Climate Change: POSCO International Aims to Go Carbon Neutral by 2050
Key Highlights :
As the world grapples with the global climate crisis, POSCO International is taking a proactive stance to become an environmentally sustainable business. The commodities trading unit of the Korean steel giant POSCO Holdings announced on Sunday that it is aiming to go completely carbon neutral by 2050.
To reach this ambitious goal, POSCO International has laid out a long-term plan to reduce carbon emissions by 37 percent by 2030. This plan includes switching the liquefied natural gas (LNG) used for electricity generation at its Incheon factory to hydrogen, as well as actively using carbon capture and storage (CCS) technologies.
The company is also looking to expand its renewable energy businesses, particularly wind power. To this end, the company plans to build a 300-megawatt offshore wind power plant complex in the southwestern county of Sinan by 2027, with a goal to boost its wind power generation capacity to 2 gigawatts by 2030 and to 2.5 gigawatts by 2050.
POSCO International’s efforts to reduce carbon emissions and become carbon neutral by 2050 are a welcome step in the right direction. It is hoped that other companies will follow suit and take similar measures to combat climate change. With concerted efforts from all stakeholders, it is possible to make the world a greener and more sustainable place.
