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Initiative

Sustainable Development Committee

Sustainable Development Committee
SUBMITTED FROM:

MOTOR OIL

Motor Oil was founded in 1970 and the first year of operation of its refinery was 1972.

Motor Oil is a modern energy group that holds a leading role in the field of crude oil refining and the trading of petroleum products in Greece and in the wider Eastern Mediterranean region, while at the same time it is active in the LPG, electricity and natural gas trading sector and in the sector of renewable energy sources.

It has been listed on the Athens Stock Exchange since 2001. It is included in the General index (ATHEX COMPOSITE INDEX), in the Large Cap index (FTSE/ ATHEX LARGE CAP), as well as in the international index FTSE4Good Index Series. Its Refinery is considered one of the most modern refineries in Europe with a complexity rating of 11.54 (Nelson Complexity Index).

www.moh.gr

 

Corporate videos & Statements



Objective Action

Strengthening the Group's corporate governance through the creation of a support mechanism for the Board of Directors to make the right strategic decisions and monitor risks/opportunities and performance regarding ESG criteria and Sustainable Development.

 

Target Audience

All interested parties (Investors, Banks, Analysts, customers, etc.)

 

Duration

On going 


Description

The Sustainable Development Committee was established in June 2021. Its role is to support the Board, oversee and approve the sustainable development strategy, monitor the integration in the processes, define ESG objectives, identify risks and opportunities, decide on corrective actions and monitor the performance of ESG criteria and sustainable development of the MOTOR OIL Group. The committee is also responsible for approving, monitoring and overseeing progress towards climate-related goals (decarbonisation plan). Its members are executive and independent members of the Board.

 

Publicly available information: https://www.moh.gr/enimerosi-ependyton/eteriki-diakivernisi/epitropes/


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Impact on Society

We managed to be upgraded to the 3 largest ESG rating agencies

MSCI, Sustainalytics and ISS



Initiative Location

Company Facilities


Working with Organization

NO 


Workers Participation

Executive and non-executive members participate in the committee, it is chaired by the CEO and supported by the general managers, the ESG working group (including managing directors), department managers, as well as company representatives on ESG matters.


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Benefits for Οrganization

-Transparency in decision-making

-Organization

- Ensuring credibility with stakeholders

- Ensuring ESG integration in the Group's operations

-Better management of corporate responsibility and sustainable development goals




Connection with Global Goals







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