Our reporting process

We strive to be as transparent as possible, and we are aware of our responsibility to share information with stakeholders. Therefore we are committed to the open communication of any information that reflects and evaluates our true performance.

Our reporting practice: integrated Annual Report + website

MOL, as a public company and one of the leading corporations from the region, is committed to transparency and accountability. Consequently, we strive to report our sustainability impacts and results according to the highest standards and international best practices.

In 1996 we published our first HSE report – the first of its kind in Hungary - disclosing our environmental and social performance. Ever since, we have published the report year on year; developing its content and scope further to reflect evolving expectations and new trends in sustainability reporting. Since the first publication of a Sustainable Development Report in 2003, MOL Group has taken note of Global Reporting Initiative (GRI) guideline recommendations when preparing SD reports, and has adapted them to suit the Company’s market position and operations to comply with the latest reporting requirements.

The next milestone in our reporting practice was 2008, when MOL’s management - as a demonstration of our resolve to integrate SD into everyday business operations - decided to merge the Annual and the Sustainable Development Report and move towards an “inclusive” reporting approach. Thus 2009 is the second year that MOL has presented its economic, environmental and social performance in one integrated document. Our Annual Report is available in two different formats: a traditional paper-like design (pdf) and on a modern microsite (link).

The content of the Annual Report is tailored to the needs and interests of our target groups: shareholders, analysts and investors.

Information disclosed in annual reports is complemented by the wider and more general content available on the website of MOL Group, at www.mol.hu/sd. This site can also be viewed as a comprehensive and detailed sustainability report which has been prepared for all those stakeholders interested in the company’s SD performance. Consequently, we strive to use a style and language which is understandable not only to experts, but to the wider public. Our most important readers are judged to be analysts, customers, business partners, authorities, professionals, media, NGOs, students and academic institutions.

Assurance

For the fourth time the sustainability data in our reports was assured through an external party - this year on the basis of an audit process planned and performed in accordance with the International Federation of Accountants’ ISAE3000 standard.
To view the assurance letter provided by Ernst and Young, please click here.