By Lee Kap-soo

POSCO International announced on Oct. 30 that they have signed a business agreement with the local Environmental Protection Agency in Bogor, Indonesia, to strengthen activities in the Papua Bian River Wildlife Sanctuary.

The signing ceremony on this day was attended by various officials, including Hyeon Chang-seop, Corporate Director of POSCO International PT. BIA, and Atanasius Guntara Martana, director of the Papua Environmental Protection Agency.

Through this agreement, POSCO International will carry out activities in the Bian River Wildlife Sanctuary, which covers approximately 139,000 hectares near PT. BIA’s corporate Papua farm, which is engaged in the palm oil business. The activities include ▲enhancing environmental and biodiversity conservation, ▲supporting the recruitment of forest observation officers, ▲assisting in fire prevention activities, and ▲promoting self-reliance for the indigenous residents residing within the protected area.

From the initial stages of its business, POSCO International has been carrying out various activities to minimize the social and environmental impact of palm farm operations and promote environmental conservation and the economic independence of local communities in the Papua region.

In 2020, the first domestic company to do so, POSCO International declared NDPE (no deforestation, no peat, no exploitation) in its palm oil business environmental and social policy, committing to protect the environment and the rights and human rights of local residents while engaging in palm oil production. In 2021, the company obtained the international certification of the RSPO (Roundtable on Sustainable Palm Oil), demonstrating its efforts to advance sustainable palm oil operations.

An official from POSCO International said, “PT. BIA has consistently sought cooperation with the local government to strengthen initiatives in environmental and biodiversity conservation, as well as to provide ongoing support for the local community. This agreement marks the culmination of these endeavors.” The official added, “We hope that these actions will bring about positive changes in environmental preservation and the well-being of Papua’s residents.”

Meanwhile, since 2011, POSCO International has been actively investing in palm oil operations on Papua Island, Indonesia, leading initiatives that connect business with environmental and environmental conservation in the local community. This includes using agricultural efforts for food production, securing biofuels, and reducing carbon emissions through the utilization of palm oil waste. Since last November, POSCO International has been collaborating with GS Caltex-Alfa Laval to embark on the joint development of a system to extract waste oil from palm oil waste to secure second-generation bio raw materials and reduce greenhouse gas emissions, creating an opportunity to expand the value chain of the biofuel business.