S-Oil (010950.KS) has been named a "World Company" on Dow Jones' environmental, social and governance (ESG) rating index, the DJBIC, for 16 consecutive years since 2010, the company said Monday. S-Oil is the first and only refiner in Asia to earn the DJBIC World Company designation for 16 straight years.
The DJBIC is an index compiled annually since 1999 by S&P Global, the world's largest financial information provider, measuring sustainability factors such as supply chain management, environmental performance and human resources development across roughly 2,500 global companies.
S-Oil said it was selected for the DJBIC World list in recognition of exemplary management performance in ESG risk management, stakeholder communication and advanced carbon management. "We are working to enhance our ESG management capabilities by establishing a long-term sustainable management roadmap and pursuing key tasks such as responding to climate change, managing safety and environmental pollutants, strengthening employee competencies and expanding social contribution activities," an S-Oil official said.
Separately, S-Oil is advancing the "Shaheen Project," building the world's largest petrochemical facility at the Onsan National Industrial Complex in Ulsan with an investment of approximately 9.26 trillion won ($6.7 billion). The facility, targeted for completion this year, offers higher energy efficiency than competing plants and is expected to bolster S-Oil's sustainable management capabilities.
