To evaluate performance in terms of corporate responsibility and sustainability, companies of the JSC Ventspils nafta Group participated in the Sustainability Index. Ventspils nafta termināls Ltd obtained the highest platinum evaluation for the first time, LatRosTrans Ltd climbed up from bronze category to silver and received the Champion of Sustainability award, demonstrating the fastest growth in all criteria. In turn JSC Latvian Shipping Company, participating in the Sustainability Index for the first time, ranked in silver category.
“Participation in the Sustainability Index is of great value for our Group’s companies, as it is an opportunity for impartial evaluation of our corporate responsibility and for realisation, which are the areas in need of improvements. The experience of Ventspils nafta terminals Ltd shows that a company can achieve excellent results in corporate responsibility and sustainability matters within three years. Recommendations given by experts in the previous years have helped employees and the management to purposefully make improvements and set new development goals for each company individually and for the Group in general,” explains the Chairman of the Management Board of JSC Ventspils nafta – Robert Kirkup, pointing out that the good results are a joint achievement of all employees.
R.Kirkup emphasizes that for companies of the JSC Ventspils nafta Group, as leaders of their niche, it is important to take corporate responsibility not only for the sake of promoting their own business growth but also to act as role models for other Latvian companies, encouraging them to assess their responsibility towards the environment, the society, employees and suppliers.
The Sustainability Index has been organised in Latvia already for the sixth year. It is a strategic management tool based on an internationally recognised methodology, helping companies to assess sustainability of their activity and corporate responsibility level in five areas – strategy, market relations, work environment, environment and society. Partners of the initiative are the Institute for Corporate Sustainability and Responsibility, the Employers’ Confederation of Latvia and the Free Trade Union Confederation of Latvia.
About JSC Ventspils nafta
JSC Ventspils nafta is one of the largest groups of companies in Latvia and it operates in the petroleum product transport, transhipment, storage and shipping sector. JSC Ventspils nafta is Group’s parent company, which manages investments in subsidiary companies by promoting Group’s joint values and growth in the value of each individual company.
JSC Ventspils nafta owns 51% in Ventspils nafta terminals Ltd, which is the largest crude oil and petroleum product terminal in the Baltic States; 66% in LatRosTrans Ltd, which is a Latvian-Russian joint venture in the Baltic States; 49.94% in JSC Latvian Shipping Company, which is among the largest vessel owners in the world in the medium-sized and handy tankers category.
Shares of JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R) are quoted in the Baltic Main List of the stock exchange NASDAQ OMX Riga since October 20, 1998.
Additional information:
Elīna Dobulāne, Communication Consultant
JSC “Ventspils nafta”
Phone: +371-25959447
E-mail: elina.dobulane@vnafta.lv
www.vnafta.lv/en/