In order to assess the performance of corporative responsibility and sustainability, subsidiariy of JSC Ventspils nafta LatRosTrans for the first time participated in Sustainability Index. According to the assessment by the experts LatRosTrans received Bronze award.

“Responsible, sustainable and transparent business practice is one of the priorities of the company’s management team. Participation in the Sustainability Index allowed to assess the fields of our strength, as well as showed, where improvements are still possible,” points out Igors Stepanovs, Member of the Board of LatRosTrans.

Sustainability Index in Latvia is being organized for the fifth year. Partners of the initiative are - Institute for Corporative Sustainability and Responsibility, Employers' Confederation of Latvia and Free Trade Union Confederation of Latvia. 

Methodology of the Sustainability Index of the companies of Latvia is based on the most influential global index Dow Jones Sustainability Index and Business in the Community CR Index experience, taking into consideration the standard set by the corporative responsibility standard ISO 26000 and Global Reporting Initiative (GRI) G4 guidelines. Localized index assesses performance of companies according to economical, social and environmental matters crucial for Latvia, simultaneously representing internationally recognized understanding on criteria of corporative responsibility and sustainability. 

About LatRosTrans 

LatRosTrans Ltd owns two crude oil pipelines in the territory of the Republic of Latvia: Polotsk-Mazeikiai and Polotsk-Ventspils, which have not pumped oil in the last years, and one petroleum product pipeline Polotsk-Ventspils, which currently actively provides transport of diesel.  

LatRosTrans Ltd is the largest Latvian-Russian joint venture in the Baltic States. The Russian partner – joint stock company Transnefteprodukt (subsidiary of Transneft) owns 34% of the company’s shares, while 66% of the shares are owned by joint stock company Ventspils nafta (NASDAQ OMX RIGA: VNF1R).

Elīna Dobulāne, Communications consultant

AS  Ventspils nafta

Phone: +371-25959447

E-mail: elina.dobulane@vnafta.lv

www.vnafta.lv