Public Joint Stock Company "Ukrnafta" has initiated the development and comprehensive implementation of environmental, social, and governance (ESG) principles within the company’s business processes, reported the director of "Ukrnafta" Sergey Koretsky on Facebook on Friday.
According to him, the initiative is being carried out with the support of the U.S. Agency for International Development (USAID) through the Energy Security Project (ESP).
"It is planned to calculate greenhouse gas emissions, identify ways to reduce the company's impact on the environment, and begin preparing systematic sustainability reporting in accordance with international standards," the CEO wrote.
The next step will involve developing a green transition strategy and implementing decarbonization projects.
"Energy transformation is a natural path for 'Ukrnafta'. The focus on decarbonization is a necessity and a response to modern market and societal demands, aligned with Ukraine's Euro-integration course," emphasized Koretsky.
"Ukrnafta" is the largest oil production company in Ukraine and operates the national network of gas stations. In March 2024, the company took over the management of Glusco's assets and currently operates a total of 545 gas stations – 460 owned and 85 under management.
The company is implementing a comprehensive program to revitalize its operations and update the format of its gas stations. Since February 2023, it has been issuing its own fuel vouchers and "NAFTAКарта" cards, which are sold to legal and physical entities through LLC "Ukrnafta-Postach".
The largest shareholder of "Ukrnafta" is the National Joint Stock Company "Naftogaz of Ukraine," holding a stake of over 50%+1 share. In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the state ownership of corporate rights in the company, previously owned by private shareholders, which is now managed by the Ministry of Defense.