PETRON BEST IN ENVIRONMENTAL EXCELLENCE IN GLOBAL CSR AWARDS

September 9, 2011

The country's leading oil company Petron Corporation was given the prestigious Gold Award for BEST ENVIRONMENTAL EXCELLENCE during the recent 3rd Global CSR Awards organized in Cebu by Singapore-based The Pinnacle Group International. The company was conferred the honor "for integrating environmental performance into the company's sustainable development strategy and delivering proven business benefits." The 3rd Global CSR was attended by over 100 delegates from Hong Kong, India, Indonesia, Malaysia, Pakistan, the Philippines and Singapore.

Petron was cited for its continuous efforts to improve its environmental performance in key areas namely energy efficiency, carbon footprint reduction, and waste management across its supply chain. This includes its 180,000 barrel-per-day Bataan refinery, over 30 depots and terminals, and over 1,700 service stations nationwide. The company noted that actual savings were realized by implementing sustainable environmental projects. This includes the reduction of Greenhouse Gas emissions by 57,000 tons annually and a 14% decrease in water consumption in 2010.

"As we continue to expand our business, our commitment to corporate social responsibility grows as well. Our goal is to ensure a sustainable future not only for our business but also for our communities," Petron Chairman and CEO Ramon S. Ang said.

"This prestigious award affirms that our sustainability initiatives are on the right track. This also serves to deepen our commitment to environmental preservation and protection," Mr. Ang added.

The Global CSR Awards is one of Asia's most reputable recognition programs for corporate social responsibility. It recognizes and honors companies for outstanding, innovative and world-class products, services, projects, and programs implemented. It recognizes the company's leadership, sincerity and ongoing commitment in incorporating ethical values, compliance with requirements, and respect for individuals, communities, and the environment in the way they do business. Petron is the first Philippine company to have its Sustainability Report in 2010 verified by an independent External Review Committee and then subjected to a Global Reporting Initiative (GRI) check in Amsterdam.

Petron Foundation General Manager Malu G. Erni was also conferred the Gold Award for CSR Leadership. This individual award was given for the promotion of all aspects of CSR within and outside Petron Corporation.

Beyond demonstrating the ability of companies to undertake long-term CSR programs that create a sustainable impact on the community and environment, the judging process also took into account the companies' regular reporting of their respective CSR efforts, especially within the context of internationally-recognized CSR Reporting Frameworks such as the Global Reporting Initiative (GRI), as well as those that have subjected their disclosures to an external and independent verification.