Background information

The vision of MOL Group is intelligent energy transformation. It advocates a smart transition to green energy, while maintaining the sustainability and economic prosperity of Europe. On 13th October 2016 the Board of Directors formally approved MOL’s new long-term strategy, MOL Group 2030 Enter Tomorrow . In 2021 this strategy was re-named into Shape Tomorrow 2030+ and updated. New focus on green transformation was added and sustainability targets were introduced. In second update in 2024 key focus areas of 2021 Strategy remained and extra emphasis on supply security and green transformation was put in 2024 update, for instance increased focus on sustainability and circular economy and addressing energy supply security concerns. The name of the strategy was modified into Shape Tomorrow .

Content of measure

The goal of the 2016 Enter Tomorrow strategy was to transform the MOL Group from a traditional oil and gas company into a company with a broader focus to make it one of the most interesting companies in Central and Eastern Europe by 2030. The refineries of the MOL Group had to increase the production share of high-value non-fuel products on the market above 50% of the total production by 2030. The investments had to be spent primarily on the development of chemicals, plastics and other related derivatives. The 2016 strategy also planned to invest in new sectors outside the traditional fossil world.

In the 2021 update - the Shape Tomorrow 2030+ strategy, business activities and MOL Group and Slovnaft company decisions mirror the Environmental, Social and Governance (ESG) pillars. The strategy aims at involvement of the company in the circular economy, reduce emissions and cooperate with communities. Sustainability covers four areas: * climate and environment, * people and community, * integrity and transparency, * health and safety.

The strategy sets sustainability targets in every division, for instance:

• achieving carbon neutrality by 2050 in all areas,
• reduction of absolute greenhouse gas emissions at the group level by 25% by 2030 from the base in 2019,
• zero work-related deaths,
• increasing the participation of women at all levels and to 30% in management positions by 2030,
• 50% of social investments in local communities.

In 2023 in the field of new technologies development, the company received the subsidy from the Modernization Fund which will be used for green projects aimed at reduction of greenhouse gas emissions through a combination of increasing energy efficiency and modernizing technologies.

Use of measure

Total of 815 thousand of tons of alternative oil was processed in 2023 which is almost four times more than the volume of 2022. The company received the subsidy from Modernisation fund with total allocation of €44 million to use it for green projects aimed at reduction of greenhouse gas emissions.

Contents

• Other topics

Target groups

Workers	Businesses	Citizens
Particular professions	Larger corporations	Applies to all citizens

Actors and funding

Actors	Funding
Company / Companies	Companies Other

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	Unknown	Unknown
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• Unknown
• Main level of involvement: Company level

Involvement

The information on involvement of social partners is not available.

Views and reactions

The information on views or reactions of social partners is not available.

Sectors and occupations

This case is not occupation-specific.

Sources

• 03 March 2017: Annual Report 2016. Slovnaft. (slovnaft.sk)
• 22 March 2022: Annual Report 2021. Slovnaft. (slovnaft.sk)
• 01 January 2024: Strategy of MOL Group 2030+ „Shape Tomorrow“ (Stratégia skupiny MOL 2030+ „Shape Tomorrow“) (slovnaft.sk)
• 01 March 2024: Shape Tomorrow Strategy Review. Capital Market update. (molgroup.info)
• 17 June 2024: Annual Report 2023. (slovnaft.sk)