Norwegian banking group, Storebrand, awarded Neste Oil ‘Best in Class’ recognition for its social accountability on 8 March this year, based on an analysis of oil and gas companies carried out in 2006.
Storebrand grants the award to companies that it has identified as the best investment opportunities in terms of environmental and social responsibility. Companies recognized in this way are approved as socially responsible investments (SRIs) by the bank.
Recipients of the Best in Class award are selected on a 10-point set of criteria developed by Storebrand that highlighted Neste Oil’s management of its environmental affairs in particular.
“Storebrand has been a major and important pioneer in the area of socially responsible investment. Being included in their SRI list shows that we have come a long way in our work in this area,” says Pekka Tuovinen, Vice President, HSE at Neste Oil. “The Storebrand award is a very satisfying follow-on from the decision announced by Canadian-based Innovest in January to include Neste Oil in the Global 100 list of the world’s most responsible companies. Of course, that doesn’t mean that we can’t still improve our performance.”
Storebrand has been a pioneer in evaluating the social accountability of potential investment opportunities, and is one of the world’s best SRI-based fund managers.
For further information, contact Pekka Tuovinen, Vice President, HSE at Neste Oil on +358 (0)50 458 4516.