Welcome to the Sustainable Development & Corporate Responsibility Report of the HELLENIC PETROLEUM Group, which presents our performance for the Society, the Health, the Safety and the Environment in 2019, as well as the most important events of the year for the company.

Ever since 2005, the HELLENIC PETROLEUM Group has been publishing an annual Sustainable Development & Corporate Social Responsibility Report in order to better inform and communicate with its stakeholders.

This year’s 15th annual edition presents the Group’s business performance from three different perspectives – the economic, the environmental and the social one – from 01.01.2019 to 31.12.2019.

Our approach is aligned with  the Group’s mission and values and reflects the responsible way in which we view the fields of health and safety, ethical and transparent business practices, environmentally sustainable operations, a sound working environment and value creation for our shareholders.

Aim and Scope of the Report

The reported data are consolidated at Group level, with minor exceptions in certain areas. Specifically, the environmental indicators are presented in detail for each of the Group’s business units. In selecting the Group’s companies included in this Report, we took into account

  • the list of companies included in the Group’s consolidated financial statements (see Annual Financial Report for Fiscal Year 2019, Ch. 2 “Board of Directors’ Consolidated Annual Financial Report for 2019” pp. 66-69), and
  • the materiality study concerning sustainable development topics related to the Group’s activities (see Material Map) and their boundaries (see per material issue: GRI 103 “Management Approach”, such as participation rate and control, impact and risks, sales, and number of employees.

Consequently, the information and data included in this Report refer to the following 10 companies within the Group:

  2. ΕΚΟ S.A.
  4. DIAXON S.A.


All indices, units of measurement, quantities and metrics stated in the Report correspond to measurements and data recorded in accordance with the best available practices, internationally accepted standards and international codes pertaining to the petroleum industry. There are no differences in measurement methods, compared with previous versions, but a review of information in the personal data protection 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) standards and the CoP Report (Communication on Progress), in compliance with the 10 Principles of the United Nations Global Compact as a framework for drafting the present Report. More specifically, we apply:

  • The GRI Sustainability Reporting Standards and the Sectoral Indices of 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)

Moreover, we recognize the importance of the 2030 Agenda, which is a joint commitment by governments, businesses and citizens globally, 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 among all of our stakeholders.

Also, the Group reports its data based on the 20 criteria of the Greek Sustainability Code (Level A), developed in the framework of the “Sustainable Greece 2020” Initiative, which essentially responds to the need to measure economic, environmental and social performance (See Appendix ΙΙΙ).

Lastly, the Group, as a company listed in the Athens Stock Exchange, has for the first time adopted the ATHEX “Guide for reporting non-financial information” (Advanced metrics & Sector-specific metrics) and presents its performance in matters of environment, the society and corporate governance (ESG), seeking to achieve a more effective communication with investors via high-quality and comparable data (See Appendix IV).

Defining Material Topics of Sustainable Development

Based on the GRI Standards (2016 edition) and the Principles of Content Definition (stakeholder consultation), the Sustainability Framework, the Substance and the Completeness, we carried out a materiality analysis of the 20 recognized sustainable development topics related to the Group’s activities. In order to assess the importance of these topics,

  • two focus groups were held in Athens and Thessaloniki with key representatives from all stakeholder groups (see Stakeholder Groups, p. 23),
  • ten interviews with key representatives of employees and local government representatives from the areas in which the Group operates,
  • an electronic survey involving key representatives from all stakeholder groups (see Stakeholder Groups, p. 23),
  • an electronic survey involving executives of the Group were conducted.

The results of the prioritization were validated by the Group’s Management and mapping was completed (a combination of the Y & X Axis on the Materiality Map) with the emergence of 11 key topics of sustainable development. (see Materiality Matrix).

We regularly redefine who our stakeholders are, namely those who significantly influence and/or are influenced by the Group’s business activities. Apart from regular communication and the clearly defined framework of cooperation with them, we conduct focus groups, interviews and surveys in order to identify and evaluate any material topics. In 2022, we intend to reexamine the materiality topics by increasing the sample of stakeholders so that such subjects can be turned into opportunities for the Group’s continued growth and sustainability.

Readers of this Report may also find useful information and financial data about the Group in the 2019 Annual Report, the Annual Financial Report for the fiscal year 2019 and the Group’s website.

Certifications and Assessment Tools

Independent Body Certification

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.

EcoVadis Assessment Tool

The EcoVadis assessment body is an international supplier evaluation platform on matters of corporate responsibility. The EcoVadis ranking system (CSR Rating) refers to the assessment of the quality of a Company’s Corporate Responsibility management system on the basis of its policies, practices and related results. The assessment uses 21 criteria, which are based on international Corporate Responsibility standards, such as the Global Compact Principles, the conventions of the International Labor Organization (ILO), the Global Reporting Initiative (GRI) standards, the ISO 26000 standard and the principles of CERES.

Since 2015, the HELLENIC PETROLEUM Group, through its subsidiary HELLENIC FUELS & LUBRICANTS SA, has been participating in the EcoVadis assessment platform, responding to the relevant request of its customers and offering them access to the relevant reviews and performance – elements that the customers can use as a criterion for collaboration. In 2019, the Group received a “Silver Recognition Level” award for its business practices and commitment to sustainable development, having been evaluated in the following four units: Environment, Labor Practices & Human Rights, Ethics, and Sustainable Procurement.

According to the assessment, the Group is in the top 23% of all companies of the sector assessed by EcoVadis, while the results per unit are also remarkable. Specifically, the Group appears in the top 3% of the leading suppliers of the sector for the “Environment” unit, in the top 4% for the “Ethics” unit, in the top 12% for the “Sustainable Procurement” and in the top 34% for the “Labor Practices & Human Rights” unit.