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Repsol is world's most transparent oil company according to the Dow Jones Index
MADRID
Petroleumworld.com, Sept 05, 2008
For the third consecutive year, Repsol YPF is part of the selective world and European sustainability indexes DJSI World (Dow Jones Sustainability Index World) and DJSI STOXX, (Dow Jones Sustainability Index STOXX) retaining its maximum score of the previous year for transparency, human capital development and social impact on communities. Also, Repsol gets the highest possible score for health and safety in the workplace.The international Dow Jones indexes select, through a rigorous selection process, the companies with the best behaviour in economic, social and environmental terms.
Economically, Repsol YPF is consolidated as the most transparent company in the industry, obtaining maximum points for transparency and client relations. The company also saw a significant improvement in its exploration and production score.
Environmentally, it's worth noting that Repsol has for the first time obtained top marks in biodiversity, climate change strategy and environmental management.
In this sense, it is worth noting that Repsol YPF has undertaken a voluntary commitment to reduce its CO2 emissions by a million tonnes between 2005 and 2012 as it has had a Carbon Management Plan since 2003.
The total score of the company is “best in class” for the industry in the social dimension, highlighted by the maximum possible score obtained for human capital development, social impact on communities and for health and safety in the workplace. In this area, aspects such as local practices, and the attraction and retention of talent are valued.
Its presence in the Dow Jones Sustainability Index further endorses Repsol's Corporate Responsibility Directive Plan 2007-09, which unites the company around ideas of transparency, commitment and corporate responsibility.
For the Chairman and Chief Executive Office of Repsol, Antonio Brufau, “the recognition confirms the wisdom of our policies in terms of corporate responsibility which is an intrinsic part of our business model and our way of interacting with society”.
The award adds to the recognition of Repsol in other indices which reward best practices in social responsibility, as are the FTSE4GOOD (Financial Times Stock Exchange Index).
The Dow Jones Sustainability Index is a family of stock market indexes whose components must prove the use of advanced practices in the different areas constituting corporate responsibility. In this way, the Dow Jones Sustainability Index assesses questions such as corporate governance, risk management, climate change strategy or the attraction and retention of talent, among other aspects. Only 10% of the 2,500 stocks which make up the Dow Jones Global Index, formed by companies traded on the world's principal markets, are part of the Dow Jones Sustainability Index after being subjected to a rigorous analysis and selection process.
Since its launch in 1999, the Dow Jones Sustainability Index has become one of the main examples of a trend known as sustainable or socially responsible investment. Some investors understand that good practice in social and environmental areas are good indicators of the quality of management and governance in a variable income security and, therefore an aspect which should be considered when building an investment portfolio.
Story from Petroleumworld
Petroleumworld 04 09 08
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