'Future Strategy' in the Spotlight... S-OIL Publishes ESG Report for 19th Consecutive Year

Disclosure of Achievements in Climate Response and Safety Management

S-OIL has positioned the Shaheen Project as a future growth engine, with safety and ESG as the pillars of its sustainable management. Through its ESG report, the company once again presented its future strategy and management direction.

S-OIL (CEO Anwar Al Hejazi) announced on August 6 that it has published its ESG (Environmental, Social, and Governance) report for the 19th consecutive year, disclosing major achievements in climate change response, safety management, and compliance management.

Since 2008, the company has issued an ESG report every year, providing stakeholders with key activities and results in the areas of environment, society, and governance.

This year’s report was structured around five core issues, identified through a double materiality assessment reflecting both internal and external feedback as well as changes in the management environment: ▲ industrial safety and health management ▲ response to climate change ▲ management of environmental pollutants ▲ compliance and ethical management ▲ financial soundness and transparency. It also includes major risk factors, response strategies, and progress in each area.

To address climate change, the company is carrying out a variety of carbon reduction measures, including process optimization, the use of low-carbon utilities, adoption of hydrogen, carbon capture, utilization and storage (CCUS), and securing emission allowances. In addition, investments in environmental facilities have been expanded to further reduce emissions of air pollutants.

The report also introduced S-OIL’s efforts to transform its business structure for future growth. Through the Shaheen Project, the largest investment since the founding of the company, S-OIL aims to increase the proportion of its petrochemical business and strengthen its profit base in response to the era of energy transition.

In the area of industrial safety, the company explained that it is strengthening its accident-prevention-oriented safety management system by operating AI-based safety programs and behavior-based safety activities.

Compliance management was also highlighted as a major achievement. Since becoming the first company in the world to obtain ISO 37301 certification for its compliance management system in 2021, S-OIL has continuously maintained this certification. The company is also fostering a culture of ethical management through ongoing training on fair trade and ethical practices for its employees.

This year’s report further strengthened the ESG disclosure system. S-OIL enhanced its ESG disclosure processes and governance, and reorganized its ESG databook around high-interest information for stakeholders, making key content easier to access.

An S-OIL official stated, “This year’s report includes not only our ESG achievements, but also our efforts to enhance the disclosure system to respond to a changing reporting environment. We will proactively respond to both domestic and international ESG disclosure standards and work to further build trust with our stakeholders.”

S-OIL's 2025 ESG Report.

This content was produced with the assistance of AI translation services.