Hascol Petroleum Limited
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- HSSE (Health, Safety, Security, and Environment)
- Corporate Social Responsibility (CSR)
Environmental Achievements
- 7th Consecutive Year with Zero Lost Time Injury (LTI) and achieved 7.78 million Safe Man-Hours
- Engaged with an external Environmental, Social and Governance (ESG) Audit
Social Achievements
- Continued policy of offering internships and a trainee program
- Organized International Days (Women’s Day, World Happiness Day, etc.)
- Committed to UN Global Compact (UNGC) guidelines and principles
- Made a total contribution of PKR 34.8 billion to the national exchequer
Governance Achievements
- Robust corporate governance processes to enhance accountability and transparency
- Continuous efforts to improve governance frameworks and promote ethical conduct
- Compliance with all applicable corporate and sector-specific regulations
Climate Goals & Targets
Environmental Challenges
- Unprecedented inflation and historic depreciation of the Rupee
- Widespread fiscal economic deficit
- Supply chain disruptions, elevated fuel and borrowing costs, weakened consumer demand
- Reduced industry fuel demand and heightened risks to supply security
- Liquidity crunch due to outstanding banking obligations, overdue payments, and limited working capital
Mitigation Strategies
- Support from Vitol (major shareholder and supplier)
- Support from key banks
- Restructuring of bank debt to inject fresh equity
- Corporate revival plan on track to ensure adequate liquidity and working capital
Supply Chain Management
Responsible Procurement
- Supplier analysis conducted for procurement decisions based on best value