Posco Named to Dow Jones Sustainability Indexes
09/01/2005 - Posco was recently selected by Dow Jones and Swiss SAM (Sustainable Asset Management) as a leading company for sustainability in the steel industry.
Posco was recently selected by Dow Jones and Swiss SAM (Sustainable Asset Management) as a leading company for sustainability in the steel industry.
From the 2500 companies listed on the Dow Jones Sustainability Indexes (DJSI), Dow Jones and SAM recognize the companies ranked within the top 10% of each industry as leading companies in sustainability. Among 35 steelmakers listed on the steel industry's DJSI, Posco, Dofasco, and Arcelor were selected. Overall, 317 companies worldwide, including two Korean companies – Posco and Samsung SDI – were listed.
Sustainable management involves the pursuit of economic achievements, environmental soundness and social responsibility of the company, and is emerging as a new evaluation criterion to diagnose a company's long-term survival, growth and competency.
Posco's sustainable management program targets economical profitability, environmental soundness, and social responsibility. The company was recognized not only for its outstanding financial performance, but also for its efforts in making various improvements, including enacting a Corporate Governance Charter, improving corporate governance through the introduction of cumulative and documentary voting system, and implementing environment-friendly technology with Finex.
In the assessment, Posco was recognized for its coexistence system, in which interested parties can secure full-cash payments and a benefit sharing system for small- and mid-sized providers. Posco’s emphasis on ethical management and engagement in various social activities through the Posco Volunteers, were also highly praised.
Posco's effort to release its social, environmental, and financial achievements to interested parties by publishing an achievement report and having it authorized by an internationally recognized confidential organization was also praised.
Being selected as a DJSI company, Posco will enhance its corporate image as a leading global company with sustainability by using the original logo of DJSI throughout the duration of next year. Posco will also attract more long-term, stable, and sound investment sources, as DJSI is now being used as the standard index for Socially Responsible Investment worldwide. Socially Responsible Investment is an investment fund that supports sustainable development and was known to supply US $2,164 billion, EU 336 billion, and JP 599 million in 2003.