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By Sungwoo Park
Feb. 3 (Bloomberg) — Posco, South Korea’s biggest steelmaker, plans to cut carbon emissions from its factories as part of the nation’s efforts to combat global warming.
The company will cut emissions from producing crude steel by 9 percent by 2020 from the average level between 2007 and 2009 through technology improvements and increasing energy efficiency, according to a statement from the nation’s Presidential Office today.
Emissions will be lowered to 1.98 metric tons of carbon dioxide a ton of steel from 2.18 tons, Pohang-based Posco said.
South Korea, Asia’s fourth-largest polluter, said in November it plans a 30 percent cut in greenhouse gas emissions by 2020. Posco said on Dec. 17 it will invest 7 trillion won ($6.1 billion) by 2018 in alternative energy, including synthetic natural gas and wind power, to boost revenue from so- called “green” energy businesses.
Posco “will take it as an opportunity to improve future competitiveness in steelmaking and protect the environment,” the company statement said today.
Posco shares rose 3 percent to close at 558,000 won in Seoul trading, compared with a 1.2 percent advance in the local benchmark Kospi index.
URL : http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDzljAkiEp8Y
