POSCO International aims to reach carbon neutrality by 2050
POSCO International executives visit an offshore wind park in Sinan, a county in South Jeolla Province, in this June 27 photo provided by the company. Yonhap
POSCO International said Sunday it aims to go completely carbon neutral by 2050 to tackle the global climate crisis and become an environmentally sustainable business.
As a first step toward the goal, the company said it will reduce carbon emissions by 37 percent by 2030.
POSCO International, a commodities trading unit under Korean steel giant POSCO Holdings, said it will gradually switch liquefied natural gas (LNG) used for electricity generation at its factory in Incheon, 27 kilometers west of Seoul, to hydrogen and that it will actively use carbon capture and storage (CCS) technologies to reduce carbon emissions.
As a long-term plan, the company also laid out a vision to build large-scale CCS systems in Korea and Southeast Asia.
The company also plans to aggressively expand its renewable energy businesses, wind power in particular, to lessen the impacts of worsening climate change. It 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. (Yonhap)