POSCO FUTURE M Sustainability Profile
POSCO FUTURE M, a subsidiary of the renowned POSCO Group, is headquartered in South Korea (KR) and operates primarily in the advanced materials industry. Founded in recent years, the company has quickly established itself as a leader in the production of high-performance materials, particularly in the fields of lithium-ion batteries and eco-friendly solutions. With a focus on innovation, POSCO FUTURE M offers unique products that cater to the growing demand for sustainable energy solutions. Their core offerings include advanced cathode materials, which are essential for enhancing battery efficiency and longevity. The company’s commitment to research and development has positioned it as a key player in the global market, contributing to the transition towards greener technologies. Notable achievements include significant partnerships and advancements in battery material technology, solidifying its reputation as a forward-thinking enterprise in the energy sector.
DitchCarbon Score
How does POSCO FUTURE M's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Chemicals industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
POSCO FUTURE M's score of 24 is lower than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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POSCO FUTURE M's reported carbon emissions
In 2023, POSCO FUTURE M reported total carbon emissions of approximately 3.99 billion kg CO2e. This figure includes Scope 1 emissions of about 2.02 billion kg CO2e, Scope 2 emissions of approximately 366.8 million kg CO2e, and Scope 3 emissions totalling around 1.60 billion kg CO2e. The company has demonstrated a commitment to transparency in its emissions reporting, disclosing data across all three scopes. Comparatively, in 2022, the total emissions were significantly higher at approximately 10.81 billion kg CO2e, with Scope 1 at about 1.92 billion kg CO2e, Scope 2 at around 315.9 million kg CO2e, and Scope 3 emissions reaching approximately 8.58 billion kg CO2e. This indicates a substantial reduction in total emissions from 2022 to 2023. Despite these reductions, there are currently no specific reduction targets or climate pledges documented for POSCO FUTURE M. The company has not cascaded any Science-Based Targets initiative (SBTi) targets from a parent organisation, as it operates independently in this regard. Overall, POSCO FUTURE M's emissions data reflects a significant effort towards reducing its carbon footprint, although further commitments and targets would enhance its climate strategy.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 2,059,097,900 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 211,937,800 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | 0,000,000,000 | 0,000,000,000 |
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POSCO FUTURE M's Scope 3 Categories Breakdown
POSCO FUTURE M's Scope 3 emissions, which decreased by 81% last year and decreased by approximately 81% since 2022, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 40% of total emissions under the GHG Protocol, with "Fuel and Energy Related Activities" being the largest emissions source at 47% of Scope 3 emissions.
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POSCO FUTURE M's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
POSCO FUTURE M has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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