POSCO INTERNATIONAL : Collaborates with Indonesian Natural Resources Conservation Center to 'Augment Activities in Wildlife Sanctuaries'

POSCO INTERNATIONAL Collaborates with Indonesian Natural Resources Conservation Center to 'Augment Activities in Wildlife Sanctuaries'

2023.10.30

POSCO INTERNATIONAL Collaborates

with Indonesian Natural Resources Conservation Center

to 'Augment Activities in Wildlife Sanctuaries'

- Signed an agreement with a local natural resources conservation center to 'enhance activities in the Bian River wildlife sanctuary in Papua'

- Plans to expand biodiversity conservation activities and support the self-sustainability of the indigenous people within the reserve

POSCO INTERNATIONAL (Vice Chairman Jeong Tak) announced on the 30th that it has signed a business agreement with a local natural resources conservation center in Bogor, Indonesia, aiming to 'enhance activities in the Bian River wildlife sanctuary in Papua.'

This signing ceremony was attended by Hyun Chang-Seop, the Head of POSCO INTERNATIONAL PT. BIA, Atanasius Guntara Martana, the Head of Papua's Natural Resources Conservation Center, and other officials.

Under the agreement, POSCO INTERNATIONAL will ▲strengthen environmental and biodiversity conservation efforts, ▲assist in the hiring of forest rangers, ▲support fire prevention initiatives, and ▲promote the self-sufficiency of indigenous people residing in the reserve within the Bian River wildlife sanctuary near PT. BIA's palm plantation in Papua, which spans approximately 139,000 hectares.

Since its inception, the company has been minimizing the social and environmental impacts of palm plantation operations and undertaking various activities for environmental preservation and economic independence of local communities in Papua.

In 2020, the company was the first Korean enterprise to declare the NDPE (No Deforestation, No Peat, No Exploitation) policy, an environmental and social policy for the palm business that aims to produce palm oil while safeguarding the environment and the rights of local inhabitants, and in 2021, it received RSPO (Roundtable on Sustainable Palm Oil), an international sustainable palm oil certification, and continues to strive for a sustainable palm oil business.

"PT. BIA has persistently sought cooperation with the local government to protect the environment and biodiversity, as well as to amplify ongoing support for the local community. This agreement is the fruition of those efforts," stated a POSCO INTERNATIONAL official. "We anticipate that these endeavors will have a positive impact on both the environment conservation and the lives of the people in Papua."

Meanwhile, POSCO INTERNATIONAL has been actively investing in the palm business in Papua, Indonesia, since 2011. It also has been leading activities that connect 'business and environmental conservation for the local community,' such as securing biofuels through its agro business and reducing carbon emissions by utilizing palm wastewater. Since November last year, the company has been collaborating with GS Caltex and Alfa Laval to jointly develop a system to extract waste oil from palm wastewater to source second-generation bio-based raw materials and cut greenhouse gas emissions, providing opportunities to broaden the value chain of the biofuel business.

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