ESG Management Strategy Analysis for Biodiversity Activity Intergrity: The Case of POSCO Group

Objectives:In this study, we analyzed the corporation’s current status and issues related to biodiversity and provided insights based on the results for future consideration.Methods:We investigated the double materiality analysis, then analyzed whether the activities are valuable enough for the corporation to focus on and whether they have an actual positive impact on the environment.Results and Discussion:The corporation placed high importance on the environmental (E) domain among ESG factors and focuses on three activities, which is installing artificial reef, NDPE declaration in palm farm, and endangered species survey. However, post-installation observation is more important than installation of arficial reef, and in palm farms, as the government actively participates in REDD, and farm areas are considered as “biodiversity hotspots”, maximum efforts seem necessary to reduce negative impacts. The reporting of endangered species surveys around the lithium facility in Argentina, surveys over several years are needed.Conclusion:Despite POSCO Group's efforts to enhance its environmental performances, some activities show ambiguous or limited impact. The focus should shift from problem prevention to root cause elimination, and efforts should be made to expand activities and improve transparency