Ethical behaviour

Commitment

One of the most essential components of MOL Group’s operation is our commitment to the ethical behaviour. In the long term, we can only successfully face the challenges of competitive market environments by accepting the imperatives of moral responsibility, both as individuals and as a Company. We can preserve the Company’s reputation only by irreproachable business conduct and full compliance with the Law. However, the development of the solid ethical foundations of our company is not driven by external forces but is rather the result of MOL Group’s inherent aspirations.

We are proud of our track record: ethical behaviour has a fairly long tradition and history in MOL Group companies -– the ethics culture has taken root by now. The first Code of Ethics was introduced in 1992 and since then it is kept continuously updated based on external and internal changes. In line with integrated business operation, in 2006 we integrated the ethics committees of MOL Nyrt. TVK Nyrt. and Slovnaft a.s. at Group level and set up the MOL Group Ethics Council.

Our responsibility is not limited by corporate boundaries: MOL Group is fully aware of and assumes corporate responsibility for all internal and external stakeholders, and so, we also make conscious efforts to convey our core values to other parties:

MOL Group is dedicated to practicing fair market behaviour and we make efforts to integrate ethical values and expectations into our whole Supply Chain.
MOL Group respects fundamental human rights.
Integrity and transparency are important values for us and fighting against corruption is an essential part of our corporate strategy.

In order to strengthen and preserve the ethical foundations of our business operations and to protect the ethical values we established a comprehensive ethics management system. From this site you may download MOL Group Code of Ethics, MOL Group Business Partner Code of Ethics and the EC Rules of Procedure. You have the possibility to report breach of the Code of Ethics in our SpeakUp! system. Starting from 2011 we not only report the number of ethical cases but also anonymously disclose in details the unfolded ethical misconducts to raise awareness and prevent similar cases.

Code of Ethics

The first Group-level Code of Ethics developed for all subsidiaries and member companies was issued in 2007. In the course of drafting the current version that was revised in 2010, we have taken into account international standards and best practices, as well as internal practices and experience in order to improve our ability to meet stakeholder expectations and to strengthen its consistent use in everyday operations.

The Code of Ethics is designed to provide all stakeholders with an overview of the ethical norms that MOL Group considers to be of key importance in the course of its operations within and outside the Group; MOL Group expects stakeholders to live up to and act in compliance with these norms, and render support to the identification and management of ethical issues, and support the process of reporting ethical compliance issues. The Code presents in summary form the ethical norms to be followed, draws attention to potential breaches of the Code, and provides guidance to help identification and management of ethical issues, and explains how to report a breach of the Code of Ethics. All executive officers and employees of MOL Group member companies – namely, MOL Nyrt. as the parent company and all business enterprises controlled by MOL Nyrt. – must act in compliance with the Code. We pay particular attention to ensuring that MOL Group service station employees also become familiar with and apply the Code of Ethics.

At companies owned but not controlled by MOL Nyrt., we make conscious efforts to have our ethical norms adapted. In addition, we also expect other stakeholders to act in compliance with the norms set forth in the Code.

MOL Group Business Partner Code of Ethics is the abstract of MOL Group Code of Ethics and contains the norms of ethics we consider particularly important in our business relations and our business partners are also expected to comply therewith.

The primary objective of the EC Rules of Procedure is to promote ethical conduct prescribed in the Code of Ethics; to specify the roles and responsibilities of the organisational units and persons involved therein; to define the rules applicable to ethics investigation procedures; and operations of the Ethics Council (ethics officers).