POSCO E&C’s Promise for the 2050 Carbon Negative
To ensure a systematic climate change response, POSCO E&C developed a roadmap that aims for carbon negative by 2050. Moreover, based on our corporate governance, we develop strategies and manage our risks and quantitative goals.
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2021
Climate change impact assessment and strategy establishment
Launch carbon neutral strategies- Building governance to respond climate change (Strengthen organizational R&R, operate Carbon Neutral Council)
- Monitoring GHG reduction pilot sites and buildings
- Launching mid- to long-term order-winning strategy to respond to climate change
- Advancing GHG management system
- Setting scope and target of value chain reduction
- Applying for participation in CDP (to respond to the evaluation starting 2022)
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2021~2030
Implementation of climate change response strategies
Establish and activate a low-carbon management system- Participation in Korea’s RE100 (2022 onwards)
- Reduction through renewable energy projects (2025 onwards)
- Advancing into overseas GHG reduction business
- Developing climate change response technologies and winning related orders
- Promoting value chain reduction management and performance quantification - Expanding the scope of reduction and strengthening the target
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2030~2050
Lead the climate change market from competitive edges
Become a top-tier construction company responding to climate change- Securing a leading position in low-carbon management and contributing to POSCO Group’s carbon neutrality
- Leading domestic and overseas low-carbon businesses - Hydrogen infrastructure, smart water management, etc.
- Leading the domestic zero-energy building market
- Commercializing technologies related to climate change and securing market advantages
- Contribution to carbon neutrality by major supply chains, customers and suppliers
Business Model Innovation to Lead a Low-carbon Society
POSCO E&C promotes conversion to low-carbon business and implementation of carbon-negative strategies with consideration given to its key competencies and sustainability. In particular, we plan to strengthen our global competitive power and lead the future construction market through new business items, such as renewable energy, hydrogen, and carbon capture and storage (CCUS), in the energy and infrastructure business sectors. We will actively engage in climate-related business activities abroad by expanding our R&D activities and through green financing for low-carbon and eco-friendly businesses.
Sustainability improvement
of the existing projects
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Power generation
Low-carbon power generation- Suspend entry to new coal-fired power generation projects
- Expand entry to the LNG power generation market in Korea and abroad
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Infrastructure
Response to climate change- Dominate domestic and overseas water markets for seawater desalination and smart water management
- Promote the use of organic waste resources (biogas) and energy from domestic wastes (waste heat)
- Improvement of aging infrastructure reflecting climate change response design technology
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Building works
Energy efficiency improvement- Strengthen green building projects, such as zero-energy buildings and green remodeling
- Develop smart green industrial complexes and cities using the fourth industrial revolution technologies
Development of new projects
with high sustainability
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Renewable energy
Expansion of projects in Korea and abroad- Expand entry to new markets for offshore solar and wind power generation
- Secure and sell GHG reduction credits through overseas projects
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Hydrogen
Innovative carbon-free technology- Develop hydrogen project value chain with POSCO and dominate the markets earlier on
- Build infrastructure for hydrogen projects, such as byproduct hydrogen and ammonia storage tanks
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Rechargeable batteries
Engineering competency advancement- Preemptive measures for the captive market of rechargeable battery for lithium and anode and cathode materials by securing core technologies
POSCO Group’s Green Hydrogen Production Facilities and Infrastructure Development
According to the POSCO Group’s plan to secure key hydrogen-related technologies and production capacity by 2030, POSCO E&C plans to build hydrogen-based renewable energy production facilities and establish a smart hydrogen city using smart construction technologies.
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Green hydrogen production facility Electrolysis facilities for solar and wind power generation and green hydrogen production
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Hydrogen storage facility Safe storage facility using a liquid hydrogen storage technology
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Infrastructure for hydrogen use Development of a smart hydrogen city through hydrogen charging stations and power plant construction
Enhancement of Offshore Wind Power Business Capacity to Advance into a Global Eco-friendly Company
Offshore wind power generation is an eco-friendly business with large growth potentials as the value chain can be expanded to green hydrogen production. In particular, POSCO E&C will develop an offshore wind power generation complex in order to contribute to local development, such as income source creation. We aim to provide an eco-friendly and self-sufficient energy environment to fishing villages.
- Having entered into a strategic memorandum of understanding (MoU) with Orsted Group, which is ranked No. 1 in the global offshore wind power generation market, POSCO Group engages in the engineering, procurement, and construction (EPC) of offshore wind power generation in Korea as well as the development of optimal steel materials for offshore wind power generation.
LNG, an Eco-friendly Energy Source - Global Leader of LNG Terminal Business
Having developed the standard gas-to-power project models per power generation capacity, POSCO E&C actively responds to the recent trend abroad to transform the old coal-fired and heavy oil-fired power plants to combined gas power plants and LNG terminals.
- Gwangyang No. 6 LNG Tank Project, Korea
- Colon Combined Cycle Power Plant and Terminal Project, Panama
Operation of a POSCO E&C Environment Management System (POEMS) according to international standards
POSCO E&C recognizes the importance of managing factors in the construction industry that cause harm to the environment, such as fine dust, noise, and waste, and take strict countermeasures against them. In particular, we are independently operating the ISO 14001-certified POEMS, optimized to the construction industry.
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Design stage1. R&D
- Development of an eco-friendly construction method
- Development of eco-friendly information technology
- Eco-friendly design
- Prevention and removal of environmental risk factors
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Purchase3. Purchase
- Support for the development of eco-friendly product by subcontractors
- Expansion of green partnerships
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Construction4. Construction
- Eco-friendly site management
- Environmental risk-centered management
- Operation of a waste management system
- Reduction of waste generation
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Communication6. Marketing
- Best practice and idea contests for eco-friendly construction
- Eco-friendly campaigns
Cost Reduction by 50% Compared to Water Spray Trucks
Scattering Dust Reduction Agent
The Infrastructure Research Group of POSCO E&C R&D Center partnered with the Ministry of Environment, a local university, and SMEs to develop a scattering dust reduction agent using eco-friendly hybrid polymer. The scattering dust agent is evaluated as a low-cost and high-efficiency product.
* Applied to Seobu Inland Expressway (section 11)
Top prize at the Best Practice Competition for Construction Environment Management
Smart Water Spray System
Together with the SMEs, POSCO E&C developed a smart water spray system equipped with automatic spray angle adjustment and remote-control functions through the embedded engine. This system contributes to reducing dust in construction sites where there are limitations in manual water spraying.
