Reports and Data
The most efficient way of public reporting on sustainability is the preparation of an integrated annual report. Integrated reporting in MOL Group means presenting the economic, social and environmental aspects of our performance in one comprehensive report. The Sustainability content of the Annual Report is also supported by a comprehensive ESG Data Library and a GRI Reporting Table. The most recent Annual Report can be downloaded from here.
MANAGEMENT APPROACH TO REPORTING
MOL Group’s management approach regarding the presentation of material impacts and sustainability performance is to publish relevant information where it is most likely to be looked for by our stakeholder and most easily accessible. The Annual Report’s main audience is assumed to capital market participants interested in the annual performance of the company. Our webpage is tailored to provide detailed information to all our stakeholders on our impacts, policies and projects.
Please see the guideline below to help navigation and understanding (relevant information of each level can be found on the links):
In order to respond to our impacts, we set targets and goals which are summarised in our Sustainable Development Strategy.
We show project examples underlying our results and achievements in our Case Studies.
ANNUAL SUSTAINABILITY REPORT
Since 2008, MOL Group has been reporting its financial and non-financial (ESG) performance in one integrated report. Key achievements, challenges, performance data and trends relating to relevant sustainability topics for MOL Group are described throughout the report. The main target audience of the Annual Sustainability Report are capital markets participants, including, but not limited to, shareholders, investors, analysts and rating agencies and index providers. The structure of MOL Group’s sustainability reporting is designed to meet the increasingly diverse information needs and priorities of capital markets participants and stakeholders alike.
The Sustainability Report, the Data Library, the GRI Reporting Table, the MD&A and the Group website together form MOL Group’s sustainability reporting. Despite significant changes undertaken for the 2018 Sustainability Report including
- a) considerable reduction in the length of sustainability chapter of the Annual Report to focus on Group-level material data with explanatory narrative restricted to important developments and significant changes in performance,
- b) the introduction of SASB given its investor recognized financially material focus,
- c) the consolidation of all sustainability data previously disseminated across the Annual Sustainability Report into the Group-wide 2014-2018 Data Library and
- d) the creation of the 2018 MOL Group GRI Reporting Table, presenting 158 GRI indicators separately),
MOL Group is continuously introducing changes across its four main reporting pillars in order to meet the increasingly challenging ESG disclosure expectations from capital markets. For the 2019 Sustainability Report, the following changes were introduced:
- a) 2019 Sustainability Report: the previous six chapters have been consolidated into the following four: ‘Climate Change & Environment’, ‘Health & Safety’, ‘People & Communities’, and ‘Integrity & Transparency’. Furthermore, new sub-chapters have been added, including ‘Recycling’ given the increasing focus on circular economy.
- b) 2019 GRI Reporting Table (LINK): new features include a) introduction of summary of new disclosures introduced for the year providing full visibility of the Group’s increasing transparency efforts, and b) introduction of new Sustainability Accounting Metric Codes from SASB's Materiality Map from two new different SASB industry categories: Metals & Mining and Road Truck Transportation, taking total SASB industry coverage to eight industries.
- c) 2015-2019 Data Library (LINK): Breakdown of data indicators by division have been provided in line with SASB disclosure requirements, as new data points have been introduced, taking the total number individual data points for 2019 to around 650 (overview of new disclosure items can be obtained from page 11 in the link above). A seventh excel tab has been added to the sustainability section of the Data Library titled ‘Corporate Governance’. This includes data previously scattered across the Corporate Governance section of the Annual Report.
- d) Management Discussion & Analysis (MD&A): changes include the insertion of key divisional sustainability indicators for each of the four data tables presented in the MD&A covering: Upstream, Downstream, Consumer Services and Gas Midstream (from page 6). Furthermore, explanatory notes following each divisional data table now integrate division specific sustainability related narrative alongside financial and operational narrative, thereby not only complementing Group-level data and narrative presented in the following pages of the Sustainability Report, but also providing further reading into major sustainability events at divisional level.
In addition, MOL Group is using the IPIECA-API ‘Oil and Gas Industry Guidance on Voluntary Sustainability Reporting’ protocol when defining the content of reports and selecting which indicators to cover. Additionally, MOL Group uses this report in fulfilment of the legally binding requirements of Directive 2014/95/EU on the disclosure of non-financial and diversity information. The content will also serve as a guide to the implementation of the above guidelines and the directive.
Due to the integrated nature of MOL Group reporting, sustainability related information can be obtained in MOL Group’s Annual Report, published yearly.
Sustainable Development websites of operated companies including reports of operational units are available on their individual websites.