Awards received for Best Annual and Best Sustainability Report for 2020
On Thursday, 17 November 2021, Petrol received the award of the Finance newspaper for the best annual report among companies that are public interest entities under the Companies Act, and the award for the best annual report in sustainable development. The awards were accepted by Nada Drobne Popović, President of the Management Board of Petrol, and Marta Svoljšak Jerman, Director of Sustainable Development, Quality and Safety.
Once again among the best in annual reporting
As a publicly listed company, Petrol regularly and comprehensively informs investors and other stakeholders about its operations throughout the year. The annual report completes and combines a comprehensive overview of operations. Upon receiving the award, Petrol's President of the Management Board, Nada Drobne Popović, proudly said: "The Best Annual Report award proves that Petrol has excellent employees in all areas, who prepare all the necessary reports on the operations of such a large and complex company. On this occasion, special thanks in particular go to our colleagues in Accounting, Controlling, and Corporate Communications. One of the key messages of the annual report was that the Petrol Group can achieve good business results even in difficult economic conditions, and despite the demanding measures due to the Covid-19 pandemic. We are continuing to achieve them this year as well, which will certainly be reflected in the annual report for 2021. Honesty, truthfulness, and transparency of reporting are among the basic commitments and norms of Petrol's operations. I believe that for the stable operation of the company, it must be recognised in the environment as penetrating, open, and trustworthy, which is a competitive advantage, especially in difficult economic conditions."
2020 was also marked by the Covid-19 pandemic at Petrol, which had an extremely strong impact on our way of life, and consequently, on the way the economy operates. A large part of the annual report is, directly and indirectly, dedicated to this. At Petrol, we have closely monitored the spread of the coronavirus since its outbreak, and have been taking appropriate measures at operational organisation level to ensure business continuity, all in the interest of the health of our employees and customers. The emergence of the pandemic has accelerated trade development trends. In 2020, Petrol saw a high growth of users in all digital solutions we offer, from online shopping and contactless payment to the Na poti ("On the Road") application. We adjust our offer to the demand of our customers, and at the same time, constantly inform them about the novelties in our line of products. Matija Bitenc, Member of the Management Board responsible for finance, information and risk, says: "The environment in which the Petrol Group operates is facing major changes. The energy transition to a low-carbon society and the development of new technologies bring the transformation of established ways of producing, selling, and using energy. Petrol is committed to the transition to green energy, and is making significant investments. We will continue to ensure the supply of hydrocarbons to the market while co-creating the opportunities that the energy transition brings. The new Strategy until 2025 represents our response to the challenges faced by energy and trade. The vision of the Petrol Group is to become an integrated partner in the energy transition with an excellent customer experience. Together we are creating a low carbon future. We see the bigger picture: a safe and healthy home for ourselves and future generations. And we communicate all this to our stakeholders through our annual report."
Best in sustainable reporting
Due to its size, strategic importance for the country and the region, the size of the stakeholder network, and the nature of its activities, the Petrol Group touches many aspects of sustainable development. Sustainability and reporting always focus on the importance of areas and their priorities. Marta Svoljšak Jerman, Director of Sustainable Development, Quality and Safety: "This is not easy, as there are many challenges, opportunities, and interests. Petrol must maintain its economic strength, and social agility and sensibility, while at the same time being one of the strategic leaders on the path to a net zero-carbon society. When reporting on sustainable development, we want to show the key dimensions of sustainable management and our strategic approach. As the sustainability report is complementary to the annual report, we place more emphasis on the environmental dimension, which is inextricably linked to decarbonisation. We highlight the ambitious greening of our energy mix, investment in the production of electricity from renewable sources, efficient use of energy for our own activities and the market, and a comprehensive transition to increasingly sustainable mobility. Of course, in the sustainability report, we could not avoid the extensive challenges posed by Covid-19 that demanded a comprehensive response from the Petrol Group, in which we succeeded."
With its strategy until 2025, the Petrol Group has committed itself to a decisive energy transition, with which it is co-creating a green future. It will invest EUR 244 million in the energy transition by 2025, reduce its carbon footprint by 40%, and have 164 MW of installed capacity of renewable energy sources (RES). Key highlights of 2020: they produced 98.5 GWh of energy from RES, which is almost 3% of the electricity consumption in households in Slovenia. In total, they achieved 150.1 GWh of energy savings, which is more than 50% of the total savings achieved in the final energy consumption of all energy suppliers in Slovenia. With an active policy of expanding the use of biofuels, they achieved high growth in RES in transport. In 2019, this share was just over 5%, and in 2020, it rose to 8.7%, while also increasing the overall reduction in emissions from 2.7% to 3.7%. By using biofuels, LPG, and electricity in transport, they reduced CO2 emissions in transport by 146,430 t in 2020 (absorption of more than 167,000 trees), which is 75% more than two years ago. They are aware that closing circular loops is also an important approach to decarbonising the economy. That is why Petrol develops and manages water and material cycle management models, especially packaging.