Ethics & Governance

Our Ethics and Governance focus area – as part of the general sustainability framework – covers those topics which are related to the responsible management of the company. It includes our ethics management framework and also the governance structure and practices that contribute to the sustainability of the company.

Ethics and governance practices are essential to ensure that the company monitors and understands the sustainability risks of its operation and is able to manage those risks. It contributes to improving MOL Group’s financial position while maintaining our authenticity and validity to investors and operating as “good corporate citizen”. In this area we consider topics such as corporate governance, business ethics, transparency, risk management.

MOL Group ethics management has a long history with the first Code of Ethics published in 1999 which was continuously updated to the current Code of Ethics and Business Conduct and the Business Partner Code of Ethics. A whistle-blowing system and a group level Ethics Council were established in 2006 and later in 2015 internal Group Ethics Officer position was created at Group Compliance & Ethics organization and Local Ethics Officers have been nominated in every MOL Group company which has more than 20 employees.