Slovenian energy firm Petrol has received an environmental, social, and corporate governance (ESG) rating of 56 from Standard and Poor's (S&P).

Petrol, a pioneer among Slovenian publicly traded companies to secure an ESG rating, achieved a score surpassing the global oil and gas sector's average of 54.

Nada Drobne Popovic, President of Petrol's management board, highlighted, "Our attained ESG evaluation score underscores our dedication to upholding environmental, social, and governance standards. Despite our involvement in the hydrocarbon value chain, we remain resolute in reducing our carbon impact and amplifying investments in renewable energy and other energy transition initiatives."

In its report, S&P Global Ratings emphasised that Petrol's commendable preparedness reflects its agility in adapting and responding to a dynamic business landscape, even amidst the pandemic and energy turmoil.

According to S&P, Petrol is actively engaged in constructing a more resilient business portfolio by offering clean energy solutions and undertaking additional ventures oriented towards the energy transition.

S&P's ESG evaluation offers an appraisal of a company's ESG strategy and its capacity to prepare itself for foreseeable future risks and opportunities. This evaluation extends to corporate entities, financial institutions, including banks and insurers, as well as public finance entities.

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Source: SeeNews