Dow Jones rates Thai Oil tops in sustainability
The Dow Jones Sustainability Index has ranked Thai Oil Plc. number one in the world in the category of Oil & Gas Refining and Marketing. Thaioil took the top ranking for the seventh time, underscoring the company’s consistently impressive performance in pursuit of sustainability.
“The achievement reflects our company’s outstanding professional performance in achieving its vision of, ‘Empowering Human Life through Sustainable Energy and Chemicals’,” said Noppadol Pinsupa, Chief Executive Officer and President, Thai Oil Plc.
“Thaioil is proud of this global success. During the past year, with all the obstacles and challenges we have faced, we have maintained its social contributions and sustainable business direction,” he added.
Thaioil was founded in 1961 and is part of the PTT Group, the partially privatized state-run energy conglomerate. Listed on the Stock Exchange of Thailand, it is the country’s largest oil refinery.
Dow Jones says that its “Sustainability World Index comprises global sustainability leaders as identified by S&P Global through the Corporate Sustainability Assessment (CSA). It represents the top 10 percent of the largest 2,500 companies in the S&P Global BMI (Broad Market Index) based on long-term economic, environmental and social criteria.”
In June, Thaioil made another move towards sustainability when it acquired a stake in Versogen, a U.S.-based startup that specializes in production of “green hydrogen.”
Green hydrogen is made by splitting water into hydrogen and oxygen through processes that use renewable energy. Versogen uses solar and wind power in producing its green hydrogen, which is then sold to industry.
The company is also eyeing to use green hydrogen to the lower the cost of manufacturing hydrogen fuel cells. As an environmentally friendly feedstock, it can help Thailand eventually achieve its carbon reduction goals.
Photo courtesy of https://www.thaioilgroup.com/