Aug 2 2010
The first POSCO Family Green Growth Committee meeting was held at POSCO Center on July 23rd, to check the current status and pending plans for its green growth projects and to discuss ways to prepare countermeasures to greenhouse gas regulations at home and abroad.
9 POSCO executives in technology, investment, and research areas including Committee Chair Joonyang Chung, as well as 11 representatives from affiliates have attended the committee meeting to seek ways to cooperate for green growth agenda of POSCO Family.
Through continuous development of low-carbon steel technologies, POSCO Family has its goal of CO2 emissions for the first half of 2010, and plans to devise a greenhouse gas energy inventory by the second half of the year in response to the MBO (Management by Objective) for Greenhouse Gas Energy which is expected to start by 2012.
POSCO, POSCO E&C, POSCO ICT, and POSCO Power is developing a new green growth business around SMART nuclear reactors, smart grids, LED, and fuel cells, and plan to create new growth engine by meeting the master plan based on long-term investments.
Furthermore, the company is playing a role in carbon reduction and cost reduction by converting by-products into materials, greenery on POSCO plant, and through green procuring and green logistics. POSCO is strengthening its leadership in the low-carbon green growth by enhancing outside networks.
In a critique, CEO Joonyang Chung emphasized that, "POSCO should recognize low-carbon green growth as the new big story and paradigm of the 21st century, and use this to realize the ideals of POSCO 3.0. Let's expand low carbon green growth to the new business area and create synergy with a stronger POSCO Family management."
The Green Growth Promotion Executive Office, newly created under the direct supervision of the CEO in February 2009, formed the POSCO Family Green Growth Committee to help POSCO and the affiliates strategically pursue green growth at. The office declared 'Global Green Growth Leader' as its vision, centered on response to climate change, low carbon steelmaking technology and renewable energy subcommittee.
POSCO Family plans to establish the 2018 Green Growth Master Plan, where the company will invest 7 trillion KRW until 2018 to achieve 10trillion KRW in annual sales, and to reduce CO2 Emission Units by 9% by 2020.
Source: http://www.posco.com/