POSCO ranks 40th on global sustainability list

By Park Jin-hai

POSCO has made the list of the top 100 most sustainable corporations in the world, the steelmaker said Thursday.

The company placed 40th on the 2016 Global 100 Most Sustainable Corporations in the World Index issued during the World Economic Forum.

The company has been included in the top 100 list for two years in a row and is the only steelmaker to make the cut on the most coveted list.

Three other Korean companies listed were Shinhan Bank, LG Electronics and Samsung Electronics.

POSCO’s ranking was four steps lower than the previous year, yet surpassed the rankings of LG Electronics, 44th, and Samsung Electronics, 94th.

“The result is more meaningful to us, because we have achieved it during last years’ unfavorable global market conditions, which included oversupply, lower demand and strengthened regulations,” said a company official. “More so, we have achieved this ranking while undergoing rigorous restructuring to stay afloat.”

The list was announced by Corporate Knights, a Canadian magazine for clean capitalism, during the annual conference of the World Economic Forum currently underway in Davos, Switzerland.

German carmaker BMW topped the list this year.