South Korea's top steelmaker POSCO on Sunday launched the
first product from its low-carbon brand Greenate.
Greenate features distribution-type products that emit lower CO2 emissions
through the use of green production processes after certification by a leading
institution, with customers who use them recognizing such eco-friendly
performance.
In 2021, global steelmakers like those in Europe and Japan adopted low-carbon
distribution-type products that set emission-cutting performance for specific
steel materials, but POSCO is the first to do so in South Korea.
The calculation of CO2 emissions and reductions was based on the Greenhouse Gas
Protocol, the most widely used international standard, and verification came
from DNV UK, one of the world's top three certification bodies.
POSCO was recognized for cutting 590,000 tons of CO2 emissions from January to
August last year by raising the use of pellets in its blast furnaces and scrap
metal in its converters.
Pellets are raw materials processed into balls of a certain size after iron ore
is crushed and sorted. A higher volume of pellets used lowers the iron ore
needed, cutting the amount of fossil fuels used in processing before putting
the iron ore into blast furnaces.
To begin with, Greenate supplied its first low-carbon product to LG Electronics Inc.,
shipping 200 tons of steel products for use as dryer parts and materials. The
steelmaker will expand its supply of low-carbon steel products for use in
household appliances.
Samsung Electronics
Co. is also considering preferential use of low-carbon steel in
its premium ovens. In a first for the industry, POSCO recently signed a
three-year supply contract with the electronics giant to supply steel products
for use in home appliances and electrical sheets.