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’s score of 59 against an industry average score of 39 on DJSI platform. This benchmarking is a 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 the 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) ratings 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 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 the 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 the number of questions and depth of information demanded.