The ninth edition of the Sofidel Group’s Integrated Report has been prepared according to specific principles and methodologies set out in the most recent standards published in 2016 by the Global Reporting Initiative (GRI Standards - Core option), integrated, as in the previous reporting year, with the guidelines of the International Integrated Reporting Committee (IIRC)15 , better known as the IR framework.
The GRI Standards represent the main global reference standards for Sustainability Reporting, the disclosure of an organisation’s or an enterprise’s sustainability performance. This Report has been prepared in accordance with the principles of balance, comparability, accuracy, timeliness, reliability and clarity as required by the GRI. The guidelines of the “Framework for Integrated Reporting and the Integrated Report” of the Integrated Reporting Committee (IRC) of South Africa are the only reliable benchmark available to date. The IR framework focuses on the organisation’s capacity to create value in the short, medium and long term. In this way it maximises the attention given to:
- conciseness, strategic focus, forward-looking nature and links between information and capital, showing their mutual interdependence;
- the importance of integrated thinking within the organisation, which consists of considering the relationships between the operational units and the functions of an organisation, as well as the capital that it uses or influences.
Aspects such as the description of the company’s business model, the focus on leadership and the centrality of the sustainability context demonstrate the company’s desire to move towards a more integrated and integral reporting model, within which sustainability is increasingly the lever used to rethink and redefine strategy and operating processes, to address change and to respond to the needs and expectations of the market and of society as a whole, with the ultimate objective of raising the level of innovation, competitiveness and profitability. Reference was also made to the SAS (Sustainability Accounting Standards – Pulp & Paper Products) used by listed companies on the American market for the reporting of material sustainability information. In this Report, according to the British convention, commas are used to separate thousands and points to separate decimals.
15. A body created by the International Federation of Accountants (IFAC), the Global Reporting Initiative (GRI) and The Prince's Accounting for Sustainability Project Organism created by the International Federation of Accountants (IFAC), the Global Reporting Initiative (GRI) and the Prince’s Accounting Project for the development of an integrated reporting statement for the economic and financial, environmental and social performance of public and private organisations.