Korea's POSCO gets greener via integrated CO2-free brand

Korea's POSCO has introduced the integrated brand Greenate to symbolize the commitment of the nation's top steelmaker to achieve carbon neutrality by 2050.

Greenate on Tuesday made its official debut at this year's POSCO Green Materials Forum hosted at Songdo Convensia in Incheon, with around 560 staff of client companies from 28 countries attending. The company said the new brand integrates the eco-friendly automotive products and solutions provider Autopos, Innovilt, a premium brand of steel products for construction, and Greenable, which focuses on steel products and solutions specifically for green energy sources like solar, hydrogen and wind.

Greenate also handles all low-carbon steel products and related technologies and processes.

POSCO said that through Greenate, it will announce its efforts and results toward achieving its carbon neutrality goal by 2050.

On the same day, the steelmaker concluded a memorandum of understanding with LG Electronics and Volvo Construction Equipment of Sweden on the supply and purchase of mass-balanced and low-carbon steel products. The unique steel used in such items reflects lower CO₂ emissions in performance as certified by external institutions, so client companies can also gain recognition for reducing greenhouse gases.

The MOU is the steelmaker's first related to this product. 

POSCO CEO Choi Jeong-woo said, "We plan to lead an era of a low-carbon society and achieve major progress as a corporation standing for eco-friendly future materials."

Write to Kyung-min Kang at kkm1026@hankyung.com