News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)
A good sustainability report offers companies many advantages; It provides information to stakeholders and ensures transparency. It serves as a central instrument for controlling all processes in sustainability management. It makes employees more aware of the issue of sustainability.
What makes a sound report?
The Institute for Ecological Economy Research (IÖW) and the entrepreneurial initiative future e.V. have developed a catalogue of general evaluation criteria. Below is a summary of the characteristics according to which all reports are evaluated:
- MATERIAL REQUIREMENTS FOR REPORTING
Company profile:
- Background information on the company
- Relevant changes compared with the previous year
- Presentation of ownership structure
- Company shareholdings
Vision, strategy and management:
- Overview of internal and external stakeholder involvement
- Materiality analysis
- Corporate strategy
- Compliance and anti-corruption
Goals and program:
- Quantified report on sustainability-related objectives with timelines
Employee interests:
- Overview of guidelines, norms and standards on human and employee rights
- Remuneration policy
- Working time regulations
- Training
- Occupational health and safety
- Promotion of employee satisfaction
Ecological aspects of production:
- Energy management and climate protection goals
- Corporate production processes
- Raw materials and materials
- Waste and water management
- Logistics concept
Product responsibility:
- Impact of the product life cycle on sustainability
- Customer information and consumer protection
Supply chain responsibility:
- Identifying impacts and development potentials of the supply chain
Social environment/social responsibility:
- Information on the company’s regional responsibility
- Lobbying
- Political commitment
2. REQUIREMENTS FOR GENERAL REPORTING QUALITY
Credibility/openness:
- Write an open report on key sustainability issues
- Link it to the business strategy
- Publish external assessments and statements
- Provide comparable data
- Inset a management statement
Reporting on material topics:
- No omission of material topics
- Justify if an area gets special focus
Communicative quality:
- High quality of structure, text and design of the report
- Online reports with good navigation and menu navigation
- Reference to additional information and documents, if necessary
Should you ever lose track of the big picture, my colleagues and I from the AGN EMEA Accounting, Auditing & Education Committee (AAEC) will be happy to help and guide you safely through the IFRS and CSR jungle. As a member of AGN International, you can use the AGN AAEC Helpline at any time or contact me by email at carsten.ernst@wirtschaftstreuhand.de or by mobile phone at +49 173 8710322.
 Carsten Ernst Managing Partner Wirtschafts Treuhand Group Stuttgart, Germany | – Expert in financial (IFRS) and sustainability (ESRS and GRI) reporting – Audit of financial and sustainability reports in accordance with ISAs – Member of the following AGN bodies: – EMEA Board of Directors (Chairman) – EMEA AAEC Accounting, Auditing and Education Committee (Member) |
