HOME Sustainability ESG Strategy
Overview
ESG Principles
Five ESG Strategies
G
Green
Competency
R
Responsible
Value Chain
E
Employee
Happiness
E
Ethics &
Integrity
N
New
Governance
ESG Strategy
POSCO Group defines ESG management as minimizing environmental impact, building a sustainable society, and advancing governance. These commitments anchor the G.R.E.E.N. framework which is built around five strategic pillars.
G
Green Competency
We will enhance energy efficiency over conventional methods and adopt technologies that progressively reduce process-level GHG emissions to cope with climate challenges. Throughout this process, we will take a structured, lifecyclealigned approach to managing and mitigating environmental impact.
R
Responsible Value Chain
We will foster collaboration and support throughout the value chain to ensure POSCO Group's business partners continue to strengthen their capabilities in key ESG areas, including low-carbon technology, human rights, and safety.
E
Employee Happiness
With commitment to create a vibrant and safe workplace, we intend to build a corporate culture that values human rights and diversity and trains creative talent to drive a rapidly changing world.
E
Ethics & Integrity
To maintain the highest ethical standards in all business decision-making processes, we will continue to enhance ethics and compliance practices and promote fair trade.
N
New Governance
We will uphold the independence, expertise and diversity of the Board of Directors. Additionally, by prioritizing shareholder rights and transparency, POSCO Group will generate Real Value and reach new heights.
ESG Risk Management
| Category | Attendees | Key roles |
|---|---|---|
|
ESG Session (Annual) |
· Board of Directors (all outside directors and inside directors) · CEOs of key operating companies |
· Discuss Group’s mid/long-term ESG management strategy directions · Discuss Group’s pending ESG issues |
|
ESG Committee (year-round) |
· 3 Outside Directors, 1 Inside Director |
·Establish Group-wide ESG strategies, policies, and management systems ·Regularly review ESG issues and discuss response measures with the management of key operating companies ·Publish POSCO Holdings Sustainability Report and communicate with investors |
|
Group ESG Council (Semi-annual) |
·CEO of POSCO Holdings · CEOs of the 4 key operating companies ·Holding company executives: Heads of the Corporate Strategy Division, Business Synergy Division, Finance & IR Division, Corporate Compliance Division, and Corporate Support Division (15 executives in total), and Head of Corporate Strategy Office (Secretary General) |
· Review low carbon policies and safety/environmental/health plans of the operating company ·Review/discuss implementation status and ESG issues of each operating company ·Report consultation to the ESG Committee and/or Committee of the holding company |
|
Group ESG Working level Committee (Semi-annual) |
·Corporate Strategy Office of the holding company ·Strategy organization from 10 operating companies |
·Share and discuss responses to ESG issues relevant to each operating company
·Assist to upgrade ESG response capabilities and respond jointly to ESG assessment of operating companies |
Agenda for 2024 Group ESG Council & ESG Session Meetings
| Event | Date | Agenda |
|---|---|---|
|
Group ESG |
May. 9, 2024 |
·Eco-friendly financial KPI management strategy that aligns with EU taxonomy ·POSCO’s rolling roadmap toward carbon neutrality ·2023 Sustainability Report publication plan ·POSCO International’s progress in improving ESG issues at the Indonesian palm plantation |
|
ESG Session |
Jul. 23, 2024 |
·Global ESG trends and the role and response of businesses ·Eco-friendly financial KPI management that aligns with EU taxonomy ·Updates on the implementation of hydrogen reduction ironmaking and carbon reduction technologies |
|
Group ESG |
Sep. 24, 2024 |
·Examples of POSCO’s response to regulations against potential greenwashing ·POSCO’s operational plan for the internal carbon pricing system ·Group-wide RE100 response strategy |