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A top Korean steelmaker has earned itself an award by accumulating carbon-credits with afforestation project in Uruguay.
Koreas POSCO major forestation project in Uruguay has been accredited by the United Nations as helping offset the steel-makers carbon footprint.
The company has released a statement to say it is the first Korean company to register afforestation carbon credit and the first amongst steelmakers.
POSCO has invested US$55 million in Uruguay to purchase 20,000 hectares of afforestation land to carry out the carbon credit project.
The company first purchased approximately 1000 hectares of land in August last year in Cerro Largo and planted approximately 880,000 Eucalyptus as a sample planting to check feasibility for the latest environmental project.
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