New Delhi: Hindustan Petroleum Corporation Limited (HPCL) has informed the stock exchanges that SES ESG Research Private Limited has independently assigned an Environmental, Social and Governance (ESG) rating of 56.3 to the company for 2026.
The rating was disclosed by HPCL on September 26, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to the rating report issued by SES ESG Research, HPCL’s ESG score stood at 56.3 in 2026, compared with 62.2 in the previous year.
HPCL Clarifies It Did Not Engage ESG Rating Agency
HPCL has specifically clarified that it did not engage SES ESG Research Private Limited to conduct the ESG assessment.
The rating report was independently prepared and finalised by the agency based on publicly available information for 2025-26. HPCL said the assessment was carried out without any consultation with the company.
This means the rating was not a commissioned ESG assessment or review undertaken at HPCL’s request.
Key details of the ESG assessment:
- Company: Hindustan Petroleum Corporation Limited
- ESG rating provider: SES ESG Research Private Limited
- ESG score for 2026: 56.3
- Previous-year score: 62.2
- Assessment basis: Publicly available information for 2025-26
- HPCL engagement: No
- Consultation with HPCL: None
- Disclosure date: September 26, 2026
- Regulatory provision: Regulation 30 of SEBI LODR Regulations, 2015
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SES ESG Research Follows Independent Assessment Model
SES ESG Research Private Limited is a SEBI-registered Category-II ESG Rating Provider and operates under a ‘Subscriber Pay’ model.
Under the assessment disclosed by HPCL, the agency independently evaluated the company using information available in the public domain rather than information gathered through a consultation with HPCL.
The distinction is important because the assessment was not commissioned by HPCL.
HPCL Discloses ESG Rating to Stock Exchanges
HPCL’s regulatory filing provides investors and other stakeholders with details of the external ESG assessment.
The company has disclosed the rating and the agency’s report while clearly stating that it had not engaged SES ESG Research for the assessment.The disclosure was made under Regulation 30 of the SEBI LODR Regulations, 2015, which requires listed companies to communicate material developments to stock exchanges.
HPCL ESG Score Declines From Previous Year
According to the SES ESG Research report, HPCL’s ESG score for 2026 was 56.3, compared with 62.2 in the previous year.
The difference represents a decline of 5.9 points in the reported ESG score.
However, since the assessment was independently conducted by SES ESG Research using publicly available information and without consultation with HPCL, the score reflects the rating agency’s own assessment methodology and should be viewed in that context.
About Hindustan Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited (HPCL) is a Maharatna Central Public Sector Enterprise under the Ministry of Petroleum and Natural Gas. The company operates across the oil and gas value chain, including petroleum refining, fuel marketing, pipelines and other energy-related businesses, with a nationwide presence.
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