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(Photo caption) POSCO Future M employees showcase the Sustainability Report published on the 20th, transparently disclosing ESG management strategies and achievements to stakeholders through tablets.
- Responding to advanced market demands by updating the carbon
neutrality roadmap and disclosing Life Cycle Assessment (LCA) results
- Reporting the results of the double materiality assessment that
identifies vital ESG issues to the board of directors
- President Yoo Byeong-og: "We will strengthen ESG responsible
management centered on the board of directors"
POSCO
Future M has published its Sustainability Report, transparently disclosing its
ESG management strategies and achievements to stakeholders.
Celebrating
the 10th anniversary of its Sustainability Report this year, POSCO Future M has
highlighted major sustainability activities and achievements for 2023 in this
report, identifying greenhouse gas reduction management, sustainable supply
chain management, and the spread of a safety and health culture as crucial
issues. These issues will be integrated into future sustainability management
strategies and KPIs and reflected in management activities.
In the
environmental (E) sector, the company disclosed its updated carbon neutrality
roadmap and measures to preserve biodiversity.
To achieve
carbon neutrality, POSCO Future M has established a dedicated organization,
formulated a mid-to-long-term roadmap, and updated goals and action plans by
considering Korea and international laws and regulations related to climate
change, market and technology development trends, customer requirements,
industry implementation status, and the company's business strategy linkage.
The company also disclosed its responses to the demands and regulations of
advanced environmental markets. In line with the EU's battery-related
legislation, POSCO Future M transparently disclosed its Life Cycle Assessment
(LCA) results, proactively addressing requirements for reducing product
environmental impact.
Additionally,
the company revealed various environmental impact reduction activities, such as
establishing biodiversity policies, deforestation prevention policies, sulfur
oxide reduction facilities, kiln fuel conversion, and automatic water quality
measurement devices at final discharge outlets. In 2022, POSCO Future M became
the first Korean battery material company to join the Taskforce on
Nature-related Financial Disclosures (TNFD), reinforcing its commitment to
biodiversity conservation.
In the
social responsibility (S) sector, POSCO Future M has prioritized safety and
health management by setting the life and safety of all stakeholders, including
employees, as its core value. The company supports establishing safety
management systems for suppliers in collaboration with external professional
evaluation agencies, resulting in a 52% reduction in the Lost Time Injury
Frequency Rate (LTIFR) for suppliers in 2023 compared to 2021.
* Lost Time
Injury Frequency Rate (LTIFR): Number of injuries per 1 million hours worked
Regarding
governance (G), POSCO Future M has elevated ESG responsible management by
reporting the double materiality assessment results, which analyze
environmental/social and financial impacts to identify key ESG issues, to the
board of directors. Since 2023, the company has also established and disclosed
an ESG policy book on its website. It was updated in May this year to enhance
stakeholder awareness of various ESG activities and their impacts, including
environment, ethics, human rights, and supply chain management.
President Yoo Byeong-og stated, "We have actively pursued carbon neutrality activities that reflect market demands and the management environment, transparently disclosing the achievements in this report," and emphasized, "We will further strengthen ESG responsible management centered on the board of directors and top management."
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(Photo caption) The Sustainability Report published by POSCO Future M on the 20th contains updated ESG strategies reflecting changes in the management environment and significant activities and achievements for 2023.