Ampol

OVERALL
Owned	AUS
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Oil refining and marketing company

In 2015 Chevron sold its 50% stake in Caltex Australia, and in Dec 2019 terminated the licence agreement for use of the Caltex brand in Australia. Caltex Australia officially renamed Ampol in 2020, with all Caltex sites to be renamed Ampol by 2022. Australia's largest oil refiner, and operator of two oil refineries. Caltex/Ampol branded fuel is sold at over 1,100 locations, including 540 sites operated by EG Group, where Ampol is the fuel supplier only. Most of their sites were franchises, however Ampol plan to buy them all back by 2020 in the wake of wage scandals. Ampol also supply about 900 independent re-sellers.

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Company Assessment

PRAISE	CRITICISM	INFORMATION
Ampol Ltd
3/5 for packaging performance This company received a packaging performance level of 3 (Advanced) in its 2022 APCO Annual Report. Australian Packaging Covenant Organisation (APCO) is a not-for-profit organisation leading the development of a circular economy for packaging in Australia. Each year, APCO Members are required to submit an APCO Annual Report and Action Plan, which includes an overall performance level from 1 (Getting Started) to 5 (Beyond Best Practice). Source: APCO (2022)	Underpaying workers A Fairfax Media investigation in 2016 revealed that some Caltex petrol station workers are being paid in cash, as little as $12 an hour, and sleeping in beds at the back of the store when their shift ends. Many are being threatened with deportation if they speak up. Source: Fairfax (2016) Breaching workplace laws The Fair Work Ombudsman (FWO) commenced investigations into this company's network in late 2016 after receiving intelligence indicating an upsurge in compliance issues at Caltex outlets. The report released in 2018 found that 76% of Caltex sites breached workplace laws. Across the non-compliant sites, inspectors found evidence of underpayment of wages, non-payment of overtime and penalty rates as well as record keeping and pay slip breaches. Source: Fair Work Ombudsman (2018) 31/100 S&P Global ESG Score This company received an S&P Global ESG Score of 31/100 in the Oil & Gas - Refining & Marketing category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 21 Oct 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices. Source: S&P Global (2022)	Water pollution in NSW This company entered into an enforceable undertaking with the NSW Environment Protection Authority on 30 March 2015 to provide $120,000 to a number of local environmental programs. This resulted from a water pollution incident at the Kurnell refinery (which now operates as a fuel terminal) on 24 March 2014 when oily water was discharged into Botany Bay. It would seem Caltex got off lightly, as earlier reports said they faced fines of up to $2 million. Source: NSW Environment Protection Authority (2015) Political donations According to the democracyforsale.net website, this company donated $322,567 to Australia's major political parties between 2012 and 2018, as disclosed to the Australian Electoral Commision (AEC). Source: Democracy For Sale (2018) Sustainability claims This company has a number of sustainability claims on its website in the areas of climate change, workplace safety, biofuels, and community support. Source: company website (2014) Modern Slavery disclosure quality Modern slavery disclosure is a critical step in mitigating the risk associated with modern slavery practices in companies' operations and supply chains. The quality of the disclosure signals the level of commitments and efforts that the companies have put in managing these risks. In 2021 the Monash Centre for Financial Studies analysed and ranked the disclosure quality of the modern slavery statements submitted by the 300 largest listed companies on the Australian Stock Exchange (ASX300). This company's modern slavery disclosure statement received a grade of C. Source: Monash University (2021)

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