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Ventspils nafta terminal receives Gold in Sustainability Index

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Ventspils nafta terminal receives Gold in Sustainability Index

june 5, 2014 / News

In order to assess its corporate responsibility and sustainability performance, Ventspils nafta terminal (VNT) for the second year in a row participated in the Sustainability Index. According to the evaluation of the experts, through the last year VNT has made several significant improvements, moving up to the Golden category.

“Over several years we have purposefully worked to reach one of the best positions in Latvia regarding matters of occupational safety and environmental protection, therefore we are really pleased that our efforts have led to us being awared with the Golden category,” points out Lars Panclaff, Managing Director of VNT, simultaneously stressing that the granted award is equally a recognition for the contribution to all employees of the company.

VNT each year invests more than half a million euros into the measures for the environmental protection. "We are operating with petroleum products and are conscious about their potential hazards in our every day work. The consistent consideration of environmental aspects plays an integral role when thinking about the company’s long term business and its responsible management," emphasizes Lars Pantzlaff.

The VNT environmental policy defines three major strategic directions – careful analysis of all potential risks to avoid hazards; purposeful reduction of the company's resource consumption, as well as investment in the environmental improvements.

Sustainability Index in Latvia is being organized for the fifth year. Partners of the initiative are - Institute for Corporative Sustainability and Responsibility, Employers' Confederation of Latvia and Free Trade Union Confederation of Latvia.

Methodology of the Sustainability Index of the companies of Latvia is based on the most influential global index Dow Jones Sustainability Index and Business in the Community CR Index experience, taking into consideration the standard set by the corporative responsibility standard ISO 26000 and Global Reporting Initiative (GRI) G4 guidelines. Localized index assesses performance of companies according to economical, social and environmental matters crucial for Latvia, simultaneously representing internationally recognized understanding on criteria of corporative responsibility and sustainability.

About Ventspils nafta termināls

VNT provides transit services − the receipt of crude oil and petroleum products via pipelines, rail tank cars and tankers, as well as their storage and transhipment. VNT is technologically the most advanced and largest crude oil and petroleum product transhipment company in the Baltics with the total tank storage capacity of 1.2 million cubic meters.

51% of VNT is owned by JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R), which is one of the largest groups of companies in Latvia.  JSC Ventspils nafta is the Group's parent company, which manages investments into the companies within the Group, thus facilitating the growth in the overall value of the Group and its individual companies.

Elīna Dobulāne, Communications consultant

AS  Ventspils nafta

Phone: +371-25959447

E-mail: elina.dobulane@vnafta.lv

 

www.vnafta.lv