POSCO contributes to 'Zero greenhouse gas emission' for 2018 Pyeongchang Olympic (Winter Games)
Donating 26,000 tons of CER offsetting greenhouse gas emissions generated by Pyeongchang Olympic (Winter Games).
The donated amount is equivalent to the power generated by 20 1MW wind power generators (30% efficiency). This certified emission reduction will be used to offset the greenhouse gas emission before and during the winter Olympics contributing to the realization of zero greenhouse gas emission for the first time in the history of Olympic.
This donation is especially meaningful since private corporations are contributing to the realization of low carbon Olympic. At the donation ceremony held at the PyeongChang Organizing Committee office in Jung-gu, Seoul, POSCO and SK Energy donated a total of 75321 tons of certified emission reduction.
Sang-pyo Kim, Vice President of Games Facilities of the PyeongChang Organizing Committee said, ``I'd like to thank corporations that are obliged to follow Emissions Trading Scheme for participating in the greenhouse gas emission offset for Pyeongchang winter Olympic.``
The donated CER was the credit purchased from CDM (Clean Development Mechanism) business approved by UNFCCC (United Nations Framework Convention on Climate Change). CDM business is that companies from developed nations can invest in clean-energy projects in developing countries and in exchange, they earn carbon credits which can be traded in international carbon market such as EU. UN is in charge of the whole process from business registration to carbon credit certification. POSCO’s CER is donated to Olympic Committee through CER fund operated by Korea Investment and Securities.
To reduce greenhouse gas emission, POSCO has been focusing on △energy efficiency improvement, △ high efficiency steel products development and △ low carbon technology development. Especially high efficiency steel products such as △ high tensile auto steel plates which improve fuel efficiency through lightweight car body and △low iron-loss electrical steel which improves energy efficiency of motor and transformer are contributing to the greenhouse gas emission reduction by reducing energy at end user level.
Furthermore, POSCO has been raising public awareness of climate change through operation of 'POSCO Carbon Neutral Program' and disclosing POSCO's climate change activities to related parties by publishing carbon report (integrated to Sustainability report from 2015) verified by the third party.
- POSCO donated 25,968 tons of CER (certified emission reduction) to the PyeongChang Organizing Committee for the 2018 Olympic & Paralympic Winter Games (POCOG) on December 16th.
source: Posco
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