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Ethics

One of the most important components of the operation of the MOL Group is the commitment to ethical behaviour. The challenges of the competitive market can be met by the MOL Group in the long run if it pays special attention to the requirements of moral responsibility from the private entrepreneur up to the corporate level. The good reputation of the MOL Group may be preserved only with business conduct based on fairness and integrity and compliance with legal regulations.

The MOL Group is committed to fair market behaviour and therefore every member firm places great emphasis during their operations on the fact that ethical values and expectations are valid without compromise. The MOL Group respects fundamental human rights. Compliance with the MOL Group's fairness and transparency requirements is also considered as an important principle and therefore the fight against corruption is an essential part of the MOL Group's corporate strategy.

A comprehensive ethical management system covering all members of the MOL Group has been set up to protect ethical values and to further strengthen the ethical foundations of the MOL Group's business and maintain the results achieved. In order to increase ethical awareness and prevent similar cases, the MOL Group not only publishes the number of ethical complaints, but since 2011 it also publishes the detailed, anonymous descriptions of the investigated ethical misconducts.

MOL GROUP'S ETHICS MANAGEMENT SYSTEM

Code of Ethics

All executive officers and employees of the MOL Group member companies (MOL Nyrt. and all business enterprises controlled by MOL Nyrt.) must act in compliance with the Code. All business partners must receive the Business Partner Code of Ethics as a binding appendix of contracts. At all companies owned but not controlled by MOL Nyrt. we make conscious and continuous efforts to implement the Code and to ensure our ethical norms are adopted.

 Ethics Council

The essential mission of the Ethics Council is to ensure the MOL Group's ethical conduct and coordinate structured ethics development at all MOL Group companies by making individual decisions on ethics complaints. Its operation is regulated in the EC Rules of Procedure. Permanent members of the EC are executive managers and employee representatives. The Chairperson of the Ethics Council is an external expert monitoring and safeguarding impartial and fair procedure and coordination of ethics training and communications activities.

 Ethics Officers

Operational work of the Ethics Council (e.g. operating grievance mechanisms, investigation, consequence management) is assisted by Group Ethics Officer. In the course of carrying out their tasks, Ethics Council and Group Ethics Officer are assisted by Local Ethics Officers appointed from among employees by chief executive officers of individual MOL Group Companies having 20+ full time employees.

 Ethics Grievance Channels

Internal and external stakeholders have the possibility to report an ethical infraction or seek advice in written (post, e-mail, internet system) and through the 7/24 phone message recording system. Anonymous complaints and questions can be submitted and confidentiality is ensured. The MOL Group does not tolerate repression against those reporting ethical issues.

 Ethics Communication

Ethics norms are communicated to the internal and external stakeholders regularly. Ethics Council publishes general and anonymous ethics resolutions to raise ethics awareness. Annual ethics statistics and ethical misconduct incidents are published on the MOL Group's webpage, intranet, in company newsletters and at annual managerial presentations in an anonymous way.

Ethics Training

Every newcomer receives a copy of the Code of Ethics and acknowledges it in writing. Tri-annually all employees must pass the Code of Ethics test via e-learning or classroom training. Service station employees must have special ethics training every 3 years. All managers must give a presentation about the Code of Ethics and ethics cases once a year to all direct subordinates.

 Ethics Monitoring

Country Chairpersons and CEOs must provide ethics related information annually (figures on e.g. CoE extension, training, actions). Ethics tasks given to each manager should be implemented into all managers’ yearly performance evaluations. Ethical behaviour should be integrated in the employee’s performance assessment.

 Ethics Risk Assessment

Ethics Risk Matrix contains ethics breaches' risk evaluation by impact and likelihood based on experiences and estimation. Self-assessment of the MOL Group companies must take into consideration annual reports of external institutions (e.g. Transparency International, Human Rights Watch).

 Ethics Audit

Regular internal ethics audits should be conducted in the MOL Group member companies and organisational units. The Ethics system should be audited by a third party  every 5 years.

LOCAL ETHICS OFFICER OF GEOINFORM Ltd.:

Dr. Gabor Alexovics
E-mail address for ethical complaints: etikaimegbizott@geoinform.hu

MOL Group Ethics Council:

Address: MOL Group Ethics Council
H-1117 Budapest, Október huszonharmadika u. 18
e-mail: ethicscouncil@mol.hu
24-hour phone with answering machine: (+36 1) 464-1725 or extension 21-725.

SPEAK-UP!
ASK YOUR ETHICAL QUESTIONS, REPORT NON-COMPLIANCE OR BREACH OF THE CODE OF ETHICS

MOL Group Compliance & Ethics department operates a corporate grievance mechanism under the coordination of the Group Ethics Officer and according to the Ethics Council Rules of procedure whereas questions are answered, complaints are investigated and the Ethics Council assesses the raised issues.

https://mol.hu/en/about-mol/ethics-and-compliance/speak-up

Complaints forwarded to the Company and all documents and information resulting from or made available in the course of ethics procedures are classified as confidential information and are treated with due care by the Company. All parties involved in the ethics procedures (member of the Ethics Council, Group Ethics Officer, Local Ethics Officer, investigator, complaint, witness, expert, concerned person etc.) are required to treat all information as confidential.

 Related documents:

Code of Ethics

Business Partner Code of Ethics

Ethics Council’s Rules of Procedure