Sustainability Report 2011 - English version - EuroCharity

Sustainability Report 2011
8
1. Μessage to our Stakeholders
During the last few years we have witnessed significant
changes in the global economic environment. The markets
have been characterized by great instability in the wake of
the financial crisis, which has affected business activity on a
global basis. Moreover in Southern Europe, large budget deficits
and high debt levels have been addressed through the
application of strict fiscal adjustments and austerity measures,
leading to recession and increasing unemployment.
At the same time, political and social crisis prevailing in certain
oil-producing countries and its effect on crude oil availability,
maintained oil prices at high levels. This development
combined with the noticeable decline in oil products demand
in Europe and especially in Greece, lead to a decline of refining
margins, as well as oil products, marketing margins have
affected industry players and their profitability.
As would be expected in such a difficult environment, HEL-
LENIC PETROLEUM came up against many challenges that
the company had to face with business insight and dynamism.
The challenges we face, did not prevent us from continuing
to work hard, responsibly and effectively.
We seek to be a strong leading regional Group, with sustainable
development fully integrated into our plans and actions.
Our objective is to claim one of the leading positions in every
"We seek to be a strong
leading regional Group,
with sustainable development
fully integrated into
our plans and actions".
business activity and in every market the Group is involved in,
while at the same time be pioneers in the development of our
human resources and the enhancement of our competitiveness,
innovation and transparency. Strong corporate social
responsibility practices are part of our everyday business life
for many years now, and we apply continuously, comprehensive
and effective policies in the management of Health,
Safety and the Environment.
We are proud because during the last years, while addressing
a most challenging environment, we have implemented
an ambitious € 3 billion investment plan, in order to upgrade
our assets, meet the country's energy needs and fuels specification
and increase substantially our exports and our integrated
regional market coverage.
In this report, we present the initiatives undertaken by
HELLENIC PETROLEUM to respond to all these challenges,
while continuing to accomplish our goal for sustainable
development. Extensive reference is made on the planning
and implementation of our comprehensive programs, as well
as on our performance in the areas of environmental protection,
continuous improvement of employment conditions,
safe operations, sustainable business growth and corporate
governance.