Chang In-hwa, chairman of South Korean steel company POSCO Holdings, stressed the importance of closer international cooperation to support the steel industry's transition to decarbonization. He delivered the message during a meeting of the World Steel Association's executive committee in Berlin.
Decarbonization seen as a common industry challenge
Speaking alongside senior executives from the world's leading manufacturers, Chan said decarbonization remains a common challenge for the industry, especially as demand slows and prices rise electricity.
He stressed that coordinated efforts are needed to accelerate emissions reductions across the world's steel value.
Focus on fair market value for green steel
Chan presented POSCO's decarbonization roadmap and emphasized the need to ensure that steel products have low emission levels have reached fair market value.
The company believes that closer cooperation could help align market mechanisms with sustainable development goals.
Strategic discussions with global partners
On the sidelines of the meeting, POSCO held bilateral discussions with key industry leaders including JSW Group Chairman Sajjan Jindal and representatives from China's steel sector. The talks focused on overseas investment opportunities, carbon reduction technologies and supply chain stability.
Discussions at the meeting covered broader issues facing the steel industry, including the ongoing energy crisis, geopolitical risks and the need for internationally agreed carbon accounting standards.
POSCO's sustainability efforts were recognized at the event and the company received the Steel Sustainability Champion award from Worldsteel for the fifth time in a row. year.
