CSR reporting assessment

Development and implementation of an evaluation methodology for CSR reports according to GRI Guidelines:

An overview of the 2008 results

University of the AegeanCentre for Environmental Policy

and Strategic Environmental Management

CSR Reporting Forum 2009 – December 8th 2009, Sofitel Athens Airport

GRI Guidelines: The ‘de facto’ framework in CSR reporting

Source: UNEP-FI, 2007

Status of CSR Reporting in Greece in 2008… 20 out of 24 CSR reports were prepared using the GRI Guidelines

… 4 companies sought for external assurance of their reports :

1. ΤΙΤΑΝ Cement (A+)

2. Emporiki Bank (A+)

3. Athens International Airport (B+)

4. Hellenic Public Real-Estate Corporation (C+)

… 2 companies had their reports third-party checked for the application level:

1. Vodafone Hellas

2. Hellenic Petroleum

… 4 companies have used the corresponding GRI sector supplement:

1. S&B Ind. Minerals (Mining and Metals Sector Supplement)

2. Emporiki Bank

3. Piraeus Bank

4. Vodafone Hellas (Telecommunication Sector Specific Indicators )

(Financial Services Sector Supplement)

GRI adopters / total number of CSR reporters included in the 2008 assessment (%)

25%

47%

70%

83%

0%

50%

100%

2005 2006 2007 2008

GRI embeddedness in Greek companies publishing         CSR reports 

Greek Reports

Global Reporting Initiative (GRI) Guidelines

Sustainability Reporting Assessment Methodology

Widely accepted benchmark methodologies

Research design

Benchmark results

Methodology

GRI-G3 Guidelines consist of 119 indicators – topics

A numerical scoring system for each topic was devised

Each topic is allocated between 0 (worst) and 4 (best) points

Results provide ranking among assessed reports

Implementation of proposed method to all 2008 CSR reports publishedby companies operating in Greece

•This methodology assesses only what organizations include in their reports, and not other sources (e.g. questionnaire, websites, press releases etc)

• The methodology assesses only what organizations publish and does not assess their actual performance.

Benchmark scoring system

Scores

Generic statements

No mention

More detailed

Extensive

Full

0

1

2

3

4

Scoring Levels Example – Direct CO2 emissions

No information provided

“Our company monitors CO2 emissions”

“Our company produced 100 tons CO2emissions from direct energy consumption”

“Our central offices and branches in Atticaproduced 70 tons of direct CO2 emissions whileour branches for the rest of Greece produced30 tons…”

“We are responsible for 70 tons of direct CO2emissions within our operations in Attica and 30tons from the rest of our branches. This is a 3%reduction from last year’s total direct emissionsand we plan to further lower these figures by10% within the next 3 years…”

Results: Average score / report section

CSR Report Section ScoreStrategy and Analysis 37%Organizational Profile 67%Report Parameters 52%Governance, Commitments, and Engagement 42%Economic Performance 31%Environmental Performance 27%Social Performance 27%

Labor Practices 36%Human Rights 23%Society 22%Product responsibility 29%

Commonly addressed performance indicators

EconomicDirect economic value generated and distributedDonations to community

EnvironmentalEnergy consumption (electricity, fuels)Greenhouse gas emissionsWater consumptionWaste management and disposal methods

SocialBreakdown of workforceAverage hours of trainingPrograms for skills managementEmployee benefitsSurveys measuring customer satisfaction.

Less commonly disclosed performance indicators

EnvironmentalWeight of hazardous wasteOther significant air emissions by type and weight.Description of significant impacts of activities, products, and services

on biodiversity

EconomicFinancial implications for the organization’s activities due to climatechangeProportion of spending on locally-based suppliers

SocialPerformance indicators pertaining to human rights protectionPrograms/practices aimed at managing the impacts of operations on

local communitiesAnti-corruption policies and procedures.

Benchmark Findings 2008

Leading CSR reporters in Greece

Benchmark results: 10th place

Cosmote

Provided satisfactory coverage of topics referring to:

Organizational profile

Governance, commitments & engagement

Basic report parameters

Overall score: 34%

Benchmark results: 9th place

Vodafone Hellas

Leading practices in stakeholder perceptions identification

Presentation of stakeholder engagement/survey results

Satisfactory disclosure of environmental performanceinformation

Overall score: 35%

S&B Industrial MineralsBetter-than-average disclosures on of topics referring to organizational profile, governance systems and basic report parameters

Benchmark results: 8th place

InteramericanBetter-than-average disclosures on product/ services responsibilitySatisfactory coverage of labor practicesGood coverage of topics referring to organizational profile,governance, commitments & engagement and basic report parameters

AGET HeraclesImportant aspects of social performance coveredGood organizational profile presentationBetter-than-average disclosures on economic performance

Athens International AirportBetter-than-average disclosures on economic and environmental performance Clear commitment to promote CSR from a strategic perspectiveExternal assurance of full report

Overall score: 36%

Benchmark results: 7th place

Hellenic Telecommunications Org. (OTE)Disclosure of fines and non-monetary sanctions for non-compliancewith laws and regulations

Good reporting practice related to customer satisfaction measurement

Good coverage of basic core environmental indicators

National Bank of GreeceImportant aspects of product responsibility disclosed

Good coverage of organizational profile and report parameters topics

Overall score: 37%

Benchmark results: 6th place

Piraeus Bank

Better-than-average scores in labor practices and humanrights sections

Satisfactory coverage of basic core environmentalindicators

Combined Global Compact principles along with GRI-G3in order to report CSR efforts

Overall score: 42%

Benchmark results: 5th place

Motor Oil Hellas

Better-than-average organizational profile description

Very good disclosure of product responsibility indicators

Extensive discussion of labor practices

Overall score: 43%

Benchmark results: 4th place

Emporiki Bank

A comparatively more ‘balanced’ report

Good coverage of core environmental performanceindicators

External assurance of full report

Overall score: 45%

Benchmark results: 3rd place

Hellenic PetroleumExternal assurance of full report

Clear commitment to promote CSR from a strategic perspective

Very good disclosure of product responsibility indicators

Coca-Cola 3EExtensive environmental performance disclosures and better-than-average coverage of social issues

Balanced reports covering a broad range of CSR topics

Overall score: 49%

Benchmark results: 2nd place

Coca-Cola Hellenic

A balanced report

Extensive coverage of environmental performanceindicators

Adequate disclosures on every dimension of socialperformance

Overall score: 54%

Benchmark results: 1st place

TITAN CementVery good coverage of core environmental performanceindicators

Leading stakeholder identification, communication andengagement practices

Broad coverage of social performance indicators

Used multiple CSR initiatives to materially reportperformance

External assurance of full report

Overall score: 56%

Overall results – Ranking of Greek CSR reports 2008

54%49%

43% 42%37% 37% 36% 36% 36% 35% 35% 34% 31% 29% 27% 26% 25% 24%

20%15% 15%

56%

49%45%

0%

40%

80%

ΤΙΤΑΝ

 Ceme

nt 

Coca

 Cola 

Helle

nicCo

ca Co

la 3E

 

Helle

nic Pe

troleu

mEm

porik

i Ban

k

Moto

r Oil H

ellas

Pirae

us Ba

nk

Nat. B

ank o

f Gree

ce

Helle

nic Te

lecom

. Org.

Ath. 

Intern

ation

al Air

port

AGET

 Herac

lesInt

erame

rican

Voda

fone H

ellas

 

S&B I

nd. M

ineral

s Co

smote

Alpha

 Bank

Helle

nic Al

umin.

 Ind.

Corin

th Pi

pewo

rksMy

tiline

osEu

roba

nk EF

G Ha

lkor

Hel. P

ublic 

R. Es

tate C

orp.

Ellak

torNi

reus

Average score:35%

Environmental performance disclosures - Ranking

6%8%12%13%14%

18%20%20%23%23%24%24%25%26%27%28%29%35%37%37%38%

43%

59%66%

0%

40%

80%

Coca 

Cola 

Helle

nicCo

ca Co

la 3E

Helle

nic Pe

troleu

mEm

porik

i Ban

kΤΙΤ

ΑΝ Ce

ment

Pirae

us Ba

nk

Voda

fone H

ellas

Motor

 Oil H

ellas

Ath. In

terna

tiona

l Airp

ort

Helle

nic Al

umin.

 Ind

Eurob

ank E

FG

Helle

nic Te

lecom

. Org

Cosm

oteAlp

ha Ba

nk

Nat. B

ank o

f Gree

ce

Corin

th Pip

ework

s

AGET

 Herac

lesHa

lkor

Mytili

neos

S&B I

nd. M

ineral

s

Intera

meric

anEll

aktor

Hel. P

ublic 

R. Est

ate Co

rpNireu

s

Average score:27%

Social performance disclosures - Ranking

59%

47% 45% 45% 45% 42%37% 36% 34% 31% 31% 30%

24% 24% 23%19%

15% 14%10% 9% 9% 9% 9%

4%

0%

40%

80%

ΤΙΤΑΝ

 Ceme

nt

Helle

nic Pe

troleu

m

Coca

 Cola 

Helle

nicCo

ca Co

la 3E

 

Moto

r Oil H

ellas

Helle

nic Te

lecom

. Org.

Empo

riki B

ank

Pirae

us Ba

nkAG

ET He

racles

Nat. B

ank o

f Gree

ce

Intera

meric

anCo

smote

Ath. 

Intern

ation

al Air

port

S&B I

nd. M

ineral

sAlp

ha Ba

nk

Voda

fone H

ellas

Helle

nic Al

umin.

 Ind.

Corin

th Pi

pewo

rksMy

tiline

osEu

roba

nk EF

G Ha

lkor

Hel. P

ublic 

R. Es

tate C

orp Nireu

sEll

aktor

Average score:27%

Relevant literature:

Skouloudis, A. and K. Evangelinos (2009). “Sustainability Reportingin Greece: Are We There Yet?” Environmental Quality Management19(1): 43-60.

Skouloudis, A. and K. Evangelinos (2009). “Development of anevaluation methodology for triple-bottom-line reports usinginternational standards on reporting”. Environmental Management44(2): 298-311.

Skouloudis, A. and K. Evangelinos (forthcoming). “BenchmarkingGreek sustainability reports according to the Global ReportingInitiative guidelines”. Journal of Cleaner Production.

Contact

Konstantinos Evangelinos: kevag@aegean.gr

Antonis Skouloudis: skouloudis@env.aegean.gr

Stavros Moraitis: envm08041@env.aegean.gr

University of the Aegean

Centre for Environmental Policy and Strategic Environmental Management

www.aegean.gr/environment/eeppd