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 value creation process in one comprehensive report. The Sustainability content of the Annual Report is also supported by comprehensive Performance Data and a thematic GRI Compliance 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 be our shareholders, investors and sustainability analysts 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):
ANNUAL SUSTAINABILITY 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. 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. For the 2018 Sustainability Report, MOL Group introduced a number of changes to improve the reporting of sustainability information and increase disclosure to ensure industry best practices:
- The length of sustainability chapter of the Annual Report was significantly reduced to focus on narrative and data covering material topics (see “Materiality” chapter below), the most important developments, as well as any significant changes in performance. The previously included but now discarded data and narrative is now reported through two different reporting channels (see points 3 and 4 below). The sustainability report continues to include references to the disclosure number of the Global Reporting Initiative (GRI) Standards.
- For the 2018 sustainability chapter of the Annual Report, MOL Group introduces the Sustainability Accounting Standards Board (SASB) given its focus on financially material issues (supports objective under point 1 above) and because of investor feedback. The sustainability report includes (where applicable) a number of Sustainability Accounting Metric Codes from SASB's Materiality Map from three different SASB industry categories given the integrated.
- All sustainability data, previously disseminated across the Annual Sustainability Report, has been consolidated and fully integrated into the groupwide Data Library. The Data Library, a capital markets excel sheet, contains detailed financial and operational data (group-wide and divisional). As of 2019, it contains all sustainability data, including data presented in this report. The aim of full integration of financial, operational and sustainability data is to simplify access to MOL Group data, facilitate comparability and enable efficient analysis by all capital market participants. The Data Library is published yearly on the MOL Group website.
- MOL Group follows the guidelines of the GRI Standards for its sustainability reporting. In 2017, MOL Group switched to the new GRI Standards from the previous G4 Standards. Aiming at industry best practice, MOL Group took the step during 2018 to create a new, highly transparent “GRI Reporting Table”, presents all 158 indicators separately (including the GRI sector supplement for ‘Oil & Gas Sector Disclosures’ guidelines). All 158 indicators are cross-refenced, where possible, to the UN Sustainable Development Goals (SDG), SASB, and to the Task Force on Climate-related Financial Disclosure (TFCD). Additionally, links are provided to either the Data Library, the MOL Group website and/or the Sustainability Report. The Sustainability Report’s GRI accordance level is ‘comprehensive’, which means that MOL Group is reporting on all disclosures listed under material topics that have been identified (see more under Materiality Assessment below). The GRI Reporting Table is uploaded on the website.
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.