POSCO INTERNATIONAL said PT.BIA, POSCO INTERNATIONAL’s local palm plantation business in Indonesia, was certified with ISCC EU (International Sustainability and Carbon Certification EU (ISCC EU) ISCC EU and Carbon Offsetting and Reduction Scheme for International Aviation (ISCC CORISIA) on waste palm recovered from palm oil mill effluent (POME) generated from palm oil milling activities.
POSCO INTERNATIONAL has so far implemented the palm business to comply with the international community’s demand on environment responsibility and sustainability based on the Roundtable on Sustainable Palm Oil (RESPO).
With its acquisition of two additional international certifications, the company could step up the growth of the eco-friendly business.
The ISCC EU is a global certification designed to secure the sustainability of bio fuel production using biomass in accordance with EU’s renewable energy guidelines.
The certification is required for Korea to export bio fuels and raw materials to the European market.
In particular, the acquisition of the certification is significant since the EU evaluates efforts to minimize environmental destruction in the process of production based on stern standards even though the importance of bio fuels as renewable energy resources is stressed.
POSCO INTERNATIONAL’s acquisition of the ISCC EU is expected to serve as an opportunity to diversify sales channels to expand the EU market.
The company also obtained ISCC CORSIA. The certification is a regime designed to guarantee the sustainability of aviation fuels in accordance with the programs to reduce international aviationgreenhouse gas emissions, operated by the International Civil Aviation Organization (ICAO).
As concern on carbon emission reduction of the global aviation industry is on the rise of late, POSCO INTERNATIONAL is expected to not only enter the aviation fuel market but also contribute to the aviation industry’s goals of achieving carbon neutrality by obtaining qualifications to supply raw materials on the production of sustainable aviation fuel (SAF).
POSCO INTERNATIONAL began to develop farms in Papua, Indonesia, in 2011 and launched palm production in 2016.
The company posted $163.6 million in sales and $52.56 million in operating profit last year by producing unrefined palm oil of 208,000 tons.
Executives of POSCO INTERNATIONAL pose with institutional investors and securities analysts who attended the “2024 Energy Business Value Day” at Gwangyang LNG Terminal from Oct. 17 to 18, where they shared the growth roadmap of the energy business.
POSCO INTERNATIONAL Holds ‘2024 Energy Business Value Day’
POSCO INTERNATIONAL hosted the ‘2024 Energy Business Value Day’ at Gwangyang LNG Terminal over two days starting on Oct. 17, where they shared the growth roadmap of their energy business with investors.
The event was attended by over 50 key participants, including relevant management members along with institutional investors and securities analysts.
Established last year, the ‘Value Day’ is an IR event where senior management directly introduces the company’s growth plans to investors and industry experts, marking the first time it has been held at its local business site.
Focusing on the theme of ‘Energy Business,’ this Value Day included presentations on three main topics: ▲ Trends and outlook of the global LNG market ▲ Capabilities, vision, and strategy of the core E&P business ▲ Outlook for the LNG terminal business and strategies for its expansion into related sectors.
Afterwards, participants toured the construction site of the expanding terminal and the test-operating vessels to gain a better understanding of the terminal-related businesses.
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