Corporate Citizenship Report

Global Initiative

UN Global Compact
United Nations Global Compact
POSCO is keenly aware that its sustainable growth depends on the sustainable development of society. As a member of the UN Global Compact (UNGC), POSCO endorses the Ten Principles of the UNGC in the areas of labor, human rights, the environment, and anti-corruption and presents its activities in relation to these ten principles through its Corporate Citizenship Reports.
UN SDGs
Sustainable Development Goals - 17 Goals To Transform Our World
The UN Sustainable Development Goals (SDGs) represent the global-level commitments that each and every member of the international community needs to fulfill to ensure sustainable development and growth.
We at POSCO wholeheartedly share the intention and the overarching goal of this global initiative, and we believe that the resolution of wide-ranging global challenges marks the starting point for any business to embark on innovation and transformation. POSCO’s actions taken to contribute to the attainment of the UN SDGs will be aligned with its sustainability management policy that is anchored on the three components of building trust with stakeholders, promoting operational accountability, and delivering sustainable solutions. In particular, we will undertake a range of activities in conjunction with stakeholders, including suppliers, customers, and society, in order to achieve the UN SDGs.
DJSI Assessment
ROBECO SAM Sustainability Award Gold Class 2018
POSCO has been listed on the RobecoSAM Dow Jones Sustainability Index (DJSI) since 2003, and fully discloses the details on DJSI assessments in its Corporate Citizenship Reports. POSCO was listed in the steel sector of the DJSI World in 2019, and received a Bronze Class distinction in the SAM Sustainability Yearbook 2020 for its excellent sustainability performance.
CDP Assessment
CDP
As a participant in the Carbon Disclosure Project (CDP), POSCO is making progress on its sustainability performance in the areas of climate change response and water resources, among others. In the annual CDP Climate Change survey performed in 2019, POSCO received an ‘A’ rating and was listed on the Carbon Disclosure Leadership Index, and graded B in the 2019 CDP Water Security survey.
Climate Change Response - through the Task Force on Climate-related Financial Disclosures (TCFD)
TCFD Task Force on Climate-Related Financial Dislosures
POSCO is taking a step ahead in its response to and preparation for business risks and opportunities brought on by climate change. POSCO became the first-ever Korean manufacturing business to announce its endorsement for the Task Force on Climate-related Financial Disclosures (TCFD) in March 2020, and is making preparations to deliver its own TCFD report.
By setting GHG emission mitigation targets and developing GHG mitigation technology, POSCO is taking the lead in responding to climate change.
Disclosure of Sustainability Performance in Accordance with SASB Standards for Iron & Steel Producers
SASB Sustainability Accounting Standards Board
POSCO promotes the transparent management of sustainability indicators that reflect the specificities of the steel industry. In 2020, POSCO disclosed data that bears financial significance to the Company in accordance with the Sustainability Accounting Standards Board (SASB) standards for Iron & Steel Producers through its ‘Corporate Citizenship Report 2019’
Evolution into Responsible Mineral Sourcing
Responsible Minerals Initiative
POSCO takes no part in purchasing cobalt, which is a conflict mineral, and the Company clearly recognizes the importance of responsible mineral sourcing. As POSCO is more than willing to join the international community in tackling this critical issue, the Company has set the ‘improvement of the conflict mineral and responsible mineral management system’ as one of its Corporate Citizenship action tasks and is working to reflect the concept of ‘responsible mineral sourcing’ in its conflict mineral management system. To this end, POSCO joined the RMI, a key NGO working in relation to responsible mineral sourcing, in April 2020, and will create a consultative body with its major group affiliates to jointly respond to responsible mineral sourcing.
References about
Global Initiatives
Contribution to the SDGs
Flagship Corporate Citizenship Projects