POSCO recently organized an event at the POSCO Center in Gangnam and invited key domestic clients to “a briefing session on its plan to launch a low-carbon product.” During the session, POSCO provided insights into the current global demand for carbon reduction and presented its 2050 carbon neutral roadmap. The company also unveiled a lineup of low-carbon products set to be released by 2030.
One of the notable products introduced by POSCO is “Greenate certified steel,” which operates on a mass-balance principle. This product effectively reduces carbon emissions by distributing the emissions saved through the implementation of low-carbon production processes and the use of low-carbon steel. Companies that purchase this product are acknowledged for their efforts in reducing carbon emissions equivalent to the amount associated with the product.
Leading steel manufacturers in Europe and Japan had already adopted the mass balance methodology, which involves allocating carbon reductions to specific steel products, in 2021. POSCO became the first company in Korea to adopt this method for launching a low-emission product.
The evaluation of carbon emission reduction for Greenate was conducted according to the GHG Protocol, a widely used international standard that measures greenhouse gas emissions. The assessment was performed by DNV (Det Norske Veritas) UK, one of the top three certification agencies globally, with extensive experience in certifying carbon-reduced steel from steel companies worldwide. The evaluation took place at POSCO’s Pohang Works and Gwangyang Works.