|POSCO's Triton artificial reef is being installed in the ocean. / Courtesy of POSCO|
By Kim Hyun-bin
POSCO has received the World Steel Association's Steelie Award in the sustainability category, Wednesday.
The Steelie Awards are given in seven categories ― excellence in digital communications, innovation of the year, excellence in sustainability, excellence in life cycle assessment, excellence in education and training, excellence in communications programs and journalist of the year ― to recognize member companies and individuals for their contributions to the steel industry over a one-year period.
The Steelies are awarded each year at Worldsteel's General Assembly in October.Due to the COVID-19 pandemic, the winners of the 11th Steelie Award were revealed online on Oct. 14.
The Excellence in Sustainability award went to POSCO, which competed against Brazil's Gerdau USIMINAS, Japan's JFE Steel, Russia's Novolipetsk Steel and Mexico's Ternium.
But POSCO's Triton Project was named as the winner as it helped restore the ocean ecosystem through artificial reef development which promotes a "blue carbon" effect ― the natural sequestration of carbon in marine ecosystems.
This is the second time POSCO has won the excellence in sustainability award, with the previous time being in 2010. The company has also racked up innovation of the year awards four times in 2012, 2015, 2017 and 2019.
POSCO's ocean forestry project uses Triton fish banks that were developed using steel slag and are installed in heavily damaged parts of the ocean in order to establish sea forests for marine algae and life.
Since 2000, POSCO in partnership with its company research institute RIST has developed the Triton artificial reefs with steel slag ― a byproduct of steel production ― and distributed over 7,654 of the artificial reefs for free in 30 locations around the country.