WORLD HEADLINESWorld
Green Initiatives Discussed at Posco Meeting
Aug. 25, 2010 Posco recently held its first Posco Family Green Growth Committee meeting to check the current status and pending plans for its “green” projects and to prepare countermeasures to greenhouse gas regulations.
Nine Posco executives in technology, investment, and research areas, including Committee Chair Joonyang Chung, as well as 11 representatives from affiliates, attended the committee meeting.
Posco plans to continuously develop low-carbon steel technologies, and 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 are also developing a new green growth business around SMART nuclear reactors, smart grids, LED, and fuel cells.
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 affiliates strategically pursue green growth initiatives. The office centers on response to climate change, low carbon steelmaking technology, and renewable energy subcommittee.
Posco Family plans to establish the 2018 Green Growth Master Plan, for which the company will invest 7 trillion KRW until 2018 to achieve 10 trillion KRW in annual sales and to reduce CO2 emission units by 9% by 2020.