Ever More Corporate Sustainability Reports
MOL Wins Deloitte's Green Frog Award
Budapest, March 13th, 2014– Once again, Deloitte Hungary handed out the Green Frog Award for the best corporate sustainability report, a prize aspired by as much as thirty-three middle-sized and large enterprises of six countries in the region this year. According to the panel of independent expert judges, the best report in 2013 was prepared by MOL Plc. With this award, Deloitte Hungary wishes to encourage companies in the region to pursue an annual reporting practice which is not limited to presenting the sheer financial aspects of their operation.
Competition was strong for the 2013 Central European Sustainability Report Award, commonly called as the Green Frog Award. The judges had a difficult time selecting from reports of the highest standards ever submitted. Companies applying for the award have been focusing increasingly on publishing their sustainability data in a transparent manner and, therefore, many included chronological data or infographics. It is also seen as a positive trend that the number of reports applicants submitted with a verification increased.
This year, Miklós Persányi, Director General of the Budapest Zoo and Botanical Garden, Attila Kemény, Deputy Chair of the Board of the Association of Environmental Enterprises, Ida Petrik, Director of the World Business Council for Sustainable Development Hungary and Péter Szigeti, Head of Content Development of Kreatív magazine made up the panel of independent expert judges. The experts made their selection from sustainability reports of companies based in Hungary, Czech Republic, Estonia, Latvia, Serbia and Slovakia.
Outdoing a number of its competitors, this year's winner of the Green Frog Award committed itself to integrated reporting years ago: MOL has been publishing financial and non-financial indicators hand-in-hand for years now. The company presented its wide-ranging operation portfolio in a clear and well-structured form. The report reflects that it was prepared with respect to industry best practices and benchmarks. The highly informative nature and high-quality graphic design of the winning application also contributed to the decision of the judges.
“Incorporating the principles of corporate sustainability into our daily business practices is essential of the company’s success in the long-term. Our commitment is reflected in our Annual Report, where we publish our sustainability performance within the framework of the financial results. We are pleased that this award also acknowledges our efforts.” – said MOL Group CEO József Molnár.
Apart from the winner, in Hungary among others also MVM Zrt., Zwack Unicum Nyrt., Szerencsejáték Zrt., OTP Bank Nyrt. and Magyar Telekom Nyrt. had high-quality reports, while of foreign companies in the region the judges highlighted the reports of Erste Bank a. d. Novi Sad, Latvenergo AS, NIS a. d. Novi Sad, and aVeolia Voda Czech Republik.
The reporting practice has been improving in quality both in Hungary and in other countries of the region while particular areas might require further improvement. For instance, certain companies keep on cramming their reports with too much information while others still end up submitting unverified sustainability reports. At the same time, it also becomes clear from the reports that companies are placing and increasing value on the sustainability of their business.
In 2013 Deloitte Zrt. was selected by the International Tax Review journal as the tax firm and transfer pricing advisor of the year in Hungary and the tax firm of the year in Central Europe.