Royal support for sustainable reporting

We live in the era of crisis. Whether it concerns the banking sector, real estate or individual EU countries’ budgets: they are all vulnerable and a call for change is heard. One of the most called for instruments: more and better control. This is not without cause…. 

Transparency
The same thing annoys all investors, shareholders and supervisors: the lack of transparency of businesses. The profit and loss account alone only gives some insights into the operations of organisations. More transparency is required to be able to judge how a company is really doing.

Paul Druckman about integrated reporting: 

Where are we and is it really an important issue for today? 

Value creation
The classic way of reporting is over. The time of integrated reporting has come: a new form of reporting that concerns the value creation activities of organisations. The financial performance remains important of course, but next to that there is also room for non-financial performance: how have the financial results been achieved? And what effects did the business operations have on the quality of life for people and planet? In short: how sustainable is the business conducted?



More than hype
Integrated reporting is more than ‘the newest hype’ and is embraced by more and more multinationals. By example: in 2011 only 40% of the 50 largest Dutch companies were engaged in integrated reporting. In 2012 this percentage increased to 90! Even the British crown prince Charles favours the practice of integrated reporting …


GRI G4
In May 2013 the Global Reporting Initiative (GRI) launches the new G4 guidelines for sustainability reporting. Although these guidelines will focus more on the relevance of the aspects reported (materiality), they also take a head start with regards to the integrated reporting guidelines currently under development. Luckily the EFQM Model is an integrated model and that is why the EFQM community is awaiting the new reporting guidelines with confidence!

Transparency in the ‘turbulent teens’

Being socially responsible is not only a matter of doing but also of communication: to show what you are doing, why and how. To inspire others, and also to offer room for stakeholders' ideas. The key word is transparency. Discover how transparency can help deal with the challenges of these times.

De Kristal

The Dutch Ministry of Economic Affairs, Agriculture and Innovation wants to encourage companies to be transparent about their sustainability activities. Good reporting is of crucial importance to separate the wheat from the chaff: how are the big companies doing and what types of improvements are there? Every year a selection of companies are evaluated on this in the Transparantiebenchmark. The winner receives the prestigious De Kristal award.

Turbulent teens

Social responsibility is here to stay, but what is really happening and, still more important: how effective is it? These are turbulent times because the world is on the move. Different problems are addressed in the report Vision 2050: the new agenda for businesses: unemployment and social unrest such as e.g. happening in South Europe; climate changes and scarcity of raw materials. We are only at the beginning of a difficult road: ‘The turbulent teens have just started.’ Therefore we need a radical, fast reformation, namely NOW.

Accountants to the rescue

Revolution does not occur automatically; we must actively work on it by creating the right frameworks. ‘We must change the rules of the game’, says Peter Bakker of the World Business Council for Sustainable Development (WBCSD). Meaning: companies must pay for the natural and social consequences of their activities. It is time to draw up rules for non-financial reporting (for natural capital and social capital), only then will real transparency emerge. A good example for this is Puma: they map the Cost of the Planet of their company’s activities.  

Your true nature

On the 22nd of November three companies received De Kristal 2012 award. Mondial Movers was chosen for the second time in a row in the category SME, while DSM was the big winner among the large companies. Koninklijke Wessanen won the award in the category ‘biggest improver 2012’.

The jury had chosen the credo ‘Show who you really are, what your true nature is’ in order to select the winner. This may be the golden tip for those who want to go for next year’s award.