PIC Releases its 2020-2021 Sustainability Report
PIC CEO Eng. Mutlaq Rashid Al-Azmi announced that the Company has released its sustainability report for 2020-2021 which emphasizes the adherence to the concept of sustainable growth as an important pillar of its strategy and KPC’s strategy.
Al-Azmi said, “This report highlights the company’s efforts to achieve sustainability in different areas over the period (April 1, 2020 – March 31, 2021), which was marked by a new global threat “Corona pandemic” a challenge for companies in managing their operational resources and facilities.
He added the report reviews the main activities that helped the company to overcome challenges during the pandemic as well as the most significant efforts made in the three key areas of sustainability which are environmental, social, and economic.
Al-Azmi noted that the report discussed the company’s response during the total curfew that the country experienced, how to continue business without interruption while maintaining employee safety and security, and how to handle the gradual return of employees to workplace.
“The pandemic was one of the motivating factors for both company and employees to continue development by integrating sustainability into the company’s business to create a sustainable business model that takes economic, environmental and social factors into account” , Al-Azmi stated.
According to Al-Azmi, the report analyzes the company’s performance on several environmental aspects, including “energy consumption, carbon dioxide emissions, the disposal of wastes and pollutants, etc. “, as well as the possibility of recycling plastic waste into petroleum products, which would be a valuable and positive initiative for Kuwait’s environment.
Socially, the report reviews the performance of the company in the field of human development, one of the most crucial components of success. In this regard, the following programs and initiatives were implemented:
- On Job Competencies Development “OJCD” Program which is designed to create a roster of in-house experts who function as a centralized knowledge sharing platform for PIC to minimize knowledge gaps.
- Youth Empowerment Leaders “YEL” initiative which is a first of its kind in the oil industry, aims to enhance youth participation in achieving the company’s objectives and aspirations.
Additionally, the report covers PIC’s contributions to the local community and future plans.
In this report, the company discusses its efforts to develop contract life cycle work mechanisms and its performance supporting Kuwait’s economy during the pandemic. Additionally, it discusses the company’s approach to innovation and its key plans in this field.
In conclusion, Al-Azmi said that the Petrochemical Industries Company is on track to attaining its strategic objectives , which include sustainability as a key aspect of its identity and a significant part of its future growth.