Posco Recognized for Sustainability Efforts
02/07/2012 - Posco was ranked 30th in the Global 100 Most Sustainable Corporations in the World recently announced by Corporate Knights, a Canadian economic magazine in the World Economic Forum in Davos, Switzerland.
Posco was ranked 30th in the Global 100 Most Sustainable Corporations in the World recently announced by Corporate Knights, a Canadian economic magazine in the World Economic Forum in Davos, Switzerland.
Since 2005, Davos forum has announced the 100 most sustainable corporations in the world every year based on the evaluations of sustainability research institutes across the world.
Posco notes that it was the only steel company on the list this year, and Posco and Samsung Electronics (ranked 73rd) were the only two Korean companies among the selected 100 most sustainable corporations. In 2010, Posco was ranked 93rd.
The top place was taken by Novo Nordisk, a Danish pharmaceutical company; of the Asian companies, Toyota Motor was the highest ranked at 21st, followed by Hitachi Chemical, which placed 28th.
The evaluation items for the global 100 consist of 11 main performance indicators, including diversity, safety efficiency, innovation competence through R&D investment, employment and maintenance of employment and improvement of energy, greenhouse gases and water resources efficiency.
Posco was highly evaluated for its increased sales, 20% up from the previous year, and the reduction of carbon dioxide emissions and water use every year. In addition, it has actively conducted activities to improve the added value of byproducts, such as utilizing slag to restore the sea from albinism, and has also been praised for its efforts regarding information transparency, such as publishing the Carbon Report each year since 2010.
Posco has published the Sustainability Report since 2004 and has been selected as an excellent global company on the SAM-Dow Jones Sustainability Indexes (SAM-DJSI) evaluation for seven consecutive years from 2005 through 2011.
