PetroChina published its first Corporate Social Responsibility report
By China CSR Watch (www.csrcsr.com)
PetroChina published its first Corporate Social Responsibility report on February 28th 2007, in an effort to be more open and transparent to public to improve its image amid oil price gauging accusations and after some major accidents.
According to the report, “in 2006, PetroChina donated a total of RMB 80.11 million in disaster relief, 16.45 million in education, 80,000 PetroChina volunteers served more then 200,000 people.”
PetroChina, the second largest Chinese oil company ranked at 39th in the Fortune Global 500 list, has been plagued with major accidents in recent years. It was ranked 63rd, of all 64 companies evaluated, in the 2006 Fortune Accountability list with an accountability score of 3 out of 100.
In 2003, a blowout of its natural gas well in Chongqing province killed 243 villagers. In 2005, a blast in its oil chemical plant in Jilin province polluted the water system and halted the tap water supply of Harbin, a major city of 3.5 million residents, for 4 days, and directly resulted the resignation of head of the environmental protection bureau of China.
PetroChina has been trying hard to improve its record on safety.
“Compared with 2005, accidents with fatality were lowered by 25%, and fatality was reduced by 12%. However we are regret to see 3 major accidents happened and 21 lives lost,” stated in the CSR report.
PetroChina has been ranked number one in the Top 50 Corporate Social Responsibility Chart compiled by Hurun Report published April 2007.
According to Hurun Report, PetroChina has more than 1 million employees, 177.1 billion Chinese yuan tax payment, and 720 million donation from 2003-2006. PetroChina is a clear leader in corporate social responsibility in China. (According to PetroChina’s CSR report, it has 446,000 employees excluding external employees.)
Sources (in English and Chinese):
PetroChina English CSR Report: http://www.petrochina.com.cn/chinese/zrgg/Corporate%20Social%20Responsibility%20Report%202006.rar
163.com http://money.163.com/07/0411/13/3BQ74E1V00251RJ2.html
Huran Report: http://www.hurun.net/listcn62.aspx
Xinghuanet: http://news.xinhuanet.com/fortune/2007-03/22/content_5880218.htm
WTO Guide: http://chinawto.mofcom.gov.cn/aarticle/by/cb/200704/20070404614048.html
Chinanews: http://news.163.com/06/1114/02/2VRSKH01000120GU.html
Fortune: http://money.cnn.com/magazines/fortune/global500/2006/accountability/full_list.html