DOCUMENTS FOR THE ANNUAL GENERAL MEETING
DOCUMENTS FOR THE ANNUAL GENERAL MEETING
DOCUMENTS FOR THE ANNUAL GENERAL MEETING
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MOL Plc. Annual General Meeting 2013 Documents<br />
In the field of environmental protection, air emission abatement is an<br />
important area of focus for us. Since the industry is considered to be<br />
the largest source of emissions of volatile organic compounds (VOCs),<br />
MOL Group has taken serious steps towards limiting these types of<br />
emission. In 2012, MOL Group continued its LDAR (leak detection and<br />
repair) Program to reduce VOC emissions. This program has<br />
produced important results for several years at our Slovnaft and IES<br />
refineries and in 2012 it was extended to our Hungarian operations.<br />
As a result, measured VOC emissions decreased by 8% compared<br />
with 2011.<br />
Meeting our work safety<br />
target<br />
Focus on ethics and<br />
compliance<br />
MOL Group closed a successful year from the lost time injury<br />
frequency point of view and we fulfilled the 1.0 LTIF target (INA and<br />
its subsidiaries excluded). This performance was significantly better<br />
than the CONCAWE (downstream benchmark) average, but it does<br />
not reach the OGP (upstream benchmark) average. Despite this<br />
positive LTIF result, we are not satisfied with our achievements: 1<br />
employee fatality at INA Group and 3 contractor fatalities highlighted<br />
that we should make further efforts to prevent any harm related to<br />
our operations.<br />
Process safety remained a priority and we therefore extended the<br />
implementation of our management system to further operations. In<br />
the refining sector, a new process safety performance indicator was<br />
introduced in 2012 to monitor the number and seriousness of<br />
process safety incidents.<br />
Ethics continues to be a cornerstone of our non-financial<br />
performance. Our Code of Ethics is now available in 11 languages and<br />
from 2012 onwards we have 24 ethics officers and managers are<br />
obliged to train their colleagues on the code of ethics, personally.<br />
As part of its commitment to ethics, MOL Group is dedicated to fair<br />
market behaviour; its activities in the marketplace must be<br />
conducted in accordance with the norms of fair competition and the<br />
spirit and letter of applicable competition laws. In 2012, the<br />
Compliance Team focused on effective risk assessment through<br />
market analyses. The Team highlighted the need to ensure regulatory<br />
compliance through training sessions. In 2012, in MOL Group, more<br />
than 270 employees participated in compliance presentations and<br />
more than 380 employees passed through e-learning training and an<br />
exam.<br />
Hiring talented young<br />
people and experienced<br />
professionals<br />
To support the on-going internationalisation of MOL Group, the<br />
International Mobility Management team was restructured and a<br />
new International Assignment platform was established. Key pillars of<br />
the new platform are the home-based employment payroll and home<br />
tax equalisation methodology, the new, simplified approval matrix<br />
and the international assignment plan based on compensation using<br />
balance sheet methodology. These pillars all serve the goal of<br />
ensuring fair and standard compensation for employees assigned<br />
away from home, based on up-to-date market data in terms of<br />
compensation elements.<br />
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