POSCO Future M publishes sustainability report

[Courtesy of POSCO Future M Co.]

POSCO Future M Co., a South Korean manufacturer of battery materials for electric vehicles, has published a sustainability report presenting its environmental, social, and governance (ESG) management strategies and achievements, the company said on Thursday.

Marking the 10th anniversary of the publication of its sustainability report, POSCO Future M identified the following core ESG issues: greenhouse gas reduction management, sustainable supply chain management, and promotion of a safety and health culture.

In the environmental sector, the company disclosed its updated carbon neutrality roadmap and the status of its efforts to preserve biodiversity.

POSCO Future M created a dedicated organization and developed a mid- to long-term roadmap to achieve carbon neutrality.

During the process, it updated its goals and action plans, considering domestic and international laws and regulations, market and technological development trends, customer requirements, and the implementation status within the industry.

The company also disclosed the results of its life cycle assessment (LCA) for product impact in line with the EU‘s battery-related legislation.

In the social sector, POSCO Future M explained that it has set the life and safety of all stakeholders, including employees, as its top core value and is strengthening its safety and health management.

Regarding governance, the company enhanced its responsible ESG management by reporting the results of a double materiality assessment, which analyzes both environmental/social and financial impacts, to the highest decision-making body, the board of directors.

“We are actively pursuing carbon neutrality activities that reflect market demands and business environments, and we have transparently disclosed our achievements in this report,” said the company’s President Yoo Byung-ok. “We will continue to strengthen our responsible ESG management centered on the top management, including the board of directors.”