India, October 28, 2022 : Bharat Petroleum Corporation Limited (BPCL) a ‘Maharatna’ and a Fortune Global 500 Company has once again achieved the No.1 rank in Indian oil and gas sector for its sustainability performance in the 2022 edition of the S&P Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment (CSA) rankings.
This is the 3rd consecutive year that BPCL is at the top of the DJSI Indices in India having achieved a score of 65 percentage points, against an industry average score of 31 which is far better than last year score of 59 against an industry average score of 39 on DJSI platform. This benchmarking is complete assessment of economic, environmental and social criteria with a strong focus on long-term shareholder value.
BPCL is creating a vibrant ecosystem for green energy transition and realize its aspirations for achieving Net-Zero emissions. BPCL is proactively taking various initiatives in implementing low-carbon product technologies such as 1G & 2G Bioethanol, Compressed Biogas, Biodiesel, EV charging corridor, Rainwater Harvesting, Addition of plantation using Miyawaki and seed bombing techniques, Solarization of 50 % retail outlets by 2025 and increase in renewable energy portfolio with target additions to reach 1 Gigawatt (GW) by 2025, and 10 GW by 2040 Etc.
The DJSI gives us the unique opportunity to provide a more in-depth and complete picture of company’s alignment to ESG. Selected results of the DJSI are also shared on the Bloomberg Professional platform, making them accessible to a growing number of investors. Dow Jones Sustainability Indices (DJSI) rating are increasingly being used in innovative new products for investors, such as the S&P 500 ESG, S&P Europe 350 ESG, S&P Global 1200 ESG etc.
BPCL has always believed that it is essential to incorporate sustainable practices for each of their key sustainability development issues with defined targets and indicators.
With a focus on sustainable solutions, the company has been on the forefront when it comes to collaborating with government ministries, nonprofit organizations and other implementing agencies to achieve a sustainable development.
The organization believes in creating a healthy and sustainable environment, not only for the society, but also to create a safe and secure workplace.
BPCL’s priority has always been to enhance energy and operational efficiency, improve processes and technologies which helps to reduce the impact on the environment.
DJSI World Index comprises of top 10% of the largest 2,500 companies by market capitalization in the S&P Global Broad Market Index based on long-term economic and ESG factors. United Nations Environment Program Finance Initiative (UNEP FI), calls the DJSI assessment as the most rigorous assessment in terms of number of questions and depth of information demanded.
A Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the elite club of companies having greater operational & financial autonomy.
Bharat Petroleum’s Refineries at Mumbai & Kochi and subsidiary Bharat Oman Refineries Ltd., at Bina, Madhya Pradesh have a combined refining capacity of around 37 MMTPA. Its marketing infrastructure includes network of installations, depots, retail outlets, aviation service stations and LPG distributors. Its distribution network comprises around 18,000 Retail Outlets, 6,600 LPG distributorships, 733 Lubes distributorships, 123 POL storage locations, 52 LPG Bottling Plants, 58 Aviation Service Stations, 3 Lube blending plants and 4 cross-country pipelines.
With a focus on sustainable solutions, the company is developing a vibrant ecosystem. Bharat Petroleum has been partnering communities by supporting innumerable initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With ‘Energising Lives’ as its core purpose, Bharat Petroleum’s vision is to be the most admired global energy company leveraging talent, innovation & technology.