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POSCO Ranks 36 in 100 Most Sustainable Corporations in the World
Global Top 100
POSCO Ranks 36 in 100 Most Sustainable Corporations in the World
  • By matthew
  • January 23, 2015, 02:21
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Kwon Oh-joon, chairman of POSCO.
Kwon Oh-joon, chairman of POSCO.

 

The POSCO center, a landmark of the Gangnam business district in Seoul.On Jan. 21 (local time), POSCO ranked 36th on on the 2015 Global 100 Most Sustainable Corporations in the World Index announced by the World Economic Forum (WEF). The ranking is the highest among Korean companies. Also, POSCO is the only steel company in the world on the list.

​Since 2005, the WEF has released the Global 100 Most Sustainable Corporations in the World Index through Corporate Knights, the Canada-based media and investment advisory company.

Since they believe that corporate competitiveness and sustainability involves not only its financial performance but also its contribution to the environment and society sectors, companies are evaluated across 12 “key performance indicators” and ranked accordingly.

After POSCO ranked 30th, the highest ranking among Korean companies, in 2012, the company couldn’t make the top 100 for two consecutive years. Then, it re-listed at 36th on the index, which was the first evaluation after POSCO Chairman Kwon Oh-jun took office.

POSCO received favorable evaluations in the executive performance sector, which is related to the corporate sustainability management, and its low turnover rate, which shows how good the company is to work for.

Also, the company actively took part in the value-added activities, including recycling by-products of steel and reusing it in the processes, and it resulted in a positive outcome in terms of transparency in the release of information. Moreover, the company received a high score in the R&D innovation ability index.

Meanwhile, Biogen Idec, one of the world’s leading biotechnology companies, and Allergen, an American worldwide pharmaceutical company producing Botox, came in first and second, while Adidas, the German maker of sports apparel and equipment, came in third. Samsung Electronics ranked 45th, while LG Electronics and Shinhan Financial Group ranked 51st and 70th.

An official from POSCO said, “I believe that the results of the plan to reinforce the company's original competitiveness in steel, which have been continuously pursued by Chairman Kwon Oh-jun since he was elected as the CEO, have been reflected on the measurement index.”