South Korea’s largest trading company POSCO International on Sunday said it officially declared its goal of achieving carbon neutrality by 2050 to become a global eco-friendly corporation.
The first target is an intermediate plan to reduce carbon emissions 37% by 2030, followed by cutting emissions from operations and expanding renewable energy facilities.
On its direct reduction of emissions, POSCO International will convert its 3.4-gigawatt liquefied natural gas (LNG) power facility at Incheon LNG Combined Cycle Power Plant, a major domestic power plant, into the hydrogen mixed-combustion method in a sequential manner. In addition, it will apply carbon capture and storage technology to reduce residual emissions from power plants.
For indirect emission cuts, POSCO Group will significantly expand renewable energy operations like wind power in response to RE100 (renewable energy 100). Its plan is to add 2.5 GW in capacity by 2050 through offshore wind power projects to its 14.5 MW of solar power and 62.7 MW of onshore wind power in Sinan County, South Jeolla Province.
Write to Hyung-Kyu Kim at khk@hankyung.com