POSCO tops CSR ranking in China

By Lee Hyo-sik

POSCO was rated as the most socially responsible entity among steelmakers operating in China, it said Sunday.

Korea’s largest steelmaker earned 80.6 points out of 100 in the corporate social responsibility (CSR) assessment, conducted by the Chinese Academy of Social Science (CASS). POSCO said the score is the highest among steel and other metal processing firms active in the world’s second-largest economy.

Among 300 businesses included in the CASS evaluation, the company ranked 32nd.

“It is meaningful that we have been recognized for a range of CSR activities we have implemented in China over the years,” a POSCO official said. “Our employees will make more efforts to identify the needs of local communities and launch community-specific volunteer activities to help people in need.”

For instance, POSCO China and other affiliates raised significant amounts of money to support earthquake victims in the Sichuan Province in 2008. In June this year, the steelmaker received an appreciation plaque from China’s Red Cross for its continuing efforts to improve the livelihoods of the underprivileged in the country.

Since 2009, CASS has been conducting its annual CSR assessment of the country’s top 300 businesses, evaluating them in four categories: responsible management, market, society and environment.