S-Oil on Thursday won the grand prize at the 2017 ESG Award organized by Korea Corporate Governance Service.

The ESG Award evaluates and analyzes environmental, social and governance factors of all listed companies in South Korea.

S-Oil received high scores for company-wide efforts to accelerate sustainable growth, as well as for its social and environmental activities, according to the award.

S-Oil CEO Othman Al-Ghamdi has been underscoring ethical management and social responsibility since his inauguration here, the company explained.

“S-OIL will make its best efforts not only to supply good oil but also to be a good company growing in harmony with the social ecosystem,” said Al-Ghamdi during the award ceremony.

“We will double up efforts to maximize shareholder returns and create greater values to all stakeholders such as employees, customers, suppliers and partners by promoting business transparency, social responsibility and environmental stewardship” he added.

Earlier this month, S-Oil was also recognized in the Dow Jones Sustainability World Index. S-Oil is the first Asian refiner to be named in the index for eight years in a row.

By Shim Woo-hyun (ws@heraldcorp.com)