“Our objective is not only to ensure that ESG is embedded into our business, but also to motivate our employees towards sustainability and incentivize them to reduce the carbon intensity of our operations.”

Taleh Musayev,
Chief Operating Officer

Working Responsibly

We are committed to integrating Environment, Social, and Governance (ESG) to the core of our operations. By doing this, we aim to create long term value for our stakeholders, contributing to a cleaner and more sustainable energy future.

ESG Initiatives

Understand and reduce our corporate GHG footprint

We have set a target to reduce our administrative Scope 1 and 2 emissions by 30% by 2025 as per 2019 baseline. We also developed an action plan to achieve this target, e.g., by further electrification of our vehicle fleet, opting for green tariffs where appropriate, and procurement of Guarantees of Origin.

Please find more in our ESG report 2022, section 5.2.

Reduce the carbon intensity of shipping operations

We hold regular communication with shipping and trading teams to discover potential opportunities for shipping optimization to ensure quality service to our clients and minimize the environmental impact of our activities.

Please find more in our ESG report 2022, section 5.3.

Develop trading capabilities around environmental products

We are working with our parent company and other stakeholders on the development of carbon removal and avoidance projects, with some of them having the potential to achieve a reduction of GHGs associated with our value chain.

Please find more in our ESG report 2022, section 5.5.

CSR initiatives

At SOCAR Trading we encourage our employees to propose CSR projects of different scales emphasizing clear statements on the advantages and benefits of the proposed project for the Company, society, and the environment. In 2023 only we have implanted three CSR project with a positive impact on biodiversity in Azerbaijan.

For more details on CSR process, please refer to our ESG report 2022, section 6.3.

Understand and reduce our corporate GHG footprint

We have set a target to reduce our administrative Scope 1 and 2 emissions by 30% by 2025 as per 2019 baseline. We also developed an action plan to achieve this target, e.g., by further electrification of our vehicle fleet, opting for green tariffs where appropriate, and procurement of Guarantees of Origin.

Please find more in our ESG report 2022, section 5.2.

Reduce the carbon intensity of shipping operations

We hold regular communication with shipping and trading teams to discover potential opportunities for shipping optimization to ensure quality service to our clients and minimize the environmental impact of our activities.

Please find more in our ESG report 2022, section 5.3.

Develop trading capabilities around environmental products

We are working with our parent company and other stakeholders on the development of carbon removal and avoidance projects, with some of them having the potential to achieve a reduction of GHGs associated with our value chain.

Please find more in our ESG report 2022, section 5.5.

CSR initiatives

At SOCAR Trading we encourage our employees to propose CSR projects of different scales emphasizing clear statements on the advantages and benefits of the proposed project for the Company, society, and the environment. In 2023 only we have implanted three CSR project with a positive impact on biodiversity in Azerbaijan.

For more details on CSR process, please refer to our ESG report 2022, section 6.3.

Our Approach

We aspire to contribute to energy transition by trading less carbon intensive energy products and understanding our negative impact on the environment. We are committed to operating in accordance with ethical standards throughout our value chain. Development Strategy We are committed to developing and following company’s strategy to stay competitive in the current energy trading environment. We are committed to enhancing our governance capacity to identify and manage our impact on the economy, environment and people. Governing with purpose Enabling Energy Transition Trading Responsibly Material topics
Material topics Trading responsibly We are committed to operating in accordance with ethical standards throughout our value chain. Enabling the energy transition We aspire to contribute to energy transition by trading less carbon intensive energy products and understanding our negative impact on the environment.   Governing with purpose We are committed to enhancing our governance capacity to identify and manage our impact on the economy, environment and people. Development Strategy We are committed to developing and following company’s strategy to stay competitive in the current energy trading environment.

ESG Objectives

About us
Understanding our operations
  • Assess our ESG-related performance
  • Report on ESG-related performance
  • Enhance ESG governance
About us
Reducing our negative impacts
  • Reduce carbon intensity of the trading portfolio
  • Reduce our administrative emissions
  • Optimize logistics to reduce carbon intensity of the chartering activity
  • Manage operational, legal and regulatory risks
  • Employee safety and wellbeing
  • Respect for Human Rights
About us
Enhancing our ESG competence
  • Generate Sustainable earnings from core business
  • Increase activity in transitional commodity trading
  • Develop zero and low carbon trading capabilities
  • Employee training and development

ESG Publications

Sustainable Procurement and Supply Chain

The Sustainable Procurement and Supply Chain policy helps us to ensure that sustainability is embedded across entire company and its supply chain. This policy sets out general principles that SOCAR Trading follows across its procurement and supply chain activities.

For more details on the policy, please see ESG report 2022, section 4.1.

ESG report

At SOCAR Trading we produce annual ESG reports which outline our aspirations, commitments, and key achievements with respect to material ESG topics. In 2021 & 2022, we launched a number of initiatives dedicated to the ESG matters.

For more details, kindly request SOCAR Trading ESG report 2021 & 2022 using this link.

HSEC

The core principle of our HSEC policy is to ensure that “no one is harmed by our operational activities, the environmental impact is managed appropriately, and socio-economic prosperity is promoted in the communities impacted by our operations”.

For more details on employee safety and wellbeing, please see ESG report 2022, section 6.1.6.

CSR Policy

At SOCAR Trading we are committed to implementing a threefold approach to the company’s economic, environmental and social aspects. The CSR policy encourages us and our employees to behave in a socially responsible manner by integrating CSR management practices into the company.

For more details on CSR process, please see ESG report 2022, 6.3.

Sustainable Procurement and Supply Chain

The Sustainable Procurement and Supply Chain policy helps us to ensure that sustainability is embedded across entire company and its supply chain. This policy sets out general principles that SOCAR Trading follows across its procurement and supply chain activities.

For more details on the policy, please see ESG report 2022, section 4.1.

ESG report

At SOCAR Trading we produce annual ESG reports which outline our aspirations, commitments, and key achievements with respect to material ESG topics. In 2021 & 2022, we launched a number of initiatives dedicated to the ESG matters.

For more details, kindly request SOCAR Trading ESG report 2021 & 2022 using this link.

HSEC

The core principle of our HSEC policy is to ensure that “no one is harmed by our operational activities, the environmental impact is managed appropriately, and socio-economic prosperity is promoted in the communities impacted by our operations”.

For more details on employee safety and wellbeing, please see ESG report 2022, section 6.1.6.

CSR Policy

At SOCAR Trading we are committed to implementing a threefold approach to the company’s economic, environmental and social aspects. The CSR policy encourages us and our employees to behave in a socially responsible manner by integrating CSR management practices into the company.

For more details on CSR process, please see ESG report 2022, 6.3.

ESG Reports

Our annual ESG Reports are available upon request.
Please fill out the form in our “Contact us” page.