7
2013
CPC
Sustainable Development
Established in Shanghai on June 1st, 1946, the Chinese Petroleum Corp. (CPC) was funded and operated by
the government under the direction of the Resources Committee - the forerunner of the State-Owned Enterprise
Commission, Ministry of Economic Affairs (MOEA). In 1949 CPC followed the government in relocating to
Taiwan, setting up its headquarters in Taipei under the direction of the MOEA. With service facilities covering the
whole nation, its operations today include the import, exploration, development, refining, transport, marketing,
and sale of petroleum and natural gas, as well as the production and supply of petrochemicals.
At its 550th meeting in February 2007, the Board of Directors approved a change in the name of the company
from Chinese Petroleum Corporation to CPC Corporation, Taiwan, retaining its "Chinese Petroleum" name in
Chinese, its logo and its "CPC" abbreviation in English. The objectives of this change were to expand the firm's
international business, reinforce the principle of keeping its roots in Taiwan and extend the valued reputation that
the company had built up over decades. CPC's total capital stands at NT$130.1 billion, and its total revenues in
2012 amounted to NT$1,150.0 billion.
During the more than 60 years since its establishment, CPC has ably fulfilled its mission of providing a stable
supply of oil products and stimulating the development of petrochemical industries - thus enabling Taiwan's
economy to achieve soaring growth and the island's people to enjoy prosperity. For this accomplishment, our
company has won the approbation of all sectors of society. Faced with the liberalization of Taiwan's market for
petroleum products in recent years, CPC has moved to consolidate its operating advantages, and significantly
enhance its competitive capabilities. Organizational re-engineering, personnel downsizing and production-cost
reductions have all been carried out to maximise the benefits from corporatized operations. At the same time it
has vigorously sought opportunities for cooperating with major international oil companies in the development
of upstream exploration, petrochemicals and marketing channels with the aim of expanding its business scope
and presence in the international market. CPC intends, in this way, to become a competitive international
energy company developing safe, clean and sustainable operations and which continues to provide the people
of Taiwan with highly-efficient, high-quality energy products.
As a state-owned company, even though it pursues profit CPC does not neglect its corporate social
responsibility. In addition to continuously enhancing the quality of petroleum products, bringing in and promoting
the use of liquefied natural gas (LNG) as a source of clean energy, and striving for environmental protection
over the years, our company has, without regard to cost, also provided the fuel needed by military units and
the people in remote areas and offshore islands. At the same time, it has continuously carried out social-care
activities - promoting understanding of the petrochemical industry among the public, educating people in the
safe use of oil and gas, holding safety and health seminars, and guiding enterprises in strengthening the culture
of safety. Our company also supports disadvantaged groups, participates in social-benefit activities, sponsors
cultural activities, and provides incentives to encourage elite athletes and performers; in addition, it assists with
construction around its plants and oil exploration areas, works for ecological conservation, practices care for
local cultures, promotes environmental education and stimulates local advancement. These activities conform
to the general 21st-century trend toward sustainable operations, and to the progress of corporate operations
toward an emphasis not only on economic growth but also on environmental protection and social benefit. Even
though CPC pursues commercial gains- as it must - it also works for social justice, the welfare of disadvantaged
groups, safety and health, community development and environmental protection.
To coordinate with global trends and follow the international movement toward environmental protection, CPC
initiated the following initiatives at the end of 2003 to promote the spirit of sustainable development in its energy
industry operations:
●
Conformity with government regulations and international agreements
●
Clean production and environmental protection
●
Efficient utilization of resources to conserve water and energy
●
Emphasis on social responsibility and expansion of the scope of services
●
Establishment of key environmental indicators and provision of information transparency
●
Active commitment to research and development for the creation of new areas of operation
CPC joined the World Business Council for Sustainable Development (WBCSD) in 2006 and has set up a
Committee for the Promotion of Sustainable Development. The Committee is divided into four subcommittees:
Environment & Conservation, Social Consciousness, Policy and Research & Development, and Environmental
Accounting & Information, all of which adopt appropriate strategies and formulate action plans to attain the
ultimate goals of building a reputable corporate image and advancing toward sustainability. CPC also published
"Sustainable Development Reports" in 2007, 2009, 2011, and 2012 to fulfill its corporate social responsibility in
regard to the disclosure of information.
At a time when global petroleum resources are gradually being exhausted, CPC will conscientiously fulfill its role
as the main domestic supplier of clean energy and will strive to create a win-win-win situation for environmental
protection, economic development, and social responsibility.
Sustainable Development
