For more than 20 years, we have been reporting transparently on our progress regarding environmental and social responsibility - and our reporting already covers most of the information required by the Sustainability Accounting Standards Board (SASB). With the new Corporate Responsibility (CR) Report 2020, we continue on our path towards formal SASB reporting.
Every year we publish a non-financial statement in accordance with the CSR Directive Implementation Act (RUG) in the management report as well as a comprehensive CR report. In addition, we issue a declaration of conformity with the German Sustainability Code. Traditionally, our reporting has been based on the standards of the Global Reporting Initiative (GRI). Growing requirements have led us to include further standards in our reporting - these include the Sustainability Development Goals (SDGs) as well as the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
We also regularly take into account additional and specific information requirements from external stakeholders in our reporting - for example, from investors, rating and ranking agencies, and non-governmental organizations (NGOs). This way, we ensure an adequate response to the expectations and requirements of all stakeholder groups.
For the past two years, we have also been working on the SASB standards, which are a useful supplement to the GRI standards and TCFD recommendations. This means that we no longer focus solely on the impact of our business activities on society and the environment. Instead, we are broadening our view to include sustainability factors that influence our business activities and our financial position. In order to further increase transparency for our stakeholders, we are now also reporting SASB criteria for the first time in the CR Report 2020.