Qatar: RasGas Unveils Industry-Leading Sustainability Report

RasGas Company Limited (RasGas) makes history today as the first Qatari energy company to issue a sustainability report.

The RasGas Sustainability Report 2009 details the actions that RasGas has been undertaking to improve its environmental, economic and social performance, while providing energy to meet increasing global demand. RasGas’ first-ever sustainability report was launched at the second annual Corporate Social Responsibility (CSR) Conference in Doha, of which RasGas is a key sponsor.

Speaking on behalf of RasGas, Acting Managing Director and Operations Group Manager, Hamad Mubarak Al Muhannadi said, “Over the last year, RasGas made great progress in formalising its commitment to sustainability as a goal that applies to every aspect of its operations.”

“As one of the world’s leading global energy providers, we are working towards managing our performance in a way that balances our obligations to achieve profits and dividends for shareholders with our responsibilities to society and the environment, in line with the Qatar National Vision 2030.” The RasGas Sustainability Report 2009 details how RasGas has reduced greenhouse gas emissions, led the industry in worker safety and exceeded its Qatarization targets.

The Report includes performance indicators in areas such as protecting people and the environment, and ensuring health and safety. The aim is to measure how well RasGas is complying with its responsibilities to shareholders, employees, customers, suppliers and other business partners, the communities in which its operates, and the environment.

This will enable RasGas to track improvements and identify areas in need of special attention. “With this Report RasGas seeks to demonstrate its commitment to transparency and accountability for all its actions and impacts, “said Brett Doherty, RasGas SHE – Safety, Health and Environment Group Manager, who delivered a keynote speech on behalf of RasGas at the conference.

“In preparing this Report we have followed the Global Reporting Initiative’s (GRI) G3 Guidelines, the leading international guidelines for sustainability reporting.”

Highlights of the Report include:

In 2009 RasGas achieved 112 per cent of its target to attract 100 Qatari nationals. •

RasGas increased its recycling performance to 65 per cent in 2009, maintaining its industry-leading status.

• In 2009 RasGas had the lowest lost time injury rate, leading the industry for the fourth consecutive year. •

RasGas was the lowest greenhouse gas emitter in the LNG industry (source: PTAI LNG Benchmarking). •

In 2009 RasGas launched Sunduk Al Kheir – the RasGas Charity fund. This new CSR initiative establishes a long-term programme to provide targeted support to those in need in the community.

• ‘Seventh Sense’, a best-practice business controls system, was launched by RasGas to help it identify and manage the operating, financial, regulatory and reputational risks inherent in its business processes.

In 2010 RasGas is applying to the United Nations Global Compact Initiative to join other leading companies in their journey to sustainability. Looking ahead, RasGas has introduced new performance indicators for sustainability reporting, such as committing to integrity, accountability and transparency; strengthening relationships with stakeholders; and initiatives and partnerships that will drive sustainability forward.

“As a management strategy, sustainability is a primary driving force behind operational excellence – from technical innovation to talent development – paving the way to greater business opportunity and higher shareholder returns,”said Doherty.

The second annual Corporate Social Responsibility Conference is organised by the Ministry of Business and Trade. It will examine the standards endorsed by the United Nations and aims to lay the necessary foundations for applying the principles of social responsibility to Qatari companies.

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Source: RasGas, September 29, 2010