Annual Report 2014

ECONOMIC, SOCIAL AND ENVIROMENTAL PERFORMANCE

SUSTAINABILITY

Economic sustainability

6. ECONOMIC SUSTAINABILITY

General aim: Focus on responsible operations and long-term economic development

ACHIEVEMENTS:

  • The Business Partner Code of Ethics is now a component of 99% of supplier contracts.
  • The value of contracts with locally-owned suppliers in our international Exploration and Production activities amounted to HUF 85bn in 2014.
  • Security training material for all employees was rolled out across MOL Group in 2014. In Pakistan, Russia and the Kurdistan Region of Iraq the training material includes principles related to the protection of human rights. Training materials were shared with private security contractors (who reported a 100% compliance level), and also with public contractors as recommended training material.

CHALLENGES:

  • Implementation and improvement of the new supplier qualification system in 2015.
  • In 2014, steps were taken by MOL Group to implement a new and improved process for the pre-qualification of contractors during the procurement process. As part of this process, the procurement of a Supplier Qualification System started with implementation and roll-out planned for 2015.