Business progress and social responsibility – NIS Company marks a decade of reporting about sustainable development

As a successful enterprise with a long history, in the business world, NIS is primarily recognized as an innovative company that drives the domestic economy with its investments. Furthermore, considering its approach towards shareholders and investors, as well as modern corporate practice, NIS significantly contributes to the development of the entire business community in our country. Also, NIS is one of the most important domestic social investors, because the company has invested as much as 3.8 billion dinars in community development since 2009.

The last ten years have been a kind of turning point for NIS because, in that period, the company invested over 3 billion euro in its development and modernization. At the same time, more than 13 billion dinars were invested in environmental protection projects. However, this period was marked not only by business progress but also by the responsibility shown to employees, local communities in Serbia and environmental protection.

At the same time, NIS is one of the pioneers in our country in terms of reporting on sustainable business. This year, the company marked a significant jubilee and published the 10th consecutive verified report on sustainable development. NIS presented its achievements from 2019 in a rather original way – through a unique interactive online version of the Report published on the company’s website .

Operating under the sustainable development principles, NIS has implemented its key business projects in a way that they simultaneously bring economic benefits and improve environmental protection. Thus, the second phase of modernization is currently underway in the Pančevo refinery, and it will culminate with the launch of the Bottom-of-the-Barrel Project. The new plants, worth 300 million euro, will enable the production of larger quantities of the most valuable crude oil derivatives, and the product range will expand to include coke. Besides, this phase will mark the cessation of the production of fuel oil with a high sulfur content, which will further boost environmental protection.

NIS  Company presented its achievements from 2019 in a rather original way – through a unique interactive online version of the Report published on the company’s website

The fact that NIS is one of the pioneers of green energy and that it implements international standards in business is also demonstrated by the fact that modern drilling methods, so-called “dry locations”, which enable efficient protection of soil, water and environment, are applied in its oil fields. Additionally, since 2013, NIS has been implementing a programme of construction of small power plants in the oil and gas fields in Serbia.

NIS has shared its business successes with the community, primarily by investing in young people. Among other things, the company has participated in the renovation and equipping of 37 children’s hospitals and health centres, 77 playgrounds and parks, 14 maternity hospitals, 12 laboratories, four museums and four theatres. Also, NIS employees, members of the Volunteer Club which number over 500, were engaged in advancing the general well-being in the society. In 2019 alone, they spent over 1,700 hours volunteering, thus setting an example for everyone who wants to engage in achieving similar goals. In this way, NIS has laid a solid foundation for the future of the company in the previous period, while establishing a strong connection with the community in which it operates and embarking on a new era of socially responsible business in Serbia and the region.

“The sustainable development principles will continue to be the basis of all business processes in NIS. The ten reports on sustainable development that we have generated so far are not only seen as a significant success of our company but also as an obligation to persevere on that path and raise the bar in terms of standards in this segment. Only in this way can we ensure further progress of NIS, while fostering a responsible attitude towards our shareholders, employees, the environment and the community which development we want to make a decisive contribution to, “said Kirill Tyurdenev, the CEO of NIS, in the opening remarks of the Sustainable Development Report for 2019.

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