Dr Al Mulla launches the report with other staff
'Green' investment drives Qapco progress
Doha, June 17, 2014
Investment in environmental management projects have allowed Qatar Petrochemical Company (Qapco), one of the leading petrochemical powerhouses in the region, to reduce flaring by 80 per cent, a top executive has said.
Launching Qapco's second public annual sustainability report, vice chairman & chief executive officer Dr Mohammed Yousef Al Mulla said: “At QAPCO, sustainability drives progress. Our Sustainability Strategy translates into tangible results and improvements on many fronts. For instance, over the past three years, Qapco has invested in environmental management projects that have allowed us to reduce our flaring by 80pc, reduce our greenhouse gas emissive intensity by 20pc and reduce water consumption intensity by 17pc.”
The report, which centres on the theme of putting sustainability into action and growing stronger as a result, is part of the company’s participation in the Qatar Energy and Industry Sustainable Development Industry Reporting (SDIR) Programme under the patronage of Dr Mohammed bin Saleh Al Sada, Minister of Energy and Industry.
Qapco’s 2013 sustainability report aligns with the most widely used standard for sustainability reporting, the Global Reporting Initiative (GRI). Qapco has adopted the newest GRI G4 guidelines and achieved a materiality matters certification from the GRI.
Qapco reports on more than 125 key performance indicators covering the whole scope of Qapco’s operations.
Dr Al Mulla stated: “Our journey towards understanding and communicating our impacts is moving forward with more energy and direction than ever before. As a responsible corporate citizen, we are taking action in order to shape a promising outlook for the future generations, by managing our impact with all our stakeholders and by focusing on optimizing our resources. Growing stronger is not only a representation of our past success, but also a signal of our future as we progress with putting sustainability into action”.
Dr. Al Mulla praised the role of the SDIR by saying: “We are proud to participate in the SDIR Programme in order to propel sustainable development within our company. The SDIR Programme catalyzes our company and the sector’s leadership on sustainability by providing a platform for collaboration and comparison.”
2013 was a landmark year for Qapco, as the company's performence improved in many areas including environmental efficiency, production, and community investment.
2013 was marked by the full year of operations of Qapco’s new LDPE 3 plant, which contributed to increase Qapco’s total LDPE production by approximately 40pc, and resulted in Qapco achieving its highest ever polyethylene production, reaching 1.282 million tonnes, further strengthening Qapco's leadership on the global petrochemical scene. As production reached new heights, Qapco's revenues increased by 15.6pc. -TradeArabia News Service