From 2017, as a result of the implementation of an EU directive, selected business entities that employ more than 500 people and have a balance sheet total of over EUR 20 million or net turnover of over EUR 40 million will be required to report so-called non-financial data. According to estimates by the consulting firm Deloitte, this obligation will cover at least 300 entities in Poland.
In the global CFO survey by Deloitte titled “Sustainable Finance: The Risks and Opportunities that (Some) CFOs Are Overlooking”, six out of ten financial directors believe that sustainable development challenges will influence changes in financial reporting. Non-financial verification is gaining increasing importance, serving to build the credibility of companies.
Polish companies should use the new reporting obligation as a business opportunity. Reporting non-financial data according to the GRI G4 guidelines brings benefits not only to the reporting entity but also to the recipients of the report, who can find answers to their pressing questions within it. From the perspective of the reporting organization itself, internal management systems are strengthened, the quality of the monitoring process for the sphere of sustainable development is raised, and the awareness of those involved in the process of reporting social, economic, and environmental aspects is increased.
– Reporting non-financial data and subjecting it to independent verification raises the company’s level of transparency. It thereby increases trust in the company on the part of both external and internal stakeholders – comments Jacek Kuchenbeker, Senior Manager in the Risk Advisory Department at Deloitte.
In November, the Raben Group’s first social report in Poland was published. It was created in accordance with international guidelines for reporting data in the area of sustainable development – Global Reporting Initiative version G4, at the CORE level. The Raben Group’s social report contains many significant indicators and describes the way of conducting business in a sustainable manner.
– Our goal was also to engage the reader, to include them in the process, for example, by prompting reflection on their own work-life balance. The report can be commented on and rated on our website. For every comment, the company will donate 1 PLN to the “First Car Seat” campaign, which promotes the safe transport of children in car seats – comments Marta Szymborska, PR and CSR Manager at the Raben Group.