At LPC Group, engaging with our stakeholders is an ongoing process and a key pillar for our operation. We recognize that our success journey depends largely at effective engagement with our stakeholders and our activities are based on the establishment of mutual trust and constructive collaboration with them.
As stakeholders, we consider anyone who affects or is affected by our activities, either they belong to the internal environment of the company (shareholders, employees) or to the external environment (customers, financial institutions, local community and government, business partners etc.).
In addition, our stakeholders play a pivotal role in the materiality assessment. We engage representatives of all stakeholder groups in the materiality assessment, aiming to identify and prioritize the Group’s material issues.
ESG
Our approach for sustainable development
At LPC, we passionately embrace the journey of actively shaping a sustainable future through every step of our operations.
At LPC, we actively contribute and promote sustainable development through our commitments and actions to
minimize the environmental footprint
ensure the occupational health and safety
create an
equitable working environment
offer
equal opportunities for all
contribute to the
economy and supporting local communities
to create
value for all our stakeholders
Our approach for sustainable development is based and aligned with the principles of the
In this context, one of our objectives is to identify both the actual and potential risks and opportunities associated with our activities and ESG on behalf of our investors and shareholders.
Recognizing the significance of the ESG criteria in the long-term development, our strategy emphasizes forward-looking information including specific targets, goals, action plans, goal alignment and related impacts.
Research Life Cycle
assessment for regenerated base oils for LPC S.A.
LPC enhances sustainability through used oil collection and re refining, reducing greenhouse gas emissions by more than 65% compared to processing virgin crude oil.
Source: Life cycle assessment for regenerated base oils for LPC S.A., IFEU (Institut fur energie und umweltforschung), Heidelberg, 2024
To enhance the effectiveness of implementing the sustainability strategy, LPC as member of Motor Oil Group places a string emphasis on providing high-quality and accurate information.
LPC's Sustainability Strategy, as part of the Motor Oil Group, focuses on the 8 topics below:
- Decarbonization and energy transition
- Stakeholder engagement & Materiality
- ESG impact assessment and Taxonomy alignment
- ESG Policies & Procedures
- Corporate Governance
- Targets and KPIs monitoring
- ESG/Climate risk management
- Transparency, Reporting and Communication
More information regarding the Motor Oil Group sustainable development strategy is provided at the
Motor Oil Group Sustainability Report (pg. 26-29).
Stakeholder engagement
Our contribution to Sustainable Development Goals (SDGs)
At LPC, we recognize the importance of aligning our efforts with the 2030 Agenda for Sustainable Development, so we act with a focus on Sustainable Development Goals (SDGs) of the United Nations, which provide a comprehensive and integrated framework το confront the most significant sustainability challenges.
The Group's contribution to the Sustainable Development Goals that are directly or indirectly linked with our operations, and their targets is presented in the table that follows.
The Group's contribution to the Sustainable Development Goals that are directly or indirectly linked with our operations, and their targets is presented in the table that follows.
Contributing to sustainability through circular economy
Through its innovative re-refining processes, LPC exemplifies the principles of sustainability and resource efficiency. By reprocessing used lubricants and transforming them into high-quality base oils and lubricant products, LPC demonstrates a commitment to reducing waste, conserving natural resources, and minimizing environmental impact.
The environmental and socio-economic benefits from re-refining
At LPC, we use recycling (re-refining), which is a smart and safe way based on up-to-date technology that enables us to recover 80+% of useful material and produce high-quality re-refined base lubricants. As a result of several lubricants lifecycle analyses which have been conducted globally, the waste lubricating oil re-refining process has the following advantages, compared to conventional methods:
- The waste lubricating oil can be recycled indefinitely without lowering the quality of the base mineral oils.
- Re-refining is an energy-effective and technically completely feasible method for the management of waste lubricating oil.
- Re-refined Base Oils produce 70% less Green House Gas emissions vs virgin Base Oils during the refining process.
- Almost 80% recovery of base mineral oils as well as of other useful by-products (fuel, asphalt etc) is achieved.
- High-quality base oils production with no harmful substances is achieved.
- Through re-refining, the waste lubricating oil and the use of precious resources (crude oil) are minimized since waste lubricating oil is a precious raw material.
- It is well established that re-refining results to the creation of a significant number of jobs supporting Local Communities
Lubricants portfolio evolution
We actively research our lubricants product portfolio offering to continuously launch new products which will provide longer drainage intervals to ensure maximization of resources usage, as well as to support new technologies providing consumers and users with product availability and choice selection opportunities.
Our goals for sustainable development
At LPC Group we regularly set goals and targets in order to measure and evaluate our performance and progress to sustainable development. Through this action we design our path to a greener and more sustainable future.
