Mumbai: Hindustan Petroleum Corporation Limited (HPCL) has been assigned an Environmental, Social and Governance (ESG) rating of “Crisil ESG 60” by CRISIL ESG Ratings & Analytics Limited.
HPCL disclosed the development to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company clarified that it did not engage CRISIL ESG Ratings & Analytics Limited for the rating. The ESG assessment and report were prepared independently by the rating agency.
HPCL Receives Crisil ESG 60 Rating
The ESG rating reflects CRISIL ESG Ratings & Analytics Limited’s independent assessment of HPCL’s performance across key environmental, social and governance parameters.
ESG assessments broadly examine areas such as:
- Environmental sustainability practices
- Social responsibilities and commitments
- Corporate governance practices
- Transparency and accountability
- Sustainability-related business practices
The “Crisil ESG 60” rating represents HPCL’s position based on the parameters evaluated by CRISIL ESG Ratings & Analytics.
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Rating Prepared Independently by CRISIL
HPCL has specifically clarified that the company did not appoint or engage CRISIL ESG Ratings & Analytics Limited to undertake the ESG rating.
The assessment was independently prepared by the rating agency as part of its ESG evaluation initiative.
This distinction has been highlighted in HPCL’s regulatory disclosure to ensure clarity regarding the nature of the ESG assessment.
ESG Rating Disclosed Under SEBI Regulations
HPCL made the announcement in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
The disclosure provides details of the ESG rating assigned to the company and the independent nature of the assessment conducted by CRISIL ESG Ratings & Analytics Limited.
ESG Factors Gain Importance for Companies and Investors
Environmental, Social and Governance factors have become increasingly important in assessing the long-term sustainability and responsible business practices of companies.
ESG evaluations consider how organisations address environmental responsibilities, social commitments and governance standards.
For investors and other stakeholders, such assessments can provide additional information about a company’s approach to sustainability, accountability and responsible corporate practices.
HPCL Continues Focus on Sustainability
HPCL, one of India’s major energy companies, continues to undertake initiatives focused on sustainability and responsible business practices.
The ESG rating adds to the company’s disclosures around its environmental, social and governance performance and comes amid growing emphasis on integrating sustainability considerations into corporate strategies.
About HPCL
Hindustan Petroleum Corporation Limited (HPCL) is a Maharatna Central Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Government of India. The company operates across the oil and gas value chain, including refining, fuel marketing, lubricants, pipelines and other energy-related businesses.
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