POSCO FUTURE M : Achieves A Grade in ESG Evaluation

POSCO FUTURE M Achieves A Grade in ESG Evaluation

2023.10.27

• (Photo Description) Since 2013, POSCO FUTURE M has been running the Green Dream Environment School to raise awareness among children about the importance of energy and environmental conservation.

- Upward movement observed in Environmental (E), Social (S), and Governance (G) sectors.
- Roadmap towards carbon neutrality by 2050 clarified; expansion of greenhouse gas reduction metrics.
- Adoption of responsible minerals for anode and cathode materials; establishment of an enterprise-wide compliance management system.

POSCO FUTURE M has received an integrated A grade in the 2023 ESG evaluation by the Korea Institute of Corporate Governance and Sustainability, marking an improvement from the previous year.

Korea Institute of Corporate Governance and Sustainability, a principal domestic ESG evaluation agency, annually assesses the sustainability management level of Korean listed companies in environmental, social, and governance sectors and announces their ESG ratings.

In this assessment, POSCO FUTURE M achieved an A grade in the Environmental (E) and Governance (G) domains. Notably, the company received an A+ grade in the Social (S) domain, elevating one or two steps from the previous year across all sectors, culminating in the integrated A grade.

This year, in the environmental domain, POSCO FUTURE M has detailed its roadmap to achieve carbon neutrality by 2050, emphasizing the increased utilization of renewable energy and the introduction of high-efficiency facilities. Moreover, the company has broadened its greenhouse gas reduction metrics, extending from the current direct and indirect emissions (Scopes 1 and 2) to include indirect emissions from business activities such as subcontractors and logistics systems (Scope 3).

In the social sector, the company has offered consultancy to strengthen ESG capabilities to its suppliers and has expanded its supply chain, focusing on social enterprises and green-certified companies. The primary raw materials for their cathodes and anodes utilize responsible minerals certified free from human rights violations.

Regarding governance, last year, POSCO FUTURE M obtained the international standard for information security management, ISO27001, establishing a security and management system to protect core technologies. In September of this year, the company became the first in the domestic battery material industry to acquire the international standard for compliance management systems, ISO 37301, setting up a company-wide compliance management system.

POSCO FUTURE M is committed to enhancing its tangible and objective ESG capabilities that are paramount to global stakeholders. This commitment is in tandem with its plans to expand business collaborations through significant supply contracts with global battery and automaker companies and establish overseas joint ventures.

• (Photo Description) Since 2013, POSCO FUTURE M has been running the Green Dream Environment School to raise awareness among children about the importance of energy and environmental conservation.

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