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Ventspils nafta termināls ranks in platinum category in the Sustainability Index

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Ventspils nafta termināls ranks in platinum category in the Sustainability Index

june 11, 2015 / News

Ventspils nafta termināls Ltd (VNT) has received the highest, platinum evaluation from experts in the Sustainability Index 2015. VNT is the third company in Latvia to be in the platinum category, thereby attesting high performance in corporate responsibility and sustainability in five categories: strategy, work environment, market relations, environment and the society or local community.

 “VNT is purposefully investing financial resources and knowledge into the improvement of labour safety and environmental protection. We are pleased that within three years, since we started participating in the Sustainability Index, we are one of the three companies in Latvia which efforts are being recognized with an award in the ‘platinum’ category, ,” says the Managing Director of VNT Lars Pantzlaff, emphasizing that companies that have fully integrated the concept of corporate responsibility in their daily business can qualify for the highest recognition within the Sustainability Index evaluation,  

VNT has defined three main strategic directions in its environmental policy – to constantly and carefully assess and analyse possible risks in order to assure safe operations; to purposefully reduce the company’s resource consumption, as well as to invest in environmental awareness.

VNT has improved its performance in the Sustainability Index every year by perfecting its corporate responsibility and sustainability strategy. In the first year of participation, experts ranked the company in the ‘silver’ category. Last year it had improved its performance and ranked solid ‘gold’, but this year VNT is one of the three Latvian companies that have received ‘platinum’ evaluation.

The Sustainability Index has been organised in Latvia already for the sixth year. 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.

Methodology of the Sustainability Index of Latvian companies is based on experience the most influential global indices – Dow Jones Sustainability Index and Business in the Community CR Index – by taking into account the bar set by the corporate responsibility standard ISO 26000 and the Global Reporting Initiative (GRI) G4. The localised index evaluates performance of companies in line with economic, social and environmental issues important exactly for Latvia, at the same time representing an internationally recognised understanding of corporate responsibility and sustainability criteria.

 

About Ventspils nafta termināls

VNT provides transit services – receipt, storage and handling of crude oil and petroleum products that come by pipelines, rail tank cars and tankers. VNT is a technologically advanced terminal and the largest crude oil and petroleum products transhipment company in the Baltic States with a total tank 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 business groups in Latvia. JSC Ventspils nafta is the group's parent company, which manages the investments in group companies, contributing to the total value and appreciation of each individual company.

 

Additional information:

Elīna Dobulāne, Communications Consultant

JSC "Ventspils nafta"

Telephone: +371-25959447

E-mail: elina.dobulane@vnafta.lv

www.vnt.lv/en/