CPC Corporation, Taiwan

2019

Asia’s Most Influential Companies

CPC Corporation, Taiwan

Asia’s Most Influential Companies

2019

WORDS FROM THE JURY PANEL

CPC is well along the road towards sustainable operations that embody the firm’s entrepreneurial mindset, and makes real its vision of an environmentally-conscious, safety-wise and competitive international energy company.

Words from the winner

CPC Corporation, Taiwan

Fueling Growth

CPC is an oil and gas company with heart and vision

CPC Corporation, Taiwan (CPC) is the axis of Taiwan’s petrochemicals industry. It deals with oil and natural gas, exploration and production, procurement and imports, refining, storage and transportation, marketing and sales and the production of petrochemical raw materials. The 70-year-old corporation is also responsible for stabilizing domestic oil and gas supply and prices, and driving the development of the petrochemical industry. Additionally the company operates seven mining fields in five countries including the United States, Africa and Australia. In response to the Taiwanese government’s electric vehicles promoting plan, the company actively establishes charging/exchange stations, invests in green energy battery material R&D, and actively develops renewable energy such as geothermal and solar energy.

The biggest challenges it faces are rapid climate change and depletion of natural resources. CPC lends practical support to the Taiwanese government’s Circular Economy policy by turning petrochemical by-products used as fuel – previously regarded as industrial waste – into value-added products. It also aims to create a win-win situation between economic development and environmental protection by adhering to the principles of sustainable operations in its efforts to overcome the challenge of industrial transformation.

CPC currently employs a total of 15,704 people. In its recruitment and selection process, CPC takes not only professional qualifications, but also personal characteristics and achievements into consideration. The company endeavors to bring out the potential of its employees through long-term training and career development. It also offers life-long learning subsidies, maternity and paternity leave, paid annual vacation, and overtime. The average training hours for employees number 61 hours, annually. The company also promotes knowledge management, and various training programs to cultivate the depth and breadth of employees’ careers, so as to mitigate the impact of manpower shortages and optimize its human resources.

The company’s best practices lie in employee safety and development. In 2018, CPC conducted 310 disaster relief drills, eight unannounced emergency response drills, and four large-scale emergency response drills. In addition to conducting regular monitoring of the operating environment and organizing various occupational health-related activities, CPC subscribes to the OHSAS 18001 system and is accredited by the Taiwan Occupational Safety and Health Management System (TOSHMS).

CPC is committed to delivering the highest standard in everything it produces. From production, delivery, storage and sales, all its oil products pass through strict quality control procedures. Oil tanks in CPC are regularly cleaned, and oil samplings routinely tested, with the accuracy of gas stations’ flow meters checked by the National Inspection Department of the Ministry of Economic Affairs. In response to Taiwan’s ever more demanding environmental and quality of life standards, CPC refining and production facilities have undergone design and process upgrades to enable the supply of higher grade products such as desulfurized gasoline and diesel.

Over the years, CPC has been constantly seeking economic, environmental, and social success. Its 2018 revenue was NT$1.0358 trillion, 15 percent more than that of 2017, with a financial contribution amounting to NT$130.7 billion, and a before tax income of up to NT$42.2 billion. In terms of community involvement, CPC has supported disadvantaged groups, participated in social-welfare activities, funded arts and cultural initiatives and sponsored elite athletes. Its public service role also includes putting in place environmental protection measures around its workplaces, supporting economic and social development in the neighborhoods around its industrial plants and exploration sites, encouraging ecological conservation (in particular, sparing no effort in regard to the eco-protection of areas surrounding its own sites), fostering local culture and promoting education on environmental issues.