KazMunayGas ranks first in the Environmental Transparency Rating
KazMunayGas NC (hereinafter — KMG, the Company) took the first place in the Eurasian Environmental Transparency Rating of Oil and Gas Companies. The 2019 rating included 14 oil and gas companies in Kazakhstan with the volume of hydrocarbon production of more than half a million tons as reported by the Ministry of Energy of the Republic of Kazakhstan.
The objective of rating is to promote the rational use of hydrocarbon resources, protect environment and run socially responsible business.
KMG once again confirmed the title of the most environmentally friendly and responsible company in Kazakhstan. It topped the Environmental Transparency Rating for the third year in a row. The company continues its environmental responsibility path, develops the environmental management system, and cooperates with all its stakeholders. The company annually publishes information on all environmental aspects in the Annual Report, Sustainable Development Report, as well as updated information is posted on the official website of the company.
In addition, a separate research was made among 17 KMG subsidiaries (at least a 50% interest). The rating included not only upstream operations, but also refinery and transportation companies. The first place was taken by JSC Intergas Central Asia. It should be noted that the rating among subsidiaries and affiliates is a voluntary initiative of KMG. Its purpose is to increase environmental transparency and “internal competition” of subsidiaries.
The study was initiated by the Russian World Wide Fund for Nature (WWF) and CREON group in partnership with the United Nations Environment Program (UNEP), CREON Capital and the National Rating Agency (NRA) of the Russian Federation. This year, the rating expanded its coverage and became “Eurasian” as comprised companies from Kazakhstan, Russia and Azerbaijan. At the next stage, it is planned to include Uzbekistan and Turkmenistan.
Click here to see rating results.