Posco

POSCO Climate Commitments and Emissions Overview

POSCO, a leading basic iron and steel producer headquartered in South Korea, is actively engaged in addressing its climate impact through ambitious reduction targets and transparent emissions reporting.

Emissions Data:

For the reporting year 2024, POSCO reported a significant total of approximately 92.17 billion kg CO2e in emissions. This figure is comprised of approximately 79.58 billion kg CO2e for Scope 1 and 2 emissions and approximately 12.59 billion kg CO2e for Scope 3 emissions.

A breakdown of their 2024 Scope 3 emissions reveals the following significant categories:

• Purchased goods and services: Approximately 4.90 billion kg CO2e
• Downstream leased assets: Approximately 1.94 billion kg CO2e
• Fuel and energy-related activities: Approximately 1.65 billion kg CO2e
• Use of sold products: Approximately 1.49 billion kg CO2e

In 2023, POSCO's total emissions were approximately 90.38 billion kg CO2e, with Scope 1 and 2 accounting for approximately 80.67 billion kg CO2e and Scope 3 for approximately 12.64 billion kg CO2e.

The company also reported Scope 1 and 2 emissions for previous years:

• 2022: Approximately 78.60 billion kg CO2e
• 2021: Approximately 86.84 billion kg CO2e (Scope 3 data was not disclosed for this year)
• 2020: Approximately 84.13 billion kg CO2e (Scope 3 data was not disclosed for this year)
• 2019: Approximately 80.26 billion kg CO2e, including approximately 13.14 billion kg CO2e for Scope 3.
• 2018: Approximately 78.50 billion kg CO2e, with Scope 3 emissions around 18.90 billion kg CO2e.
• 2017: Approximately 84.65 billion kg CO2e (Scope 3 data was not disclosed for this year).
• 2016: Approximately 70.37 billion kg CO2e, including Scope 3 emissions of approximately 7.55 billion kg CO2e.
• 2014: Approximately 89.15 billion kg CO2e, with Scope 3 emissions of approximately 17.93 billion kg CO2e.
• 2013: Approximately 86.77 billion kg CO2e, with Scope 3 emissions of approximately 17.52 billion kg CO2e.
• 2012: Approximately 89.36 billion kg CO2e, including Scope 3 emissions of approximately 1.03 billion kg CO2e.

Climate Reduction Initiatives:

POSCO has established a clear roadmap for decarbonisation, aiming for carbon neutrality by 2050. This long-term vision is supported by several interim targets:

• A 30% reduction in Scope 1 and 2 emissions by 2035, using a 2017-2019 baseline.
• A 50% reduction in emissions by 2040.
• An initial target of a 10% reduction at worksites and 10% reduction via avoided emissions by 2030, representing a total reduction of 20% from the 2017-2019 baseline.

These targets are aligned with the company's overall net-zero strategy and underscore their commitment to sustainable operations within the basic iron and steel industry.