Wolfsburg, 2006-10-30
New Guidelines by the Global Reporting Initiative
n future, the Volkswagen Group’s sustainability reporting will be increasingly based on the G3 guidelines and the associated industry supplement for the car industry.
Companies’ sustainability reporting is becoming an increasingly important instrument for company assessments by analysts and investors. The new “G3” guidelines from the Global Reporting Initiative (GRI) will support this process. In future, sustainability reporting according to the new guidelines will ensure more quality and clarity and make it easier to compare companies. As well as simplifying reporting on economic, ecological and social issues, G3 also requires more information from the companies.
The Volkswagen Group’s sustainability reporting has been based on the reporting standard since the GRI guidelines were first published in the year 2000. The new GRI guideline was presented at a GRI Sustainability Conference in front of around one thousand participants from 65 different countries in Amsterdam from 4 – 6 October. 120 speakers, including Margot Wallström, Vice-President of the EU Commission, Achim Steiner, Director of the United Nations Environment Programme (UNEP), Al Gore, former Vice-President of the USA, as well as CEOs of multinational companies all contributed to the conference. Podium discussions on various themes also allowed the participants to take an active part in the event.
The new guidelines increasingly require the involvement of the stakeholder in the process of sustainability reporting as well as management-related and quality aspects of sustainability in companies. In addition, even more importance is attached to the quantitative data section with sustainability-related key data. A three-level evaluation system (Level A-C) will enable conformity of the sustainability reporting with the guidelines to be made clearer. An external testament can still be made on a voluntary basis.
In future, the Volkswagen Group will increasingly base its sustainability reporting on the G3 guidelines and the associated industry supplement for the car industry. In the past, the level of compliance of the individual indicators was shown on the basis of the GRI index. But Volkswagen will incorporate other standards and guidelines in its sustainability reporting in order to do justice to the complex requirements of sustainability in future as well. Furthermore, exchanges with the stakeholders, Volkswagen’s challengers and partners as well as a certain degree of individuality will remain important criteria for ensuring balanced and transparent sustainability reporting.
The Volkswagen Group’s sustainability reporting has been based on the reporting standard since the GRI guidelines were first published in the year 2000. The new GRI guideline was presented at a GRI Sustainability Conference in front of around one thousand participants from 65 different countries in Amsterdam from 4 – 6 October. 120 speakers, including Margot Wallström, Vice-President of the EU Commission, Achim Steiner, Director of the United Nations Environment Programme (UNEP), Al Gore, former Vice-President of the USA, as well as CEOs of multinational companies all contributed to the conference. Podium discussions on various themes also allowed the participants to take an active part in the event.
The new guidelines increasingly require the involvement of the stakeholder in the process of sustainability reporting as well as management-related and quality aspects of sustainability in companies. In addition, even more importance is attached to the quantitative data section with sustainability-related key data. A three-level evaluation system (Level A-C) will enable conformity of the sustainability reporting with the guidelines to be made clearer. An external testament can still be made on a voluntary basis.
In future, the Volkswagen Group will increasingly base its sustainability reporting on the G3 guidelines and the associated industry supplement for the car industry. In the past, the level of compliance of the individual indicators was shown on the basis of the GRI index. But Volkswagen will incorporate other standards and guidelines in its sustainability reporting in order to do justice to the complex requirements of sustainability in future as well. Furthermore, exchanges with the stakeholders, Volkswagen’s challengers and partners as well as a certain degree of individuality will remain important criteria for ensuring balanced and transparent sustainability reporting.