Thaioil listed as a member of Dow Jones Sustainability Indices 2020
published : 18 Nov 2020 at 18:59
for eight consecutive years and recognised as Industry Leader for the sixth year in the global Oil & Gas Refining and Marketing industry
Recently Dow Jones Sustainability Indices, or DJSI, the worldwide accepted sustainability indices, announced that Thai Oil Public Company Limited has been listed as a member of DJSI 2020 for the eighth consecutive year, and recognised as the Industry Leader for the sixth year in the global Oil & Gas Refining and Marketing industry in terms of sustainability performance covering the economic, environmental and social dimensions.
Mr. Wirat Uanarumit, Chief Executive Officer and President, Thai Oil Plc, announced that “Thaioil has been managing business towards the vision 2030 “Empowering Human Life through Sustainable Energy and Chemicals”, with the focus on three dimensions – economic growth, creating shared value for society, and excellence in environmental management, under the principles of good corporate governance that always enhance the quality of life for all stakeholders. Thus, the announcement of Thaioil as a member and leader in Oil & Gas Refining and Marketing industry of Dow Jones Sustainability Indices (DJSI) again this year has emphasised our commitment to doing business and served as the pride of all employees.”
Mr. Uanarumit added, “This year, the petroleum and petrochemicals industries have encountered massive challenges, especially the global economic crisis which is affected by the COVID-19 pandemic and the global oil price fluctuation as a result of the oversupply and US-China Trade War. Moreover, the disruption of renewable and clean energy has led Thaioil to modulate business strategies: 1. Hydrocarbon Value Chain Expansion – Focusing on the petrochemicals business and high-value products. 2. Supply Chain Management – Building a platform to support company growth: refinery expansion under 'Clean Fuel Project (CFP)' and enhance the company’s competitiveness. 3. Earnings Diversification – Investing in the new businesses with financial stability including eco-friendly businesses, innovative or so-called new S-Curve industries, is expected to gain more flexibility and stability to our business portfolio amid the volatility of the petroleum and petrochemicals market.”
Thaioil has always been focusing on three central factors in measuring the sustainability impact of a business: E : Environmental, S : Social and G : Governance. First, Environmental Factor, Circular Economy has been adopted to manage our business including efficient resource management under “TOP CE WE GO” project in all products’ life cycle e.g. 3Rs in refinery process – Reduce, Recycle and Recover, 17 energy efficiency improvement projects and targeting zero waste to landfill. Second, for Social Factor, Thaioil has been taking care of the surrounding communities; enhancing their quality of life and alleviating the environmental impact. As a result, the community engagement index of the refinery is at a high level. Third, for Governance Factor, Thaioil has been managing its business with transparency, fairness and reliability. GRC (Governance, Risk and Compliance) has been implemented across the organisation to prevent the violation of laws and increase process transparency within the organisation. All the above-mentioned are the important keys for long term success, Mr. Uanarumit said.
Lastly, with our experience and expertise, we are committed to manage our business towards the vision “Empowering Human Life through Sustainable Energy and Chemicals”, supporting and creating happiness to all Thais. Mr. Uanarumit concluded.