The Good Balita

Petron Corporation has affirmed its standing as an exceptional corporate organization, after it became the only Philippine company to place in the 1st Asian Sustainability Ratings.

The country’s oil industry giant placed 26th among 200 of the largest Asian companies.

The Asian Sustainability Ratings is anchored on CSR Asia’s proprietary research. Based on sustainability disclosure, it ranks about 200 largest listed companies in 10 key markets operating across Asia-Pacific. The covered countries are Australia, China, Hong Kong, India, Japan, Malaysia, Pakistan, Philippines, Singapore and Thailand.

“We understand that in order to uphold our leadership in an increasingly competitive industry, we need to find the best balance between achieving business results and looking after the community and the environment,” Petron chairman and chief executive officer Ramon S. Ang noted.

In the process of propelling its business to higher grounds, Ang noted that the company puts “emphasis on accountability and responsiveness to our stakeholders.” Petron launched its first Sustainability Report in May this year, and this enabled it to achieve level B application of the international sustainability reporting guidelines of the Global Reporting Initiative (GRI).

Petron added that it “is committed to progress to higher level reporting and verification of its report in the future as it joins the leading companies worldwide in undertaking sustainable corporate practices in a transparent and responsive way.”

For such recognition, it was noted that corporate organizations have been ranked based on 51 indicators, sub-categorized under six indicator section headings, namely: governance and policy; strategy and communication; marketplace and supply chain; workplace and people; environment; and community and development.

 

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