Dubai - Mubasher: Emirates National Oil Co (ENOC) said on Monday that it has launched its first Sustainability Performance Report with the region’s first sustainability performance index for the oil and gas sector in Middle East.
The move aims to chart and monitor ENOC’s economic, social and environmental performance which considers a mainstay of sustainability, the company added.
The report shows ENOC’s sustainability initiatives which are in line with the UAE Vision 2021, the Dubai Plan 2021, the Dubai Integrated Energy Strategy 2030 and the Dubai Carbon Abatement Strategy 2021.
Dubai’s oil and gas provider expands its operations to meet domestic energy demand sustainably over the coming five years.
The report evaluates ENOC Group’s sustainability performance based on 19 Key Performance Indicators (KPIs).
The KPIs were set according to a slew of workshops with key internal and external stakeholders and converted to an ENOC Sustainability Performance Index which is informed by the methodology of Dow Jones Sustainability Index.
Moreover, the report demonstrates a raft of strategic initiatives that are closely related to the UN Sustainable Development Goals (SDGs) 2030.
"As an organisation {ENOC Group}, we are committed to continuously improving our sustainability performance, which means we recognise positive change and adapt to it. As a testament to this belief, in 2016, we proposed the incorporation of the sustainability performance index in the Group’s performance score card," said CEO of ENOC Group Saif Humaid Al Falasi.
Sustainability performance has been a major consideration in the group's approach to do business for several years, Al Falasi added, noting that ENOC seeks to move beyond being an energy provider to deliver sustainable value to its shareholders, partners and employees.
In 2016, ENOC Group pumped $654 million investments into its businesses in an effort to shore up the local economy as its sales volume hit a new high of 247 million barrels.
This step is in line with ENOC’s vision of accomplishing industry leading performance which reflects the SDG on economic growth.
ENOC Group has managed to slash emission intensity from its operations by 15%, in addition to cutting waste generation by 1,500 tonnes from 2015.
Moreover, the group has increased its manpower by 20% over the by 20 percent over the last three years. Emirati workers make up 34% of ENOC Group's manpower.
In an attempt to diversify energy sources, ENOC is investing in alternative fuels such as Compressed Natural Gas and Biodiesel5 in order to provide cleaner fuels for its customers.
“We are working tirelessly to ensure that our operations follow sustainable consumption and production patterns as our efforts in the field of sustainability progress from compliance to a performance-based culture that drives performance from a triple bottom line perspective," Al Falasi commented.
