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Posco Recognized for High Corporate Social Responsibility
11/19/2007 - Posco receives positive reviews for its high social responsibility by the Japanese edition of Business Week, andin a survey on corporate sustainability jointly conducted by MoneyToday and Eco Frontier.
Posco has received positive reviews for its high social responsibility by a number of corporate and financial experts, including a ranking as 30th in the ‘Global CRS (Corporate Social Responsibility) 500’ by the Japanese edition of Business Week. This was the top ranking in Korea.
Only three corporations in Korea—Posco, Samsung Electronics, and Samsung SDI—were evaluated in the ‘Global CRS 500,’ which was jointly conducted by the Japanese edition of Business Week and Ethical Investment Research Services (EIRIS), CRS’s consulting company in the U.K.
Only three corporations in Korea—Posco, Samsung Electronics, and Samsung SDI—were evaluated in the ‘Global CRS 500,’ which was jointly conducted by the Japanese edition of Business Week and Ethical Investment Research Services (EIRIS), CRS’s consulting company in the U.K.
In the ‘Global CRS 500,’ 60 points were allocated to the ‘social responsibility’ and the ‘financial affair’ categories, which are prerequisites for realizing social responsibility, and the overall rank is based on the sum of the points of the two sections. Financial affair is evaluated through three categories: profitability, growth, and stability. Social responsibility is evaluated using four categories: governance, employees, society, and environment.
Having the highest scores in profitability and stability of the financial affair and in society, which evaluates a company’s social contribution activities, not only has Posco been included in the ‘Global CRS 500’ for the first time, but has also recorded the highest rank among Korean companies.
With Astrazeneca, a British pharmaceutical company, selected as the top company, Business Week Japan said that the management, which creates virtuous circle in finance by realizing its social responsibilities, has become an important management policy among global companies.
Having the highest scores in profitability and stability of the financial affair and in society, which evaluates a company’s social contribution activities, not only has Posco been included in the ‘Global CRS 500’ for the first time, but has also recorded the highest rank among Korean companies.
With Astrazeneca, a British pharmaceutical company, selected as the top company, Business Week Japan said that the management, which creates virtuous circle in finance by realizing its social responsibilities, has become an important management policy among global companies.
Posco was also recently selected as the most sustainable company in a survey jointly conducted by MoneyToday with Eco Frontier on corporate sustainability. The study included feedback from ten experts, including research center directors from five major securities companies, chief information officers (CIOs) from five major securities and fund managers, etc.
Posco has received the highest scores in ‘social responsibility’ and ‘profit sustainability’ sections, which is especially a meaningful result for Posco because the participating experts marked the ‘social responsibility’ as the most critical element for a company’s sustainability for the coming century.
Financial experts evaluated Posco, which will celebrate its 40th anniversary, as a company which has achieved progress in Environmental, Social, and Governance (ESG) aspects and continued to upgrade corporate values.
The experts expect that Finex technology would be the most significant factor in raising Posco’s competitiveness, and realize Posco’s effort to reduce both costs and greenhouse gas emission. In addition, Posco’s sound corporate governance, including the Board of Directors led by nonexecutive directors, was highly reviewed as a strength that differentiated Posco from other companies.
In the survey, the corporate social responsibility was chosen as the most important element for company’s 100-year growth outlook, followed by smooth communication with stakeholders, innovative routines, and sound corporate governance.
Posco has received the highest scores in ‘social responsibility’ and ‘profit sustainability’ sections, which is especially a meaningful result for Posco because the participating experts marked the ‘social responsibility’ as the most critical element for a company’s sustainability for the coming century.
Financial experts evaluated Posco, which will celebrate its 40th anniversary, as a company which has achieved progress in Environmental, Social, and Governance (ESG) aspects and continued to upgrade corporate values.
The experts expect that Finex technology would be the most significant factor in raising Posco’s competitiveness, and realize Posco’s effort to reduce both costs and greenhouse gas emission. In addition, Posco’s sound corporate governance, including the Board of Directors led by nonexecutive directors, was highly reviewed as a strength that differentiated Posco from other companies.
In the survey, the corporate social responsibility was chosen as the most important element for company’s 100-year growth outlook, followed by smooth communication with stakeholders, innovative routines, and sound corporate governance.
