POSCO Holdings joins TNFD (Taskforce on Nature-related Financial Disclosures) and strengthens ESG management

News provided by

May 24, 2022, 04:53 ET

The first among Korean non-financial companies. Participation in the development of standards for disclosure of financial information related to biodiversity
POSCO Holdings takes the lead in protecting the endangered species "Vicuña" near the salt lake of Hombre Muerto in Argentina

SEOUL, South Korea, May 24, 2022 /PRNewswire/ -- POSCO Holdings has joined TNFD (Taskforce on Nature-related Financial Disclosures), which sets standards for biodiversity-related information disclosure.

TNFD is a global consultative body that was officially launched in June last year under the leadership of the United Nations Development Programme (UNDP) and the World Wildlife Fund Inc. (WWF) to establish standards for biodiversity-related information disclosure. Currently, about 420 companies and organizations such as BlackRock and BHP are participating. Among domestic companies, POSCO Holdings is the fourth company to join after several domestic financial companies and is the first among non-financial companies.

By joining the TNFD, POSCO Holdings plans to participate in the development of standards for biodiversity-related financial information disclosure and strengthen biodiversity preservation activities near the business site.

POSCO Holdings is discussing multiple measures with the local government to protect Vicuña, an endangered species that lives near the salt lake of Hombre Muerto in Argentina. Starting this year, POSCO Holdings plans to comply with the TNFD guidelines by regularly inspecting and managing the current status of protection activities for animals and plants near the salt lake while transparently disclosing relevant information to stakeholders.

POSCO is taking the lead in restoring the marine ecosystem through the creation of a sea forest using the artificial reef Triton and participating in the Clean Ocean Volunteer Group activities that collect marine litter. POSCO E&C has been promoting the urban beekeeping business since last year. POSCO International has acquired RSPO (Roundtable on Sustainable Palm Oil), an eco-friendly international certification related to Indonesian palm farms, and strictly complies with standards governing environmental protection and community obligations in all stages of the palm business.

Starting this year, POSCO Group plans to set carbon-neutral and work site safety including biodiversity as its core agenda, and will raise awareness of ESG management and ability to respond to ESG issues through the Group's ESG Council.

SOURCE POSCO Holdings