SOCAR’s Petkim enters top 10 in ESG rating

By Trend

Petkim petrochemical complex of Azerbaijan’s state oil company SOCAR has entered top 10 in Environmental, social, and governance (ESG) rating of Sustainalytics, an independent audit company, Trend reports with reference to SOCAR.

Petkim has ranked 8th among 206 companies in Commercial chemicals risk rating.

SOCAR Turkey’s CEO Zaur Gahramanov noted that SOCAR Turkey has always prioritized sustainable production.

“After evaluating our performance and position in the ESG rating context, we worked out plans to develop SOCAR Turkey and the group companies. We first started to create and develop infrastructure in the holding and then in our subsidiaries. Petkim’s ESG rating shows the importance of our efforts to create infrastructure for sustainable production and to ensure integration,” he said.

Sustainalytics, a Morningstar Company, is a leading independent ESG and corporate governance research, ratings and analytics firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 25 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors.

Petkim is the first and the sole integrated petrochemical facility in Turkey. It is the largest exporter in the Aegean region. Petkim’s production capacity is 3.6 million tons per year. The petrochemical complex produces around 60 different types of products and exports to 78 countries. The complex meets about 20 percent of Turkey’s demand for petrochemical products.