Posco E And C

POSCO E&C, a South Korean construction company, reported total Scope 1, 2, and 3 emissions of approximately 3.307 billion kg CO2e in 2023. This included Scope 1 emissions of 8,867,000 kg CO2e, Scope 2 emissions of 40,201,000 kg CO2e, and Scope 3 emissions of 3,255,792,000 kg CO2e. Key contributors to Scope 3 emissions were the use of sold products (1,583,296,000 kg CO2e) and purchased goods and services (1,635,110,000 kg CO2e).

In 2022, POSCO E&C's Scope 1 emissions were 5,359,000 kg CO2e, Scope 2 emissions were 36,092,000 kg CO2e, and Scope 3 emissions amounted to 3,230,543,000 kg CO2e. For 2021, the company reported Scope 1 emissions of 6,560,000 kg CO2e, Scope 2 emissions of 36,586,000 kg CO2e, and Scope 3 emissions of 1,108,020,000 kg CO2e. In 2020, Scope 1 emissions were 6,200,000 kg CO2e, Scope 2 emissions were 41,682,000 kg CO2e, and Scope 3 emissions were 14,570,000 kg CO2e.

POSCO E&C has set ambitious climate commitments, with Science Based Targets initiative (SBTi) approved targets. The company commits to reduce absolute Scope 1 and 2 greenhouse gas emissions by 42% by 2030, using 2022 as the base year. Additionally, it aims to reduce absolute Scope 3 greenhouse gas emissions by 25% within the same timeframe, specifically targeting emissions from purchased goods and services, upstream transportation and distribution, employee commuting, use of sold products, and investments. These targets are consistent with reductions required to keep warming to 1.5°C.

The company's plan for achieving Carbon Neutrality by 2050 includes a near-term target to reduce greenhouse gas emissions by 25% by 2030 compared to its 2022 baseline. Strategies to achieve this include expanding renewable energy businesses, improving energy efficiency, and reducing Scope 3 emissions across its supply chain.