Ever since 2005, HELLENIC PETROLEUM Group has published an annual Sustainable Development & Corporate Social Responsibility Report, the objective of which is to improve communication and share information with the company’s social partners (stakeholders).

This year’s 14th annual edition presents the Group’s business performance, taking into account economic, environmental and social perspectives from 01.01.2018 to 31.12.2018.

Our corporate responsibility approach is aligned with the Group’s mission and values and articulates how we see our responsibilities in the areas of health and safety, ethical and transparent business practices, environmentally sustainable operations, a sound working environment and value creation for our shareholders.

Report’s Boundaries

The data reported, is consolidated at Group level, with minor exceptions in certain areas. Specific environmental indicators are presented in detail for each of the Group’s business units. In terms of the selection of the Group’s companies included in this Report, we took into account (a) the list of companies included in the Group’s consolidated financial statements (see Annual Financial Report for Fiscal Year 2018, p. 207–210) and (b) the materiality study concerning sustainable development issues related to the Group’s activities (see Material Matrix) and their boundaries (see per GRI 103 “Management Approach”, according to a set of selection criteria, such as participation and control, impact and risks, sales and number of employees. Consequently, the information and data included in this Report refer to the following specific 10 companies within the Group:

  2. ΕΚΟ S.A.
  4. DIAXON S.A.


All indices, units of measurement, quantities and sizes reported correspond to measurements and data recorded in accordance with the best available practices, internationally accepted standards and international codes pertaining to the petroleum industry. Differences in measurement methods do not exist, compared with previous versions, but the review of information in the privacy policy has been made. There are no other restrictions, exceptions or changes, unless otherwise stated in the text.

Since 2007, we have been using the Global Reporting Initiative (GRI) and the CoP Report (Communication on Progress), in compliance with the 10 Principles of the United Nations Global Compact as a framework for drafting this Report. More specifically, we apply:

  • GRI (Global Reporting Initiative) Sustainability Reporting Standards as well as the “Oil & Gas Sector Supplement” – Comprehensive Level (see Appendix 1)
  • The 24 criteria of the UN Global Compact, CoP Report – Advanced Level (See Appendix ΙΙ)

We also recognize the importance of the 2030 Agenda, which is a joint commitment that has been made by governments, businesses and citizens around the world related to achieving its 17 Sustainable Development Goals and we have committed ourselves to integrating them into all Group activities over the next decade as well as disseminating them to all of our stakeholders.

Also, since the 2015 edition onwards, the Group has reported data based on the 20 criteria of the Greek Sustainability Code (Level A), developed within the Sustainable Greece 2020 Initiative, which essentially responds to the need to measure economic, environmental and social performance (See Appendix ΙΙΙ)

Materiality Assessment

Based on the GRI Principles relating to Stakeholder Materiality, Completeness and Participation, in 2018 we carried out a substantive analysis of the 26 recognized sustainable development issues related to the Group’s activities. (a) Three focus groups were held in Athens, Thessaloniki and Elefsina with representatives from all stakeholder groups (see Stakeholders’ Groups) (b) ten interviews were conducted to assess the relevance of these issues with key employee representatives and local government representatives from the areas in which the Group operates, (c) an electronic survey was performed involving representatives from all stakeholder groups (see Chapter 3 – Stakeholders’ Groups), as well as (d) an electronic survey involving senior executive teams from within the Group. The results of the hierarchy were validated by the Group’s Management and mapping was completed (a combination of the Y & X Axis on the Materiality Matrix) with the emergence of 10 key topics of sustainable development (see Materiality Matrix).

We regularly redefine who our stakeholders are, namely those who are significantly influenced and/or influence the Group’s business activities, and in addition to regular communication and the clear-cut cooperation framework  that’s been already set out, we conduct focus groups, interviews and surveys to identify and evaluate any material topics. In 2020, we intend to re-examine these topics by increasing the sample of stakeholders so that such topics can be turned into opportunities for the Group’s continued growth and sustainability.

Readers of this Report may also find useful information and financial information about the Group in the 2018 Annual Report, in the Annual Financial Report for the fiscal year 2018 and the Group’s website,

Certifications and Assessment Tools

Independent Certification Body

To ensure accuracy, completeness and reliability, this Report has been audited and validated – as a whole and in terms of its substance – by an independent, external certification body prior to its publication, which can be found here.

The independent body which reviewed the Report has also certified the “in accordance with/Comprehensive” level as per the requirements of the GRI Standards and the Oil & Gas Sector Supplement indicators. This Report also satisfies the requirements of the UNGC’s CoP Report (Advanced Level).

Furthermore, the accuracy of the data is assured through internal validation procedures and annual audits made by accredited certification bodies. These inspections and audits ensure that the Report is reliable, adequately balanced and relevant to the expectations and interests of the Group’s stakeholders.

“Maturity & Integration Assessment” (MIA-Tool)

HELLENIC PETROLEUM, as member of the CSR Hellas network, has successfully completed implementing for the first time the methodology for assessing the integration level of the CSR principles, with the use of MIA tool (Maturity & Integration Assessment Tool), a tool created by CSR Europe network and its stakeholders, and is provided through CSR Hellas to its members.

MIA tool a) surveyed the current situation b) made proposals regarding improvements, and c) compared the level of maturity with the pan-European average.

This particular tool is used for the long-term improvement of the company’s strategy and policies within the framework of the Groups corporate social responsibility principles for sustainable development, management issues included whilst responding to the needs of its stakeholders. MIA Tool’s reference framework is the European policy on CSR and the 10 principles of the UN Global Compact as a common scope for all businesses regardless of size and industry.

In this context, assessing material issues and addressing points related to the company’s long-term viability, such as respect for human rights and industrial relations, integrity, human resources development and adaptation to change, health and safety at work, relationships with local communities, customers and suppliers, products and lifecycle, climate change, water use etc. were studied. By implementing the MIA Tool methodology, HELLENIC PETROLEUM, with its long-term and systematic involvement in collective CSR activities for sustainable development at local, regional and international level, has further developed all management sectors and control systems that strengthen its commitment to key stakeholders and continuously upgrades policies and systems adopted to improve overall short and long term performance.