Sustainability related data and information have been integrated into all sections of the MOL Group Annual Report 2011. This chapter aims to summarise our objectives and the progress made in the 6 sustainability focus areas of MOL Group. Besides this, a business division level summary can be found in the ‘Our businesses’ chapter. If you would like to read further, a more comprehensive overview of MOL Group’s sustainability strategy, activities and results can be found at www.mol.hu/sd.
At the beginning of 2011, MOL Group defined its general long-term sustainable development target to be reached by 2015:
“Achieve and maintain an internationally-acknowledged leading position (in the top 20%) in sustainability performance”.
As a key performance indicator (KPI) we utilise the total score awarded by the Dow Jones Sustainability Index. According to this Index, MOL Group is among the 12 most sustainable companies (the top 10%) of the oil and gas producing sector and was included in the Dow Jones Sustainability World Index for the second time — the first and sole company from the region. In 2011, MOL’s best performing areas were ‘Risk Management’ (94%), ‘Codes of Conduct/Compliance/Corruption & Bribery’ (93%), ‘Environmental Reporting’ (93%) and ‘Social Reporting’ (92%).
The main reasons for the drop in our total score when comparing 2011 with 2010 were: (1) receiving a lower score for ‘Exploration & Production’ criteria; (2) the inclusion of a full set of INA data – which has lower sustainability performance - in the report; and, (3) methodological changes in the scoring system.
MOL Group at a glance
Historical summary of financial information
Key group operating data
Management Discussion and Analysis
Integrated Risk Management Function
Table of contents