GPIC issues Sustainability Report

Manama, Apr. 7 (BNA): The Gulf Petrochemical Industries Company (GPIC) has launched its Sustainability Report 2017. The biennial report highlights the 17 United Nations goals for sustainable development (SDGs) and follows the Global Reporting Initiative (GRI) framework and principles while listing the Company’s progress in the last two years as well as the objectives of sustainability. The launch came in line with the principles of the United Nations Global Compact (UNGC), the Principles on the Empowerment of Women and the Principles of the Food and Agriculture Trade (FAB), under the slogan "Together we do better". Company President Dr. Abdulrahman Jawahery presented the report to the Board of Directors during a recent meeting. GPIC Chairman H.E. Dr. Ahmed Al Sharyan said he was very satisfied with the report and its timely submission. He noted the Company's keen interest on the issue and its commitment to sustainable development practices that have become an integral part of their philosophy and strategy. Dr. Jawahery said he is proud of Bahrainis’ competence that contributed to the preparation of the report, which is of great importance to the Company. He said it contributes greatly to enhancing GPIC's ability to measure economic performance indicators, environment and social responsibility according to GRI guidelines. "We are UNGC members and this report reflects our progress in terms of the commitment and implementation of internationally agreed Global Compact principles.” He stressed the report has been reviewed to verify that it has achieved the "A" level in its application, which requires the institution's authentication to ensure that it achieves transparency, reliability and full disclosure covering the entire scope of the Company's operations. He said in line with its best practices, the Company highlighted performance indicators of the oil and gas sector, adding that sustainability is a key factor in GPIC's success over the years. “This is a journey that the Company has embarked upon for more than three decadesand today it is a strong lifestyle for all of us.” Dr. Jawahery said the management has shown a great commitment to the care of the environment, in addition to its keenness for the safety of its employees and its community. He spoke about the new methods adopted by the Company to deal with global climate change while driving the scope of work from a relatively limited approach to a broader strategy that includes the economy, society, the environment and governance. GPIC issued its first Sustainability Report in 2012, on the topic, "Our Workforce is Our Future", to express a perspective on the progress it achieved in implementing the 10 principles of the UNGC. The second Sustainability Report, "Building a greener future", was issued in 2014 In June 2012, GPIC signed the UNGC and officially announced its support for the implementation, support and activation of the 10 principles of the Global Compact on Human Rights, labour standards, the environment and corruption. In June 2012, the CompanyPresident wrote to UN SecretaryGeneral Ban Ki-moon announcing its full commitment to applying the Global Compact principles. He emphasized GPIC's intention to implement collaborative projects to advance the broader development goals of the United Nations, in particular the Millennium Development Goals. The UNGC is the world's largest voluntary corporate citizenship initiative designed to bring together corporate forces with United Nations agencies, the workforce and civil society to support environmental and social principles. GRI is a leader in consolidating sustainability reports by creating a special framework. The key principles of this initiative include balance, comparability, accuracy, timeliness and reliability.