Petrol announced that rating agency Standard and Poor’s (S&P) has assigned an environmental, social, and corporate governance (ESG) rating of 56 to the company. It is one of the first Slovenian companies listed on the stock exchange to obtain an ESG rating and its score is above the global oil and gas sector average of 54.
President of Petrol’s Management Board Nada Drobne Popovic said that the obtained ESG evaluation score reflects Petrol’s commitment to meeting the environmental, social and governance standards. Despite being a part of the hydrocarbon value chain, the company is committed to reducing its carbon footprint and increasing investments in renewable energy and other energy transition projects.
S&P Global Ratings pointed out that Petrol’s adequate preparedness reflects its agility in adapting and responding to a volatile business environment, also during the pandemic and the energy crisis. According to S&P, Petrol endeavours to build a more resilient business portfolio by offering clean energy and performing other activities focused on the energy transition. S&P’s ESG evaluation represents an assessment of a company’s ESG strategy and ability to prepare for potential future risks and opportunities. The ESG evaluation can cover assessments of corporate entities, banks and insurers, as well as public finance entities.
