| Our reporting approach |
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Our approach
As a demonstration of MOL’s resolve to integrate a sustainability approach into everyday business operations, in 2008 our management decided to merge our Annual and Sustainable Development Reports and move towards an “inclusive” reporting approach. This is the second year that MOL Group has reported on its economic, social and environmental performance in one integrated document.
The “Sustainability: non-financial performance” section of the Annual Report contains information on the key achievements, challenges and data of the given year about the most relevant topics for MOL in the area of sustainability. Beyond this report, on the webpage of the Group (www.mol.hu/sd) a general presentation of MOL’s policies, management approaches and other SD-related information is maintained and updated regularly. While the Annual Report’s main audience is assumed to be our shareholders, investors and sustainability analysts, our webpage is tailored to answering the information needs of all kind of stakeholders.
The sustainibility performance data contained within the report was reviewed by Ernst and Young (please see the assurance statement for the the specific engagement scope), and for the first time, the assurance process were planned and performed in accordance with the International Federation of Accountants’ ISAE3000 standard.
This Annual Report together with MOL’s website (www.mol.hu/sd) meet the requirements of the A+ application level of the GRI G3 Sustainability Guidelines.
For the GRI compliance table click here.
Report content and materiality
All the topics that reflect MOL’s significant economic, environmental and social impacts and might have impact on our stakeholders are treated as material concerns. When determining these issues, we take into consideration GRI G3 guidelines, recommendations of our industry’s professional association (IPIECA) and industry-specific evaluation criteria from sustainability analysts such as the SAM Group. Moreover, issues related to governmental initiatives connected to SD are also judged to be material (e.g. compliance with legislation such as REACH). Priority is given to topics where our company has more significant impacts and makes effort to increase its performance.
MOL reports following the GRI G3 guidelines reaching the application level A+. Since there is no available oil and gas sector specific supplement, we strived to follow IPIECA-API “Oil and Gas Industry Guidance on Voluntary Sustainability Reporting” to determine additional, industry-specific indicators.
