Strategic SD Initiatives

In the business strategy 2006-2010 MOL Group has already announced its commitment to sustainable development and it is also enforced consequently in the new strategic period.

As a high-level acknowledgment of the results of this recent period, by the end of 2010 MOL Group got into the best 10% of oil and gas industry with regards to sustainability performance, into the Dow Jones Sustainability World Index.

In 2010, the seven SD strategic initiatives for the period 2006-2010 were reviewed and updated. After a series of discussions and workshops, six SD focus areas were defined for the period 2011-2015: climate change, environment, health and safety, communities, human capital and economic sustainability. The six focus areas cover 20 topics, all of them considered essential to the successful management of the long-term economic, social and environmental challenges MOL Group faces in the future.

The strategic objectives have been broken down to business division and country/company level.

The main objective at the Group level is to “achieve and maintain an internationally acknowledged leading position (top 20%) in sustainability performance.”

The six focus areas are the following:

1. Climate Change

Aim: „Manage risks and opportunities related to climate change”

Topics: Future product portfolio, energy efficiency, renewable energy

2. Environment

Aim: „Reduce environmental footprint”

Topics: Water, Waste, Air Emissions, Biodiversity

3. Health and Safety

Aim: „Create a behaviour-based culture; achieve and maintain top quartile HSE performance”
Topics: people health and safety, operational integrity

4. Communities

Aim: „Enhance trust and credibility among stakeholders”

Topics: community relationships, social investments, human rights

5. Human Capital

Aim: „Capitalise on human resources”

Topics: human capital development, talent attraction and retention, labour practices

6. Economic sustainability

Aim: „Focus on responsible operations and long-term economic development”

Topics: customers, ethics and compliance, corporate governance and management systems, transparency, risk management