Qatar Petrochemical Company (QAPCO) Q.S.C., one of the leading petrochemical powerhouses in the region and a pioneer in petrochemical production, celebrated the launch of its second public annual sustainability report.
This report, which centers 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 HE 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.
Sustainability reporting is part of QAPCO’s ongoing commitment to supporting sustainable development through measurement, management, and reporting of the company’s environmental, economic and social impact. In accordance with its commitment to transparency, in 2013 QAPCO reports on more than 125 key performance indicators covering the whole scope of QAPCO’s operations
Commenting on the role that sustainability plays at QAPCO, Vice Chairman & Chief Executive Officer, Dr. Mohammed Yousef 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”.
During the launch of the report, 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.”
Sustainability encompasses QAPCO’s strength and ongoing development as a company. Dr. Al Mulla commented on some the outcomes of the company’s sustainability programs by saying: “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 80%, reduce our greenhouse gas emissive intensity by 20% and reduce water consumption intensity by 17%.”
2013 was a landmark year for QAPCO, as in terms of performance the company has 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 40%, 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 15.6%.
Growth defines QAPCO’s 2013 success and positions the company to achieve its vision of becoming a global leader in petrochemicals. As demand for QAPCO’s products increases, the company will continue its pursuit of excellence by focusing on reliability and safety.
Through almost 40 years of operations, QAPCO safety performance has improved to be at world-class standards. In 2013, QAPCO celebrated 15.4 million exposure hours without lost time incident (LTI) for employees, and achieved its strongest safety performance on record. QAPCO places the safety of every person at its facilities as its top responsibility and priority and is committed to ensuring that all employees and contractors fully embrace QAPCO’s safety culture.
In 2013, QAPCO also strongly supported local SMEs, by raising its local procurement ratio to 81%. QAPCO developed sustainable procurement policies based on the belief the doing business with local suppliers and creating long-term partnerships holds many advantages. Therefore, where feasible, QAPCO preferences Qatar-based suppliers because QAPCO sees the value it creates for the company, the SMEs, and the State of Qatar. Contributing to the sustainable growth and diversification of the local economy is essential for QAPCO.
QAPCO’s successful journey rests on the hard work and expertise developed by local talent. National leadership is one of the driving forces of QAPCO and gives the company its cultural identity. In 2013, in alignment with the Qatar National Vision 2030’s objectives, QAPCO continued to support national talent and to shape the leaders of tomorrow and registered a Qatarization rate of 30.2%.
QAPCO’s community outreach activities are growing stronger every day as the company dedicates more time and resources to support and engage with its community. Making a difference is the key driver of QAPCO’s CSR programs and the company increased its community investment by 164% in 2013, by supporting three key areas: employee and family welfare, education, and sports. QAPCO believes that contributing to Qatari society is part of its license to operate.
Research is also part of QAPCO’s commitment to improving the impact of its products by generating new applications and supporting Qatar’s knowledge based economy. In 2013, through collaboration with local and international partnerships, QAPCO’s research and development team was digging deep into the potential applications for petrochemical products now and into the future. QAPCO uses focused partnerships with Qatar’s most prominent universities as the launching point for its research activities.
During the launch of the report, Mr. Yousef Abdulla Al Rabeeh, Chief Operations Officer of QAPCO, one of the drivers of sustainable practices in the company, said:” I would like to thank all our teams at QAPCO who contributed to the production of this report. Sustainability starts with our employees and everyone is aware of the role they play in driving QAPCO forward. Fully engaging our employees leverages our sustainability initiatives. Sustainability is about doing business the right way, looking beyond profit, building relationships and trust with our communities, by embedding sustainability within our operations and by putting sustainability into action every day.”
Sustainability management is an ongoing action that allows QAPCO to realize new opportunities for growth from engaging its employees and stakeholders and creating shared-value along the way. QAPCO is moving forward with many initiatives for stakeholder engagement, knowledge building, and performance management.
Materiality plays a central role in defining the report’s content and the methods for prioritizing the topics that are managed on a strategic level.
The full English version of QAPCO’s 2013 sustainability report titled “Sustainability in Action” is now posted on the company website along with an executive summary in Arabic.
Thursday, June 19- 2014 @ 11:36 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.