Leading oil company Petron Corp. was recognized as one of the top three most sustainable corporations in the Philippines by Channel News Asia, a Singaporean English language Asian cable television news agency and news channel.
Petron earned the recognition from the Channel NewsAsia Sustainability Ranking for championing sustainable business practices and corporate social responsibility.
The 2015 Channel NewsAsia Sustainability Ranking is a collaborative effort of regional broadcaster Channel News Asia and research firms CSR Asia, and Sustainalytics.
The ranking recognizes 100 publicly-listed Asian companies who have put up exceptional programs to address corporate sustainability issues, such as environmental and supply chain management and transparent governance (ESG).
It also highlights top 20 companies and top 3 businesses per country.
Countries covered in the ranking include China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Thailand, and Japan.
“As an oil refining and marketing company based in the Philippines, Petron’s environmental management system is certified to ISO-14001 standard with periodic monitoring and auditing of its environmental performance,” the Sustainability Ranking stated in its website.
According to Petron, the recognition affirms its commitment to continue to improve the way it does business and make a positive impact in society and the environment.
Petron runs a 180,000 barrel-per-day refinery in Bataan, the first facility of its kind to reach the internationally-recognized Integrated Management System (IMS) standard.
All of oil company’s 30 depots and terminals are likewise IMS-certified, underscoring strict adherence to global standards on process quality, workplace safety, and environmental management.
Petron is also the first and only oil company in the country to adopt the ISO-14001 Environmental Management Systems in its service station network, ensuring the safety and environmental protection of host communities.
Earlier, Petron won the prestigious Gold Award for Best Environmental Excellence during the 5th Global CSR Awards organized by Singapore-based The Pinnacle Group International.
It earned the top award “for integrating environmental performance into the company’s sustainable development strategy and delivering proven business benefits.”
The company was cited for its environmental performance in key areas, namely, energy efficiency, carbon footprint reduction, and waste management across its supply chain.
The Channel News Asia Sustainability Ranking was launched during the recently concluded CSR Asia Summit in Kuala Lumpur, Malaysia—the leading corporate social responsibility conference in Asia.