. The Social (S) and Governance (G) sectors received the same A+ and A ratings as last year, respectively.

Solar power generation facility installed at POSCO Future M's anode material factory in Gwangyang, Jeonnam to expand the production and use of renewable energy.
[Photo by POSCO Future M]

To strengthen environmental management, POSCO Future M is expanding the use of renewable energy and introducing high-efficiency facilities based on its 2050 carbon neutrality implementation roadmap. In April, it obtained the 'ISO 14067' carbon footprint verification certificate from the Korea Quality Foundation, confirming that the carbon emissions of its anode and cathode products are calculated according to international standards.

On the social front, POSCO Future M is building a sustainable raw material supply chain based on a responsible minerals policy that preemptively checks issues such as human rights violations, environmental destruction, and funding inflows to conflict groups. By supporting the establishment of a safety management system for suppliers, the supplier lost time injury frequency rate (LTIFR) decreased by 52% in 2022 compared to 2021.

Furthermore, to improve governance, POSCO Future M is establishing a sound internal control system through the independent operation of audit organizations. It operates a process of reporting and obtaining approval for key ESG management issues to the board of directors, the highest decision-making body, thereby enhancing responsible management.

Going forward, POSCO Future M plans to further enhance corporate sustainability by strengthening compliance-based management activities that adhere to laws and regulations and actively promoting the internalization of ESG management mindset among its executives and employees.