Orange Poland, Nornickel and Plzensky Prazdroj win Deloitte Green Frog Awards for the best integrated and sustainability reports in the CE & CIS region for 2018
More countries and companies in the region see the value of non-financial data and integrated reporting
Warsaw, 16 April 2019 – Orange Poland, Nornickel and Plzensky Prazdroj win Deloitte Green Frog Awards for the best integrated and sustainability reports in the CE & CIS region for 2018. This year, Russia and other countries of the Commonwealth of Independent States joined the initiative. Awarded reports were chosen from 112 reports, which were taken into consideration during this year’s edition. The awards gala was held in Zagreb, during the “Investing in Sustainability” conference organized by Deloitte.
- By rewarding the best non-financial reports, Deloitte contributes to increasing the awareness of the benefits and business value of sustainable development. Last year, 69 reports competed for the award. The total of 112 reports submitted this year set a new record – the majority of reports came from Poland (44%) and Croatia (18%) – states Irena Pichola, Partner, Leader of the Sustainability Consulting Central Europe.
– Deloitte's Green Frog Award for the Best Integrated and Sustainability Report is an initiative that aims at promoting sustainability as the foundation for business success. From year to year, more and more participants are invited to this competition, but this year is particularly impressive – said Ivana Turjak Čebohin, Deloitte Audit Director and Leader of non-financial assurance and reporting practice in Croatia. – We are hoping that Croatian companies will recognize the need of integrating sustainable goals into strategic goals, as an indispensable key condition for a long-term growth and success – adds Ivana Turjak Čebohin.
Jury and the awarding process
The Green Frog Award is a two-level process:
- National level – Companies may demonstrate their sustainable activities at the national level by means of non-financial and integrated reports that are assessed by a local jury.
Companies whose reports receive the best score compete for the regional Green Frog Award.
- Regional level – Winners of the National GFA level are automatically nominated to the Regional level covering all other Central European countries. The following nominations are available for participation: The Best CE and CIS Sustainability Report and The Best CE and CIS Integrated Report.
Reports at the regional level were evaluated by an independent Jury composed of recognized experts from many countries and specializations, including Robert Adamczyk, Lead Sector Environmental Adviser at European Bank for Reconstruction and Development (EBRD); Jakub Wojnarowski, Head of ACCA Poland & Baltic States; Iren Marta, Managing Director, Business Council for Sustainable Development in Hungary; Agata Stafiej-Bartosik, Country Director, Ashoka Innovators for the Public; Marzena Strzelczak, General Director, Responsible Business Forum; Andrew Wrobel, Chief Strategist, Emerging Europe Alliance for Business Services, Innovation and Technology; Emiliano Ramos, Partner for Growth and Partnerships, Emerging Europe.
Analysis and trends
Every year, the number of reports submitted to the contest increases. In this edition, 112 reports were submitted for national eliminations, out of which the best 10 were promoted to the regional level of the Green Frog Award.
– Every year, we note that the quality of reports submitted to the competition increases. What is more the number of integrated reports also rises. This year integrated reports accounted for 15 percent of all reports submitted to the contest, out of which 60 percent were subject to independent external verification. It shows that the leaders in our region started to adopt the best global practices. In this year's edition, 81 percent of reports were prepared in line with the international Global Reporting Initiative standard (GRI), with even higher number on particular markets: 90% in Poland, Russia & CIS, and 80% in Croatia – says Maria Ibisz, Manager, Deloitte Sustainability Consulting Central Europe. – Companies that want to win the recognition of the Jury must constantly develop a strategic approach to sustainable development management, start integrated thinking which will materialize in true integrated reporting, strengthen transparency and improve risk management involving climate change – adds Maria Ibisz.
All of the reports submitted this year were prepared in line with International Integrated Reporting Council (IIRC) guidelines. Markets leading in integrated reporting are Poland (24%) and Croatia (20%). Over one third of all reports were externally verified. All of the externally verified reports were prepared in line with Global Reporting Initiative (GRI) methodology and standards. Most popular standard of non-financial assurance is ISAE 3000.
The evolution of reporting
Financial factors of building enterprise value – revenue growth or capital cost – are closely related to non-financial factors, e.g. brand value, risk management and the so-called ESG (Environmental, Social, Governance). Investors, clients and other stakeholders seem to pay more attention to these non-financial factors, as they want to get a more comprehensive picture of the company, its current business condition and future outlook. Criteria of Green Frog Awards were created to reflect these challenges, focusing on quality of reporting concerning: Financial and non-financial data integration, Sustainability performance & strategic commitments, Materiality, Content, Structure & creativity in communication and Impact measurement.
Measuring and disclosing the impact of company's operations is a sign of maturity and readiness to tell the company's story that goes beyond offered products or services. More organizations decide to present their contribution to economic growth, the development of local communities and the management of their environment footprint. The impact description should indicate both positive and negative effects and preferably, be based on quantitative information and not only qualitative stories. What we see as a new growing trend in our region is that leaders enrich their brand storytelling (and use it more often for managerial purposes) with solid facts such as contribution to GDP creation, sustained employment throughout value chain or generated household income. What is important, these measures come from a robust analytical and calculation process – says Rafał Rudzki, Senior Manager, Deloitte Sustainability Consulting Central Europe.
Green Frog Awards granted since 2000
Green Frog Award is an annual recognition awarded by Deloitte Central Europe and other regions for the best sustainability and integrated reports. It aims at identifying and rewarding excellence in corporate non-financial and integrated reporting in Central Europe and other selected regions. Green Frog Award is being supported by the Global Reporting Initiative and International Integrated Reporting Council. The criteria of the contest were presented for consultation to both organizations.
The Green Frog Award (GFA) was launched in 2000 in Deloitte Hungary and was embraced step by step by other CE countries (the Balkans joined in 2009, Czech Republic in 2012, and the Baltics in 2013). This year, Russia and other countries of the Commonwealth of Independent States joined the initiative.
Green Frog Award winners:
Best integrated report:
Orange Poland – Best integrated report in the CE & CIS region for 2018
This report presents a mature approach to management and having a business model, which integrates the finance and ESG perspective. Principles of Balance, Credibility and Reliability are highly represented – the report shows not only strong sides of the organization but also areas for improvement. The report is comprehensive in its content, well-structured and effective in navigation - with no harm to it’s complexity. Additionally, the report has been submitted for external verification in accordance with standard ISAE 3000.
Best sustainability report (ex aequo)
Nornickel – Best sustainability report in the CE & CIS region for 2018
While treating facts and material in a balanced manner, the report offers a tangible deep-dive view of where Nornickel stands on sustainability, what role it plays and how the Group is progressing, including strengths and weaknesses. The report built around a wider context involving the UN Global Compact, the Global Sustainability Goals and key trends behind the transformation affecting the industry, the Group and related stakeholders. Readers can feel being treated seriously as content is reach and comprehensive, prepared in a solid way consistent with the international standards and approach.
Jury also appreciated the efforts of a local capital group growing practice of non-financial reporting on CIS market.
Plzensky Prazdroj – Best sustainability report in the CE & CIS region for 2018
Example of the consequent continuation of the high reporting standards based on international standards and guidelines, presented in a creative, attractive and engaging way benefitting from current communication trends based on new technologies. Easy-to-understand for the reader, the report presents the business model, the impacts of its value chain and how the company plans to manage them in a strategic manner. Content built on story telling – informative, yet of sufficient length. What stands out is the visual side. The report is also accessible to a wider audience – also available for readers with sand-blindness