Improving ESG Risk Disclosure for a Major Philippine Oil Refining Company

Limited transparency on environmental and governance risks raised red flags

One of the largest petroleum refining companies in the Philippines had long-standing operations and community outreach programs, but lacked formal ESG reporting. 

As scrutiny increased from regulators, investors, and advocacy groups, the company faced delays in permit renewals and a withdrawal of interest from sustainability-linked funding channels. 

The absence of structured risk disclosures—especially around emissions, spills, and governance practices—made it vulnerable to reputational and operational risks.

IFRS-aligned reporting revealed strengths and addressed vulnerabilities

We designed a comprehensive ESG reporting strategy, aligned with IFRS S1/S2 and GRI, focused on material risks specific to petroleum refining—such as emissions, energy intensity, water management, and supply chain ethics. 

Our team conducted an audit of risk controls and helped the company integrate reporting functions across its legal, operations, and investor relations departments. 

The resulting report provided a candid, data-backed view of the company’s environmental footprint and corporate responsibility commitments.

Restored regulatory confidence and unlocked capital

• Regained eligibility for environmental clearances after submitting ESG-aligned disclosures
• Attracted renewed interest from a local green bond program that had previously paused engagement
• Reduced legal compliance incidents by 58% through improved internal risk protocols
• Strengthened stakeholder engagement across affected communities with increased public access to ESG data

For oil companies, transparency is a shield—not a spotlight

This case shows that when ESG risks are surfaced and addressed proactively, even legacy extractive industries can build the trust needed to operate and grow responsibly.

Operate with Confidence—Report with Integrity

Stakeholders are asking tough questions. It’s time to answer them with clarity, data, and direction. We’ll help you build a reporting strategy that reinforces your license to operate.

Contact us at sales@gcssinc.com to start your GRI, IFRS, or ESG reporting journey today.

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