SUSTAINABILITY
Net zero 2050
We aspire as a business to contribute towards growth and sustainability for an ecosystem of sustainable value to us and humanity. We want to explore avenues to become a net zero company in line with UNITED NATIONS Net-zero Commitment by 2050 to contribute towards protecting our world’s ecosystem.
To get there, we are thinking to explore the following framework concerning every business dimension we operate in, so that our direction ultimately aligns to contribute towards reducing carbon footprint gradually for a sustainable future.
Core - Sustainability
IECO wants to help in building a future that is sustainable yet profitable. We are an innovative company with a long-term view. There is no better time than now to explore investment avenues for efficient and robust energy solutions which are sustainable and positively impact the economy and society. Our sustainability philosophy directs us to explore avenues of becoming an integrated energy company and translates our objectives into the right proactive actions. We would like to excel in areas where we can make the most significant difference for ourselves, our business partners, and the markets we operate in.
To serve this purpose, we plan to develop initiatives and environmental awareness that lets us deliver positive and sustainable growth in our businesses and also enables us to create long-term value for all stakeholders.
Future Sustainability Framework
We think about inspiring people, businesses, and economies with our operations to build a brighter future for us all by embracing the emerging clean-tech economy. Our pillars for a sustainable approach are going to be:
Organization culture & mindset
Mindset towards sustainability defines an organization’s culture where everyone takes responsibility to make a difference towards a collective vision of a better world to live in for businesses and humanity.
Governance & controls
Corporate governance structure and organizational controls will help us to evaluate, perform and sustain best practices while ensuring accountability and recognition for every stakeholder involved at each stage of operational execution.
Structured Investments
Strategic decisions to embark on a journey of structured investments will enable us to approach new avenues with a mindset of sustainable business future where growth is a by product of businesses contributing towards a better future of our world.
Safety at IECO
Safety is the most important thing as we believe to operate safely, or not at all. It’s our most valuable asset, and it’s everyone’s responsibility to ensure safety at all times.
Safety is not a program; it’s a culture constantly reinforced and developed by everyone at IECO. It should never be an after thought but rather an aspect that permeates every aspect of your business—from hiring personnel to maintaining equipment & facilities to training new employees and even in the basis of organizational communication.
Safety needs constant attention to keep people, business and the environment safe while working towards growth.
1. Safe Operations
In our operations, we take safety seriously. We are working hard to ensure no incidents or accidents happen on our sites or during the transportation of materials from one location to another. We have empowered QHSE Departments in our businesses to monitor how we operate and advise/raise flags if there are any concerns so we can address them quickly and adequately.
We have set up a system to ensure that we comply with all QHSE regulations. We have a working group that meets regularly to discuss safety-related issues. We have a dedicated equipment maintenance team that ensures all equipment is in good working condition.
2. Personnel & Health Safety
Personal health & safety measures should be taken before entering any work area because they can prevent injuries and save lives. Accidents can occur when moving equipment, automobiles and personnel inside facilities when simple actions without caution can have adverse outcomes if anything goes slightly wrong. Its like a trigger for disastrous chain of events to follow.
Personal protective equipment (PPE) such as safety goggles, hard hats, gloves, and earplugs should be worn when working with in Oil Terminals, Airports and at Retail Fuel Stations to ensure safety for human lives, the business and our environment.
3. Transportation Safety
Transportation safety is a critical issue when transporting chemicals and petroleum products from one place to another. Fuels are highly flammable and dangerous substances that requires careful handling and storage to ensure safety of the public and the environment.
Overall, transportation safety is critical and certain transportation protocols must be followed to ensure that the fuel is transported safely and efficiently, whether its done by tank lorry, locomotive, vessel, or pipeline. Its important to ensure regular inspections and maintenance of the vehicles, vessels, and pipelines along with proper and periodic training of staff for smooth operations.
4. Emergency Response Management
Emergency response and risk management is critical for a company’s overall safety and security strategy.
Risk management guidelines that we, as an energy holding company, take into account are:
a- Conducting Regular Risk Assessments
b- Developing Emergency Response Plans
c- Frequent Trainings and Drills for Staff
d- Regular Reviews and Risk Audits
e- Emergency Communication Plans
f- Risk Mitigation Strategies
g- Continuous Improvement of Safety Standards