Programme nominated for the Excellence in Life Cycle Assessment Steelie Award 2023
POSCO has collaborated with external partners to develop the ‘Accounting and Reporting Guidelines for Avoided GHG Emissions along the Value Chain of Steel Products and Byproducts’ (hereafter “the Guidelines”) (KBSCD, KOSA, 2021) and has performed 8 case studies on avoided emissions.
The case studies cover 8 eco-friendly products that contribute most to emissions reduction throughout their lifecycle. Product sales volumes, GHG reduction effects, and substitution effects on an LCA basis were used as indicators for quantifying the contribution.
According to the project, they found that by increasing production of low-carbon steel, their sales increased dramatically across their eco-friendly product portfolio in 2022: 655% in high-strength automotive steel plates, 118% in high-efficiency steel plates, and 182% in granulated slag cement. This project also helped to set synergies across the value chain.
The case studies were shared with industry stakeholders at an international seminar that they hosted on the theme of sustainable steel and industry competitiveness in the context of low-carbon supply chains.