Global Compact Initiative
IndianOil perceives sustainable growth as an opportunity to enhance its business processes and practices, enabling it to positively impact its entire scope of business. The Corporation’s values drive the belief that responsible businesses can be profitable, leading to investments in the technologies & products and new energy infrastructure that will help shape the low carbon future.
We see sustainable business practices as a defining element of competitiveness to maintain the Corporation’s status, equity and standing, both in the market and in the society in the coming decades. Our attention is on what we produce; how we buy and sell; how we affect the environment; how we recruit, train and develop our own people, how we invest in the community and respect the rights of people. IndianOil endeavors to develop its group businesses to deliver long-term strategic benefit and shareholder value by maximising synergies that sustainable development provides.
Our societal obligations stood out even in our formative years, while we supported the mission of the defence forces to preserve the integrity of the nation, kept the home fires burning in rural India, fuelled major transport undertakings and worked on being a `national trust for economic prosperity.’ The same obligations continue with renewed vigour, as we strive year after year, to grow our business to meet the Nation's energy needs, and at the same time increase stakeholder value, exploring the prospect of alternative fuels and engaging people for optimum utilization of energy.
The Sustainability Report 2008-09 showcases the significant economic, environmental and social factors that impact the way IndianOil does business. This report attempts to throw light on the dynamic business scenario and challenges faced by the Corporation. You may visit the corporate website www.iocl.com to peruse IndianOil’s Annual Report for the year 2008-09. This report is being tabled to take along our stakeholders on the relentless journey of IndianOil to bring in an optimisation process that takes into account all significant economic, environmental and social issues.