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POSCO ENERGY's Energy Dream project
Description/achievement of initiative

Since 2012, POSCO ENERGY has been promoting social contribution activities to realize energy welfare of the energy-vulnerable groups which are estimated to be about 1.78 million households in Korea, focusing on local communities. POSCO ENERGY named the project "Energy Dream" which holds an ambiguous meaning of giving energy and having dreams that reflects POSCO ENERGY's hope for the energy-vulnerable groups to live in the bright, warm, and safe place and furthermore be able to dream through the various support projects that give energy. POSCO ENERGY is continuing to expand this project to contribute to the achievement of SDG7 and SDG11.

Implementation methodologies

POSCO Energy, leading the energy business, such as LNG power generation and renewable energy, contributes to the stable supply of electricity through its businesses and mainly improves energy efficiency and strengthens living safety of homes and facilities of energy-vulnerable groups who lack supply of enough energy due to economic reasons. POSCO ENERGY improves the warmth of residential environment through the installation of double windows, insulation, and boiler replacement, and replaces the lamps with LED to help energy-vulnerable groups to live in a bright environment with low electricity bill. POSCO ENERGY contributes to securing the sustainability of energy use through the donation of photovoltaic system and creates a bright and safe space through the murals project for the aged and dark spaces. By conducting talent volunteering services for improving energy efficiency, photovoltaic system support, and electricity inspection to realize energy welfare of the energy-vulnerable groups, POSCO ENERGY reduced the energy cost burden for the energy-vulnerable groups in the perspective of social welfare and environmentally, POSCO ENERGY is taking the lead in sharing green value by reducing CO2 emissions, which affects climate change. In 2017, POSCO ENERGY contributed to the stable energy supply of UN SDG 7 by reducing the annual energy cost of 17.86 million KRW through conducting various projects for 41 households and 2 sites and at the same time, brought the effect of reducing 138,450kg of CO2 emissions. As an environment-friendly activity in resemblance to planting 49,841 20-year-old coniferous trees, this has brought indirect effects in response to the climate change, including global warming. From 2018, to strengthen autogenic power and secure sustainability of the beneficiaries in accordance with the residential environment improvement, POSCO ENERGY has been implementing training with Korea Habitat to enhance residential environment management of organizations that have been provided with photovoltaic system from POSCO ENERGY. In addition, POSCO ENERGY is carrying out activities with wall made(social enterprise) to contribute to securing the safety of UN SDG 11 residence by making it possible to safely use school zones and alleys that can become a crime-ridden district by constructing brightly colored murals in dark and aged spaces near schools.

Arrangements for Capacity-Building and Technology Transfer

Through the Energy Dream project, POSCO ENERGY is helping sustainability of the cities and local communities of UN SDG 11 by supplying the energy needed. Not only considering the cold of the winter season due to climate change but also in accordance with the rising difficulties of the energy-vulnerable groups due to the lack of energy needed for summer heat, POSCO ENERGY plans to raise financial resources and strengthen electricity inspection through technical support of finance and engineers. In Indonesia and Vietnam, POSCO ENERGY started Energy Dream project newly.

Coordination mechanisms/governance structure

In order to utilize the fund appropriately, POSCO ENERGY is selecting fair support targets and executing funds through the Community Chest of Korea and POSCO 1% Sharing Foundation. By collaborating with NGO and social enterprise including Korea Habitat, POSCO ENEGERY enhances the expert of the project. Moreover POSCO ENERGY provides opportunities for the employees to participate in the Energy Dream project, such as papering walls, installing insulation, and etc. POSCO ENERGY is measuring the improved effects through energy diagnosis, utilizing blower door test before and after construction, infrared thermal imaging camera, and CE3 program, etc. and continuing to make improvements through the satisfaction survey of the beneficiaries.

Partner(s)

Community Chest of Korea, Korea Habitat, POSCO 1% Sharing Foundation, Wall Made(Social Enterprise)
Progress reports
Goal 7
7.1 - By 2030, ensure universal access to affordable, reliable and modern energy services
7.2 - By 2030, increase substantially the share of renewable energy in the global energy mix
7.3 - By 2030, double the global rate of improvement in energy efficiency
Goal 11
11.1 - By 2030, ensure access for all to adequate, safe and affordable housing and basic services and upgrade slums
2012
Energy Dream project launching, Energy efficiency construction for 10 energy-vulnerable households in Seo-gu, Incheon, Construction of mural for 1 site in Seoul
2013
2. 2nd Deliverable (description, year): Expansion of Energy Dream project beneficiaries, Energy efficiency construction for 40 households in Gyeongin area, Supporting of photovoltaic system for 1 site in Gwangyang, Construction of murals for 2 sites of community children centers in Incheon area
2014
3. 3rd Deliverable (description, year): Diversification of Energy Dream project and of beneficiary areas, Electricity inspection talent volunteering service for 40 households in Incheon, Pohang, and Gwangyang, Delivery of winter sharing kit to 150 households, Energy efficiency construction for 17 households and 4 facilities, Supporting of photovoltaic power generation facility for 1 site each in Pohang and Gwangyang, Construction of murals for 4 sites of community children centers in Incheon area
2015~2018
4. 4th Deliverable (description, year): Expansion of Energy Dream beneficiaries, Delivery of winter sharing kit to 610 households in Samcheok, Electricity inspection talent volunteering service in Incheon, Pohang, and Gwangyang, Energy efficiency construction, Supporting of photovoltaic power generation facility, Continuing construction of murals
In-kind contribution
Photovoltaic system contribusion, Social contribution fund through donation of 1% salary of management & employee, and the company's matching grants
Staff / Technical expertise
Talent volunteering services for improving energy efficiency, Electricity inspection to realize energy welfare of the energy-vulnerable groups

Basic information
Time-frame: 2012 - 2030
Partners
Community Chest of Korea, Korea Habitat, POSCO 1% Sharing Foundation, Wall Made(Social Enterprise)
Countries
Contact information
Miyoung Kim, Senior Manager, mykim31@poscoenergy.com
United Nations