We define our stakeholders as being groups who affect and/or could be affected by our operations. Being a large multinational company, the majority of our engagement processes occur at a local-level. Stakeholders to engage with are selected according to specific local needs and circumstances. In this section we provide an overview of the engagement and dialogue processes we undertake with our main stakeholder groups.
We serve the interest of our shareholders who require constant assurance that the current corporate structure and operations guarantee them the best value. MOL Group management is aware of its fundamental duty to represent and promote shareholder interests and recognises its accountability through the company’s performance and activities. Performance and development are therefore continuously analysed and evaluated, both within the operations of the Group itself and in the broader external environment.
Whereas MOL Group shareholders are mainly UK and US institutional investors, there are also a significant number of individual shareholders. We regularly conduct shareholder identification surveys in addition to regular reports on the geographical distribution and nature of our shareholders using our share registrar, KELER.
Types of stakeholder engagement (and frequency):
- Annual General Meeting (annually)
- Annual Report / Flash Report (annually / Quarterly)
- Regular one-on-one meetings and Road shows with analysts and investors (continuous)
- Website publications - dedicated portal for investors and shareholders (continuous, link)
The long-term success of our company depends to a large degree on the quality and commitment of our workforce. We therefore utilise several engagement mechanisms designed to improve working conditions, increase health and safety performance and deal with all other topics which are raised by employees.
|Type of engagement
|Trade unions (continous)||Trade unions have the right to be informed before significant operational changes and about issues affecting a majority of employees. There are recurring topics (e.g.: Collective Agreements, compensation, etc) during employer and trade union meetings, but beyond the regulations of the national legislation we are committed to ensuring fair, mutual and continuous communication.|
|Workers’ Councils (in Hungary: formal monthly meetings)||This ensures high potential for personal and interactive communication between employee representatives and MOL top management on business and social issues, e.g. headcount plans.|
|European Workers’ Council (EWC) (ordinary meeting once a year, meetings of the EWC executive committee 2 or 3 times per year)||The EWC - under its scope of authority for obtaining information and holding consultations - is entitled - in accordance with the EWC-Act – to ask for information and consult on issues like MOL Group operations and employment policy. Furthermore EWC plays a key role in group-level communication towards employee representatives on issues belong to its scope of authority.|
|Employee forums (3-4 times per year and additionally when necessary about “hot news”, in Hungary and Slovakia)||In these fora employees can raise questions directly to the top management of the company.|
|Without Taboos (Leaders conferences on a special issue, held in Hungary 2-3 times per year)||Special, topic-oriented forum with a limited list of participants. The Workers’ Council suggests the topic of the forum and invites competent experts and managers.|
|Committee on MOL-Group labour safety (Quarterly)||This Committee is built up from the labour safety representatives of 7 MOL Group companies. It aims to ensure a healthy and safe work environment based on the same principles group wise.|
|Local committees on labour safety (Continuous)|
|Communication via internal communication tools: Internal news via e-mail (continuous), Company magazines (monthly / biweekly), Intranet portal (continuous)|
|MOL Group Ethics Council – call centre (continuous)|
|Employee Engagement Survey (bi-annually: next one due in 2012)|
|Application for handling employee suggestions and grievances (continuous)||The ’application for handling employees’ grievances’ handles the observations, problems and suggestions of employees electronically so those responsible (and associated deadlines) can be checked in order to avoid problems being disregarded.|
The MOL Customer Services is not only the face of the company, but a key customer information tool where customers can make enquiries, express opinions or request for assistance.
The types of engagement (and frequency) include:
- Internal and external customer satisfaction surveys (annual / biannual)
- Communication via newsletter, website, etc. (continuous)
- Customer call service, contact point on webpage (continuous)
Efficient cooperation with our suppliers significantly contributes to our long-term business success.
Type of engagement (and frequency):
- Supplier Forums (occasionally)
- Regular meetings with major contractors (continuous)
- Contractor safety Program (link)
- Annual Supplier HSE Forums with a special focus on supplier HSE performance (annually)
- Website publications e.g. about local HSE expectations (continuous)
The operating environment of MOL is determined by international and national regulations. MOL contributes to public consultations and professional discussions about regulations relevant to MOL’s operations in line with the relevant legal framework and Group-level guidelines.
MOL has memberships in 14 European and nearly 100 national professional associations where our experts represent MOL with their professional opinions. MOL representatives have also been selected as board members of several professional associations. Professional membership fees for MOL amounted to EUR 0.37 million in 2013 (without INA); expenses related to lobby activity were zero. MOL has its own department which is tasked to deal with regulatory issues - neither professional lobbyists nor company staff are employed at government institutions. MOL representatives are also involved directly in public consultations and professional discussions aimed at modifying the regulatory environment. Where and when it is possible, MOL communicates its professional standpoint in writing to relevant government bodies.
EU and national professional memberships include:
- National Petroleum Institutions
- National Mining Associations
- National Confederation of Employers and Industrialists
- National Chambers of Commerce and Industry
About our professional memberships and the most important topics discussed in these organizations more information can be found on the following link:
Public and local authorities
MOL acts in co-operation with other economic players and provides professional support for governments who are refining national energy, climate and environmental regulations to harmonize them with EU requirements. MOL supports the efforts of countries in the region to develop a single energy market.
In consultation with EU and national economic operators, MOL seeks to cooperate with governmental bodies and local authorities by effectively by providing its expertise. However, it neither takes part in political debates between political parties nor takes sides in favour of any national or local politicians or political issues. MOL does not make payments to political parties.
Our aim is to conduct our business operations in a socially responsible manner which also complies with best industry practices. A fundamental part of our value set is support for national, cultural and religious diversity. To fulfil our commitment and social responsibilities we have increased the support we offer to the local communities where we operate (link).
Types of engagement with communities (and their frequency) include:
- Holding public hearings for significant investment projects (occasionally)
- Supporting local community development projects (continuous)
At our significant industrial sites we have undertaken several initiatives designed to build trust with local communities.
|Hungary||The Danube Refinery continuously collaborates with the environmental committee of the local government of Százhalombatta.|
|Academic group visits are provided in the refineries (Zala, Tisza).|
|Charity christmas fairs were organized in Hungary.|
|The first bike share programme of Budapest, MOL Bubi was launched.|
|In 2011 MOL launched a program to simplify the process of collecting used oil from households.|
|Italy||IES organized in cooperation with Legambiente an event in mantua aimed at cleaning and tidying up green areas of the town. The event called “Puliamo il Mondo“ (Greenbelt Action)|
|IES supported the Canoe International centre, placed near IES Refinery, that promotes the positive values associated with water sports and the knowledge and respect about the water environment.|
|IES is one of the funding members of an association aimed at promoting the enhancement, conservation, restoration of artistic and cultural heritage (Centro Internazionale d'Arte e Cultura di Palazzo Te)|
|Slovakia||Slovnaft organizes volunteering projects with PONTIS foundation (collection of goods and clothing for socially disadvantaged families and non-profit organizations, Our City – helping our capital with renewing kindergartens, cleaning nature parks, X-mas charity market)|
|Slovnaft cooperates with schools, supporting teachers and students through various activities, increasing the interest of students in chemistry (Junior Freshhh).|
|Slovnaft has a 2nd year grant programme, called PRO LIBRIS to inspire young artists below to create a new artistic and literary works and to encourage publishers to translate works of contemporary European literary production.|
|Croatia||INA donated more than a million HRK (174,000 USD) to help victims of the flood in the region of Slavonia|
|In INA E&P BD comprehensive monitoring, sampling and measuring at location Gas Processing Facilities Molve are regularly done on yearly basis.|
|INA continued to support projects in the area in which it operates, particularly near our refinery plants in Sisak and Rijeka and in Pannonia Basin.|
|International E&P countries||"In Pakistan: Free Eye Camps held at village Saradhana in District Haripur where 825 patients were treated and referred if required to Al-Shifa Trust Eye Hospital Rawalpindi for surgical procedures accordingly.|
|In Russia: Supporting sporting events (table tennis, volleyball, sambo, wrestling), accomplished children's playground and bought clothes for Social Rehabilitation Center for Minors "Aistenok" and the boarding school, organized "Saban Tuy" and the City Day.|
|In Kurdistan: A detailed Social Impact Assessment (SIA) completed through CSR study has been completed by a 3rd party international company (Aamina Iraq). The SIA covers the identification and assessment of both positive and negative impacts, and mitigation measures.|