POSCO, established in 1968, is headquartered in Pohang, Republic of Korea (ROK). The company has been ranked number one as the world’s most competitive steel company for 12 straight years. In line with its vision to engage in promising future industries such as green growth projects and to support government initiatives in reducing greenhouse gas emissions in developing countries, POSCO is doubling its efforts to cope with the emissions trading system in the ROK and the new climate regime. These activities promote shared growth, policy cooperation, and emissions reduction.
POSCO is a contributor to the Future Carbon Fund with a commitment of $20 million for purchasing certified emission reductions. It is a multinational steel-making company promoting new growth engines based on permanent new materials and steel, with an ongoing commitment to upholding new values.
Active Trust Funds
Trust funds with ongoing projects or no active projects but with remaining funds are considered active
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Construction of ADB-Financed Malolos–Clark Railway Project to Start Soon
ADB financed the Malolos–Clark Railway Project which will construct a safe, affordable, reliable, and environment-friendly railway connecting the northern provinces of the Philippines and the capital, Metro Manila. The contract signing will jumpstart the construction phase of the project, create much-needed jobs, and boost local economic activity. One of the contracts for civil works was awarded to POSCO who will erect a 33-hectare depot and a railways operations control center in Mabalacat, Pampanga.
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Fostering Sustainable Development through Carbon Markets
The Future Carbon Fund, where POSCO is a contributor, supports projects through the pre-purchase of certified emission reductions from 2013 to 2020. Its ability to pay upfront in combination with payment on delivery of certified emission reductions helps project entities to meet project development and implementation costs. Its assurance of a fixed price provides certainty and limits the downside for project entities, thus encouraging successful mitigation outcomes as well as additional co-benefits.