1 00:00:04,589 --> 00:00:13,759 Welcome to the Transparency Benchmark. 2 00:00:13,759 --> 00:00:17,920 The Kick-off of the Transparency Benchmark 2023. 3 00:00:17,920 --> 00:00:20,650 So nice of you to be here. 4 00:00:20,650 --> 00:00:26,380 I'm Fiona, and I'm delighted to be able to attend this edition, just like last year 5 00:00:26,380 --> 00:00:31,480 To share with you the latest developments in the field of transparent CSR reporting 6 00:00:31,480 --> 00:00:35,239 And what this last year’s edition will entail. 7 00:00:35,239 --> 00:00:36,980 In this form, as we know it now. 8 00:00:36,980 --> 00:00:40,010 But first: why are we here together? 9 00:00:40,010 --> 00:00:44,850 The government asks companies to be transparent about their policies and activities 10 00:00:44,850 --> 00:00:47,579 Corporate social responsibility policies and activities. 11 00:00:47,579 --> 00:00:53,140 The Transparency Benchmark charts how transparent Dutch companies are 12 00:00:53,140 --> 00:00:54,309 about this. 13 00:00:54,309 --> 00:01:01,340 And that way, stakeholders, consumers, shareholders and other stakeholders can 14 00:01:01,340 --> 00:01:06,360 form an idea of the CSR performance and thus make better informed decisions about how they should 15 00:01:06,360 --> 00:01:08,979 Or want to deal with a company. 16 00:01:08,979 --> 00:01:11,509 And we're in an odd year. 17 00:01:11,509 --> 00:01:18,479 That means the permanent research group of, in short, the 500 largest companies 18 00:01:18,479 --> 00:01:24,450 in the Netherlands are being investigated on their qualitative and quantitative development 19 00:01:24,450 --> 00:01:25,860 of CSR reporting. 20 00:01:25,860 --> 00:01:31,750 All these 500 organizations have also received an invitation to complete a self -assessment 21 00:01:31,750 --> 00:01:32,750 22 00:01:32,750 --> 00:01:36,939 All parties are assessed, but the self-assessment also gives you the chance to get 23 00:01:36,939 --> 00:01:42,219 additional information and insight on your reporting as a whole. 24 00:01:42,219 --> 00:01:45,509 This is heartily needed, and not without reason. 25 00:01:45,509 --> 00:01:50,820 Because the European legislation on this, the CSRD, it will of course come into force soon. 26 00:01:50,820 --> 00:01:55,120 And thus it is time to take a deep dive in what this means 27 00:01:55,120 --> 00:01:59,920 And what to look out for with CSR reporting and double materiality. 28 00:01:59,920 --> 00:02:04,250 What major important changes are taking place? 29 00:02:04,250 --> 00:02:07,250 And what support can you expect from government? 30 00:02:07,250 --> 00:02:12,000 We are going to talk about it with experts, and in the second part of our program you can also 31 00:02:12,000 --> 00:02:14,610 ask them questions through the chat. 32 00:02:14,610 --> 00:02:19,880 The Transparency Benchmark is commissioned on behalf of the Ministry of Economic Affairs and 33 00:02:19,880 --> 00:02:21,400 Climate Policy 34 00:02:21,400 --> 00:02:27,190 And that is why we welcome today, management-member of the Directorate of Business Climate of the Ministry EA: Ilknur Dönmez. 35 00:02:27,190 --> 00:02:28,220 Hi Ilknur . 36 00:02:28,220 --> 00:02:29,250 Hi Fiona. 37 00:02:29,250 --> 00:02:31,140 Glad you're here. 38 00:02:31,140 --> 00:02:33,170 Nice to be here today. 39 00:02:33,170 --> 00:02:36,200 You are here to do the opening speech on behalf of EACP. 40 00:02:36,200 --> 00:02:41,010 But before this job, you also worked in the private sector for quite some time. 41 00:02:41,010 --> 00:02:43,660 How do you view CSR reporting from that perspective? 42 00:02:43,660 --> 00:02:48,220 I think it's great that this is happening now. 43 00:02:48,220 --> 00:02:51,819 I've been working for the government for about 16 years now. 44 00:02:51,819 --> 00:02:55,349 And before that I spent 10 years in the corporate sector 45 00:02:55,349 --> 00:02:59,250 And at that time I was working for an ICT consultancy company. 46 00:02:59,250 --> 00:03:01,920 We mainly worked for banks and insurance companies. 47 00:03:01,920 --> 00:03:06,720 And yet on the level for banks, maybe CSR played a role, but because we were focused 48 00:03:06,720 --> 00:03:09,290 On the IT side as a company, for us CSR didn’t play a role at all. 49 00:03:09,290 --> 00:03:13,659 You can't imagine that now, because you think – it is valid for every company. 50 00:03:13,659 --> 00:03:16,770 But at the time that wasn't an issue it was more about 51 00:03:16,770 --> 00:03:19,030 What was in the newspapers which was, in particular child labor. 52 00:03:19,030 --> 00:03:22,300 Because everyone was talking about that. 53 00:03:22,300 --> 00:03:24,170 Yes So, I think there has actually been a really nice 54 00:03:24,170 --> 00:03:27,360 development in recent years. 55 00:03:27,360 --> 00:03:28,990 And that it is becoming increasingly important. 56 00:03:28,990 --> 00:03:30,720 There was no mention of sustainability at all. 57 00:03:30,720 --> 00:03:33,590 No, I think it was also called 'environment' back then. 58 00:03:33,590 --> 00:03:36,550 Yes exactly, everything also got new terms. 59 00:03:36,550 --> 00:03:39,530 Good, good to hear. 60 00:03:39,530 --> 00:03:41,099 I now give the floor to you. 61 00:03:41,099 --> 00:03:42,099 Yes thank you. 62 00:03:42,099 --> 00:03:44,790 Also on my behalf of and on behalf of the Ministry of Economic Affairs and Climate Policy, I would like to welcome everyone 63 00:03:44,790 --> 00:03:47,350 As well. 64 00:03:47,350 --> 00:03:51,220 It is, as you also said, an extra special moment. 65 00:03:51,220 --> 00:03:57,120 Today is not only the start of this year's Transparency Benchmark, 66 00:03:57,120 --> 00:04:00,379 but it's also the last one that will be held in this form. 67 00:04:00,379 --> 00:04:05,750 And also the last time the corresponding Crystal Prize is awarded in this way. 68 00:04:05,750 --> 00:04:12,540 That will be in November, when we announce the results and the winner. 69 00:04:12,540 --> 00:04:19,940 The Transparency Benchmark exists since 2004, so almost 20 years indeed. 70 00:04:19,940 --> 00:04:24,780 It has contributed greatly at putting sustainability reporting on the agenda 71 00:04:24,780 --> 00:04:26,320 for companies. 72 00:04:26,320 --> 00:04:32,070 And it is also good to see that the number of active participants is still growing. 73 00:04:32,070 --> 00:04:40,280 Transparency on how companies do corporate social responsibility is as relevant as ever. 74 00:04:40,280 --> 00:04:42,840 And perhaps it is becoming more and more relevant. 75 00:04:42,840 --> 00:04:48,890 As the Netherlands, we have great ambitions in the field of climate, sustainability and energy. 76 00:04:48,890 --> 00:04:54,510 And the mission of the Ministry of Economic Affairs and Climate Policy is also striving for 77 00:04:54,510 --> 00:04:56,070 sustainable economic growth. 78 00:04:56,070 --> 00:05:01,030 Personally, I really like the term I once heard from a Fleming. 79 00:05:01,030 --> 00:05:02,850 Which was, a 'sustainable economy'. 80 00:05:02,850 --> 00:05:08,170 An economy that is maintainable not only for us, 81 00:05:08,170 --> 00:05:09,550 but also for our children and grandchildren 82 00:05:09,550 --> 00:05:14,009 And that's where those economic aspects come into play, those are important. 83 00:05:14,009 --> 00:05:19,760 There is increasing attention for the responsible treatment of people and the environment. 84 00:05:19,760 --> 00:05:26,460 And to realize these ambitions we also need your help as entrepreneurs. 85 00:05:26,460 --> 00:05:33,229 For in these transitions you deliver a important contribution to a more green and 86 00:05:33,229 --> 00:05:35,030 circular economy in the Netherlands. 87 00:05:35,030 --> 00:05:41,570 And it is also becoming increasingly important to take accountability for this. 88 00:05:41,570 --> 00:05:43,990 Increasingly important for your customers. 89 00:05:43,990 --> 00:05:46,840 Increasingly important for society as a whole. 90 00:05:46,840 --> 00:05:53,420 Anyone who in recent weeks, has kept an eye on the newspapers, 91 00:05:53,420 --> 00:05:57,550 has seen the number of articles about this topic explode. 92 00:05:57,550 --> 00:06:05,510 It demands a lot of attention and it also determines the ' license to operate ' of 93 00:06:05,510 --> 00:06:07,539 our companies. 94 00:06:07,539 --> 00:06:14,280 With that, the relevance of reporting on non-financial topics is also increasing. 95 00:06:14,280 --> 00:06:19,849 For example, as you also mentioned, with the arrival of European regulations – the CSRD: 96 00:06:19,849 --> 00:06:22,230 the Corporate Sustainability Reporting Directive. 97 00:06:22,230 --> 00:06:23,900 I always have to peek for that one… 98 00:06:23,900 --> 00:06:29,389 Yes, it's quite a mouthful And this objective, these regulations, have 99 00:06:29,389 --> 00:06:31,900 a similar objective as our Transparency Benchmark. 100 00:06:31,900 --> 00:06:34,890 As said before: this edition will be the last one in this form. 101 00:06:34,890 --> 00:06:39,990 We have decided, in consultation with all stakeholders, to use the Transparency Benchmark and the 102 00:06:39,990 --> 00:06:43,250 Crystal price, at least in this form, too to end. 103 00:06:43,250 --> 00:06:49,720 We have already stated that the Transparency Benchmark measures how transparent 104 00:06:49,720 --> 00:06:55,599 the Dutch companies are with regards to social reporting 105 00:06:55,599 --> 00:07:01,240 This not only gives us insight as government, you just mentioned the customers, but 106 00:07:01,240 --> 00:07:03,940 also most importantly, yourself. 107 00:07:03,940 --> 00:07:05,650 So your company: where do you stand? 108 00:07:05,650 --> 00:07:08,030 What progress have you made? 109 00:07:08,030 --> 00:07:14,070 It can also challenge you to be transparent about how sustainability is involved in the 110 00:07:14,070 --> 00:07:18,599 business strategy, what the successes are, what challenges are involved. 111 00:07:18,599 --> 00:07:24,009 I believe that with the next speakers there there will be more room to come back to that. 112 00:07:24,009 --> 00:07:29,360 And companies that do well in these areas do have - in my opinion - too 113 00:07:29,360 --> 00:07:35,569 the best long-term prospect to be successful and to be profitable in that new sustainable 114 00:07:35,569 --> 00:07:37,300 economy. 115 00:07:37,300 --> 00:07:43,860 An additional advantage is that our Transparency Benchmark is a very good preparation for the CSRD 116 00:07:43,860 --> 00:07:49,050 – which will come into force in phases from 2024. 117 00:07:49,050 --> 00:07:54,350 This year's closing event will therefore also focus on the CSRD. 118 00:07:54,350 --> 00:07:59,040 Also, with the results of the Transparency Benchmark we will award the Crystal Prize 119 00:07:59,040 --> 00:08:00,040 120 00:08:00,040 --> 00:08:07,030 This is a price, as mentioned earlier, of the Ministry of Economic Affairs and Climate Policy 121 00:08:07,030 --> 00:08:09,840 and the Dutch Association of Accountants. 122 00:08:09,840 --> 00:08:14,230 This award is awarded to the company with the best CSR reporting. 123 00:08:14,230 --> 00:08:20,090 The Crystal Prize Jury, led by Monika Milz, selects the winner based on the results 124 00:08:20,090 --> 00:08:21,710 of the Transparency Benchmark. 125 00:08:21,710 --> 00:08:25,629 In any case, I am extremely looking forward to it. 126 00:08:25,629 --> 00:08:30,090 I hope to see each other again November 28 for this award ceremony and event. 127 00:08:30,090 --> 00:08:32,890 I am very much looking forward to that. 128 00:08:32,890 --> 00:08:33,890 Thank you, Ilknur . 129 00:08:33,890 --> 00:08:37,950 I am also very curious about a future interpretation of this event. 130 00:08:37,950 --> 00:08:44,420 We have a question for the viewer, to see whether or not it is the first time 131 00:08:44,420 --> 00:08:46,670 that people participate in the Transparency Benchmark. 132 00:08:46,670 --> 00:08:52,350 If all goes well, a pop-up will now appear and everyone should be able to answer the question. 133 00:08:52,350 --> 00:08:57,810 We present you the statement: this is the first year that my company participates in the Transparency Benchmark. 134 00:08:57,810 --> 00:09:03,290 Of course, this is also the last chance, so I would say, grab this chance. 135 00:09:03,290 --> 00:09:06,110 The score is still changing. 136 00:09:06,110 --> 00:09:08,110 So I'll wait a little longer. 137 00:09:08,110 --> 00:09:15,020 I think we have all answers. 15% states they are participating for the first time. 138 00:09:15,020 --> 00:09:20,170 85% have already participated one or more times. 139 00:09:20,170 --> 00:09:27,010 Well, I think it's really nice to see that there are 15% new participants. 140 00:09:27,010 --> 00:09:28,010 Certainly. 141 00:09:28,010 --> 00:09:31,620 Also very happy with the 85% that it has participated before. 142 00:09:31,620 --> 00:09:32,620 Very happy. 143 00:09:32,620 --> 00:09:36,010 But it also indicates indeed that new companies are joining in. 144 00:09:36,010 --> 00:09:43,420 So it’s not just that you’re being looked at, but that you’re actively participating in it 145 00:09:43,420 --> 00:09:46,930 that is a very good signal for us, the involvement of companies. 146 00:09:46,930 --> 00:09:47,930 Absolutely. 147 00:09:47,930 --> 00:09:48,930 Thank you, Ilknur Dönmez. 148 00:09:48,930 --> 00:09:49,930 Thank you. 149 00:09:49,930 --> 00:09:55,300 And then we move on to the next poll question, because I'm also curious about all those people 150 00:09:55,300 --> 00:09:57,279 who also just answered the first question. 151 00:09:57,279 --> 00:10:01,310 In which sector is your company active? 152 00:10:01,310 --> 00:10:04,080 Then choose whatever is most applicable. 153 00:10:04,080 --> 00:10:10,080 Is that health care, sport and well-being, trade and services, ICT, environment and 154 00:10:10,080 --> 00:10:11,080 agricultural? 155 00:10:11,080 --> 00:10:15,870 There are many answers, I won't read them all out loud. 156 00:10:15,870 --> 00:10:21,380 I see quite a few people from trade and services. 157 00:10:21,380 --> 00:10:25,180 Also quite a bit from ‘other’ sectors. 158 00:10:25,180 --> 00:10:28,089 So we seem to have forgotten some answers. 159 00:10:28,089 --> 00:10:32,740 Technology, production and construction is also being represented. 160 00:10:32,740 --> 00:10:34,910 Good, very nice to see. 161 00:10:34,910 --> 00:10:39,470 So a very diverse audience from all kinds branches. 162 00:10:39,470 --> 00:10:43,120 Thank you for your answers. 163 00:10:43,120 --> 00:10:47,720 Now let's move on to the next topic: trends and developments. 164 00:10:47,720 --> 00:11:07,250 The Transparency Benchmark started in 2004 – that was a whole different time. 165 00:11:07,250 --> 00:11:11,010 Britney Spears was still on the charts, the first season of tv show: ‘Farmer seeks Wife’ 166 00:11:11,010 --> 00:11:15,990 and it was the year of the introduction of same-sex marriage – if we look at social 167 00:11:15,990 --> 00:11:17,330 developments. 168 00:11:17,330 --> 00:11:22,800 And it was the year that the Transparency Benchmark started. 169 00:11:22,800 --> 00:11:27,460 We're going to talk about that, about the development of CSR movements. 170 00:11:27,460 --> 00:11:33,620 And we do that together with the chairman of the Panel of Experts: Giuseppe van der 171 00:11:33,620 --> 00:11:34,620 Helm. 172 00:11:34,620 --> 00:11:35,620 Hi Giuseppe Hi Fiona 173 00:11:35,620 --> 00:11:36,620 Glad you're here. 174 00:11:36,620 --> 00:11:40,769 Let's start first: what is the role of the Panel of Experts? 175 00:11:40,769 --> 00:11:43,580 Yes, because it hadn't been mentioned yet – that panel. 176 00:11:43,580 --> 00:11:49,930 EY gets to work with all the assessments filled in by participants, and a ranking comes out of that. 177 00:11:49,930 --> 00:11:50,930 A Top 20.. 178 00:11:50,930 --> 00:11:51,930 Of those 500.. 179 00:11:51,930 --> 00:11:57,779 Out of the 500 participating companies, comes a Top 20, those 20 companies are presented to the Panel of Experts. 180 00:11:57,779 --> 00:12:02,430 A group of, that changes quite often, More or less 10 people of different 181 00:12:02,430 --> 00:12:03,529 backgrounds. 182 00:12:03,529 --> 00:12:07,449 Important is diversity - some come from civil society, some 183 00:12:07,449 --> 00:12:10,680 from companies, trade associations, financial sector, etc. 184 00:12:10,680 --> 00:12:12,990 And then we're going to look at that Top 20. 185 00:12:12,990 --> 00:12:15,639 Then we say: all nice and well those assessed scores, but is that correct? 186 00:12:15,639 --> 00:12:16,639 Do we recognize that? 187 00:12:16,639 --> 00:12:19,290 Is there something that isn't quite right. 188 00:12:19,290 --> 00:12:21,260 Should some get some more points and others less so? 189 00:12:21,260 --> 00:12:22,660 That is what we are going to work on. 190 00:12:22,660 --> 00:12:27,370 And after all that work, we re-evaluate the top 20, 191 00:12:27,370 --> 00:12:29,040 could be that places have shifted 192 00:12:29,040 --> 00:12:32,340 193 00:12:32,340 --> 00:12:37,269 The Top 3 will then eventually go to the Jury, who have been mentioned allready. 194 00:12:37,269 --> 00:12:40,040 They ultimately decide who the winner should be 195 00:12:40,040 --> 00:12:41,730 So they have different criteria they focus on. 196 00:12:41,730 --> 00:12:46,350 So it doesn’t mean that if you finish as number 5, you can’t win. 197 00:12:46,350 --> 00:12:48,710 Exactly, maybe the number five selected by EY 198 00:12:48,710 --> 00:12:52,550 May very well get into the Top 3, and then a Judge 199 00:12:52,550 --> 00:12:54,930 Can after all decide: no that's number 1. 200 00:12:54,930 --> 00:12:57,160 And that's not an imaginary example, this really happened. 201 00:12:57,160 --> 00:13:01,680 Okay, we'll get into that in a minute – on which specific things you focus. 202 00:13:01,680 --> 00:13:03,670 But first let's go back in time. 203 00:13:03,670 --> 00:13:05,350 I just mentioned it: 2004. 204 00:13:05,350 --> 00:13:07,449 What was the environment like back then? 205 00:13:07,449 --> 00:13:10,120 Why was the Transparency Benchmark established in the first place? 206 00:13:10,120 --> 00:13:14,180 Well first of all I want to clarify that I haven't been involved from 2004. 207 00:13:14,180 --> 00:13:17,140 I've been on this panel of Experts for about ten years now 208 00:13:17,140 --> 00:13:22,360 But at that time, looking back, here was increasing dissatisfaction. 209 00:13:22,360 --> 00:13:24,110 People asked: should a company only care about finances? 210 00:13:24,110 --> 00:13:25,240 Is that all that matters? 211 00:13:25,240 --> 00:13:27,720 That is a very one-dimensional view. 212 00:13:27,720 --> 00:13:33,340 It was also a time where a number of companies started reporting on environment, quality, health 213 00:13:33,340 --> 00:13:36,720 – those reports were established then. 214 00:13:36,720 --> 00:13:41,709 Back in those days, people still thought: how can we indicate what we are doing in terms of 215 00:13:41,709 --> 00:13:42,709 corporate social responsibility? 216 00:13:42,709 --> 00:13:43,709 On sustainability? 217 00:13:43,709 --> 00:13:44,930 Long term thinking? 218 00:13:44,930 --> 00:13:46,839 Of course that could be: the 'do no harm '. 219 00:13:46,839 --> 00:13:50,110 Yeah guys, what about the CO2 emissions, can't we reduce it a bit? 220 00:13:50,110 --> 00:13:52,310 Companies indicated back then: a little less every year. 221 00:13:52,310 --> 00:13:54,430 Back then, in 2004? 222 00:13:54,430 --> 00:13:56,820 Well, that came up a bit then, of course. 223 00:13:56,820 --> 00:13:58,500 What should we report on? 224 00:13:58,500 --> 00:14:01,750 The climate debate is already over. 225 00:14:01,750 --> 00:14:05,730 But it could also be: the 'do good ' story. 226 00:14:05,730 --> 00:14:09,399 What can we do in our chain, for example, by paying a living wage? 227 00:14:09,399 --> 00:14:13,920 And then gradually the story – it was mentioned as well – was complemented with child labour, 228 00:14:13,920 --> 00:14:17,810 cluster investments, incidents. 229 00:14:17,810 --> 00:14:21,389 There was broader thinking: what are we on earth for? 230 00:14:21,389 --> 00:14:24,329 Again, it coincides with the discussion around concepts like 'broad prosperity' 231 00:14:24,329 --> 00:14:26,800 Do we only become happy from economic gain? 232 00:14:26,800 --> 00:14:28,180 Or are there other factors? 233 00:14:28,180 --> 00:14:31,930 What is the role of a company in society? 234 00:14:31,930 --> 00:14:34,290 And entrepreneurs naturally like to think long term 235 00:14:34,290 --> 00:14:39,250 Then parties such as GRI also emerged, who said: we will help you to come up with a format 236 00:14:39,250 --> 00:14:42,089 for a good sustainability report, at least standards 237 00:14:42,089 --> 00:14:43,089 And those standards gradually integrated in a report. 238 00:14:43,089 --> 00:14:44,850 Because they said: where should be put such a report? 239 00:14:44,850 --> 00:14:46,149 Let's put them together. 240 00:14:46,149 --> 00:14:51,180 And to help companies in that early period - of course there was a lot unclear. 241 00:14:51,180 --> 00:14:52,500 How do we do that? 242 00:14:52,500 --> 00:14:54,529 Now what's the best way to do that? 243 00:14:54,529 --> 00:14:56,139 Then a few things always help very well. 244 00:14:56,139 --> 00:14:58,040 Comparisons with each other. 245 00:14:58,040 --> 00:15:01,560 Share your good practices – and companies looked around, of course. 246 00:15:01,560 --> 00:15:03,279 And the government also jumped into that gap. 247 00:15:03,279 --> 00:15:08,860 So that’s when they thought: Let's make a benchmark to see – what are those criteria 248 00:15:08,860 --> 00:15:09,860 In terms of transparency? 249 00:15:09,860 --> 00:15:11,980 Yes, exactly Because sustainability was something we did not yet agree on, 250 00:15:11,980 --> 00:15:14,050 but transparency was something everybody could agree on. 251 00:15:14,050 --> 00:15:15,050 Friend and foe. 252 00:15:15,050 --> 00:15:17,220 And think also of investors, who also found that format very relevant 253 00:15:17,220 --> 00:15:20,269 And thus, there emerged formats for transparency. 254 00:15:20,269 --> 00:15:22,220 Companies started comparing that. 255 00:15:22,220 --> 00:15:25,090 And such a benchmark, ultimately, leads to two things: 256 00:15:25,090 --> 00:15:29,970 It sets criteria: this is it, so if you want get started - take a look at these criteria. 257 00:15:29,970 --> 00:15:34,839 And what it does, secondly, is that it has a certain effect on companies. 258 00:15:34,839 --> 00:15:39,420 That hopefully no self-respecting one entrepreneur or executive will accept that they 259 00:15:39,420 --> 00:15:41,050 End up outside of the Top 10. 260 00:15:41,050 --> 00:15:42,889 Exactly, we all want to win. 261 00:15:42,889 --> 00:15:46,420 And if you look at how it was back then, and how it is now. 262 00:15:46,420 --> 00:15:47,959 How did that progress then? 263 00:15:47,959 --> 00:15:50,600 Have more and more companies started paying attention to transparency? 264 00:15:50,600 --> 00:15:53,790 Well we’ve looked up some statistics. 265 00:15:53,790 --> 00:15:54,860 Just a few short facts, 266 00:15:54,860 --> 00:15:55,860 Significant numbers. 267 00:15:55,860 --> 00:16:00,110 Since that time, the number of companies actively participating in the top 500 have doubled 268 00:16:00,110 --> 00:16:01,860 So that's very positive. 269 00:16:01,860 --> 00:16:03,120 Companies also see its added value. 270 00:16:03,120 --> 00:16:06,250 If you look at sectors, we asked the audience a few seconds ago about this, 271 00:16:06,250 --> 00:16:11,740 Then you actually see that the pharmaceutical sector is always dangling at the bottom. 272 00:16:11,740 --> 00:16:13,670 Not a great sign, in my opinion. 273 00:16:13,670 --> 00:16:17,990 But what is fun, is that the very often criticized sector of oil and gas in the 274 00:16:17,990 --> 00:16:22,209 last 5-6 years has gone from ranking place 9 to 3rd or 4th place. 275 00:16:22,209 --> 00:16:24,170 There you see something very positive. 276 00:16:24,170 --> 00:16:28,010 Yes, of course they can do much more make a difference, I imagine. 277 00:16:28,010 --> 00:16:31,529 And for the pharmaceutical sector, there are of course a lot of complicated trade-offs. 278 00:16:31,529 --> 00:16:33,600 Of course everyone wants to get better. 279 00:16:33,600 --> 00:16:37,380 So do you include or consider other aspects if your health is not doing well? 280 00:16:37,380 --> 00:16:38,380 Apparently not. 281 00:16:38,380 --> 00:16:41,639 Surely fewer of those big parties are based in the Netherlands, 282 00:16:41,639 --> 00:16:43,649 Which makes them less approachable. 283 00:16:43,649 --> 00:16:45,690 But that’s something we can take to heart 284 00:16:45,690 --> 00:16:48,730 How can we engage with these parties as well? 285 00:16:48,730 --> 00:16:55,230 With the Panel we’ve had reoccurring discussions 286 00:16:55,230 --> 00:16:58,399 About the relationship between transparency and sustainability. 287 00:16:58,399 --> 00:17:02,060 Because, of course, it is possible that your operations are not sustainable at all… 288 00:17:02,060 --> 00:17:03,060 .. but you can transparently 289 00:17:03,060 --> 00:17:04,060 Report about not being sustainable. 290 00:17:04,060 --> 00:17:06,880 We as the Panel of Experts have struggled with that many times. 291 00:17:06,880 --> 00:17:09,790 And then we usually move towards sustainable operations anyway. 292 00:17:09,790 --> 00:17:11,730 You could say: I don't do stakeholder dialogues. 293 00:17:11,730 --> 00:17:14,919 But then we didn't think that was so positive after all. 294 00:17:14,919 --> 00:17:18,740 That is something, also with the new legislation, We will get rid of.. 295 00:17:18,740 --> 00:17:20,910 Then obviously, you have to report about also on sustainability elements. 296 00:17:20,910 --> 00:17:26,819 That way we can really see what's actually going on happens, and what the line is. 297 00:17:26,819 --> 00:17:30,520 Can you tell us what the panel of experts will be focusing on this year During the evaluation? 298 00:17:30,520 --> 00:17:31,520 Of course everyone wants to know that. 299 00:17:31,520 --> 00:17:33,919 It has already been said a little bit. 300 00:17:33,919 --> 00:17:36,410 The new legislation - there are two coming. 301 00:17:36,410 --> 00:17:40,020 The CSRD has already been mentioned, but there will also be legislation in the field of due diligence [the CSDDD] 302 00:17:40,020 --> 00:17:41,020 303 00:17:41,020 --> 00:17:43,240 How do you properly map out your chain? 304 00:17:43,240 --> 00:17:45,200 How will you prevent running into risks there? 305 00:17:45,200 --> 00:17:47,789 There we will see which companies are already ' aligned ' With these questions 306 00:17:47,789 --> 00:17:56,740 What you'll see: the questions that were raised in 2004 - how are we going to do all that 307 00:17:56,740 --> 00:17:59,960 that reporting on socially responsible issues – that will be asked again now. 308 00:17:59,960 --> 00:18:02,010 The new legislation has not solved that yet. 309 00:18:02,010 --> 00:18:04,190 The new legislation also raises questions 310 00:18:04,190 --> 00:18:05,270 How can I do it right then? 311 00:18:05,270 --> 00:18:06,350 What is the level playing field? 312 00:18:06,350 --> 00:18:08,419 What can be expected of us as a company? 313 00:18:08,419 --> 00:18:11,590 Then again it is good to look at each other. 314 00:18:11,590 --> 00:18:13,470 What are the good practices? 315 00:18:13,470 --> 00:18:18,520 Maybe also look at some kind of criteria together and compare things with each other. 316 00:18:18,520 --> 00:18:22,900 Exactly, do you also look at earlier reports from companies? 317 00:18:22,900 --> 00:18:24,640 So also looking at the development of reports per company throughout the years? 318 00:18:24,640 --> 00:18:27,190 Look, there's limited time. 319 00:18:27,190 --> 00:18:30,230 We will include it whenever relevant. 320 00:18:30,230 --> 00:18:32,270 But you've also heard it: there are 15% new companies. 321 00:18:32,270 --> 00:18:34,070 We will certainly not disadvantage those. 322 00:18:34,070 --> 00:18:38,789 Above all, we look towards the future. 323 00:18:38,789 --> 00:18:39,990 This is not the end of the story. 324 00:18:39,990 --> 00:18:41,380 It's the end of the Crystal Prize. 325 00:18:41,380 --> 00:18:46,030 But the issues raised certainly don't get any less relevant, for companies. 326 00:18:46,030 --> 00:18:49,520 It's good to keep comparing them to keep in touch with each other. 327 00:18:49,520 --> 00:18:51,559 Certainly also with your stakeholders, of course. 328 00:18:51,559 --> 00:18:54,250 And from a long-term perspective. 329 00:18:54,250 --> 00:19:00,440 And then something like: facilitating from the government has worked well so far. 330 00:19:00,440 --> 00:19:04,929 And I think there is also a need among companies to get the right form in the future 331 00:19:04,929 --> 00:19:05,929 332 00:19:05,929 --> 00:19:08,970 Yes, and also to get support from the government and of moving more 333 00:19:08,970 --> 00:19:11,809 towards the European directives for this. 334 00:19:11,809 --> 00:19:14,710 And the due diligence law will also be introduced soon. 335 00:19:14,710 --> 00:19:18,020 Do you think this will create a more level playing field? 336 00:19:18,020 --> 00:19:19,270 Yes, I think so. 337 00:19:19,270 --> 00:19:20,559 But you have to move towards a new equilibrium. 338 00:19:20,559 --> 00:19:22,220 And that does not happen automatically. 339 00:19:22,220 --> 00:19:25,620 For every new equilibrium you have to go through first a bit of chaos often. 340 00:19:25,620 --> 00:19:29,890 And in that chaos, it's nice if there are parties, be it the government or a branch association, 341 00:19:29,890 --> 00:19:32,360 that try to bring some guidance into this. 342 00:19:32,360 --> 00:19:34,600 As long as you know in advance: I want to go there. 343 00:19:34,600 --> 00:19:35,799 We don't quite know how yet. 344 00:19:35,799 --> 00:19:38,940 For that process it is specifically nice Knowing that there are instruments like the Transparency Benchmark. 345 00:19:38,940 --> 00:19:39,940 What should we pay attention to? 346 00:19:39,940 --> 00:19:40,940 So what should we measure? 347 00:19:40,940 --> 00:19:41,940 How do we actually do that? 348 00:19:41,940 --> 00:19:43,250 How far do we go in that supply chain? 349 00:19:43,250 --> 00:19:46,670 Those are all questions for which there are guidelines, but you never exactly know how 350 00:19:46,670 --> 00:19:47,670 you have to do that. 351 00:19:47,670 --> 00:19:52,270 Again for those moments it’s nice to have these kinds of instruments like the Transparency Benchmark. 352 00:19:52,270 --> 00:19:56,440 Following on from this: we need to wrap up this conversation. 353 00:19:56,440 --> 00:19:58,919 But we do have a poll question for the viewer. 354 00:19:58,919 --> 00:20:03,059 And we are curious, how you prioritize The different CSR themes. 355 00:20:03,059 --> 00:20:07,550 So if all goes well you should get another pop-up on the screen. 356 00:20:07,550 --> 00:20:09,350 How do you determine the prioritization? 357 00:20:09,350 --> 00:20:12,720 Is that based on the Sustainable Development Goals, the SDGs ? 358 00:20:12,720 --> 00:20:14,560 Is that in the interest of the customers? 359 00:20:14,560 --> 00:20:18,770 Is that the difference or the impact you can do with your business? 360 00:20:18,770 --> 00:20:23,559 Is it about social attention – what topics are mostly covered by the media? 361 00:20:23,559 --> 00:20:26,320 Or do costs play the biggest role? 362 00:20:26,320 --> 00:20:30,250 I'll take a look at the answers in the meantime 363 00:20:30,250 --> 00:20:31,250 364 00:20:31,250 --> 00:20:33,610 I can't read it, but I see that one bar is already very high. 365 00:20:33,610 --> 00:20:35,660 And that costs – money is not an issue at all according to you all. 366 00:20:35,660 --> 00:20:37,830 No, we kind of expected that too. 367 00:20:37,830 --> 00:20:42,640 That that one specifically would have little enthusiasm. 368 00:20:42,640 --> 00:20:48,320 At least there is a high standout from the difference/impact we can make. 369 00:20:48,320 --> 00:20:52,940 Those are the letters you couldn't read. 370 00:20:52,940 --> 00:20:53,940 What do you think of that? 371 00:20:53,940 --> 00:20:55,050 That that answers is answered the most? 372 00:20:55,050 --> 00:20:58,620 That also sounds very businesslike, but the question is of course: how do you measure those differences/that 373 00:20:58,620 --> 00:20:59,620 effect? 374 00:20:59,620 --> 00:21:01,730 That is also very difficult sometimes, to measure that financially. 375 00:21:01,730 --> 00:21:07,040 I can also imagine that including your stakeholders is determining the 376 00:21:07,040 --> 00:21:08,760 topics where you find that impact is important. 377 00:21:08,760 --> 00:21:12,150 And many companies do that by the way, which is also very relevant. 378 00:21:12,150 --> 00:21:17,480 Yes, and that raises the question- you can make a big difference, but is that also the most impactful 379 00:21:17,480 --> 00:21:18,480 difference? 380 00:21:18,480 --> 00:21:19,700 Yes, those two things will always remain relevant. 381 00:21:19,700 --> 00:21:21,220 One, where can I make an impact? 382 00:21:21,220 --> 00:21:24,750 And am I also making impact on the good things? 383 00:21:24,750 --> 00:21:26,919 Has everyone been able to see the results? 384 00:21:26,919 --> 00:21:28,220 Nice to see. 385 00:21:28,220 --> 00:21:31,650 Social attention also plays a role, there is a lot of pressure there, and also 386 00:21:31,650 --> 00:21:36,289 the interests of the customer and the SDGs are taken into account. 387 00:21:36,289 --> 00:21:38,850 Well thank you very much for giving your answers. 388 00:21:38,850 --> 00:21:42,090 I am also very curious about how our next guests would answer this question 389 00:21:42,090 --> 00:21:46,720 But first of all thank you very much, Giuseppe van der Helm. 390 00:21:46,720 --> 00:21:54,480 Well, now we all have an idea what kind of choices other companies make regarding this. 391 00:21:54,480 --> 00:21:59,690 Experiences from the business side, from that perspective, of course, should not be missed. 392 00:21:59,690 --> 00:22:19,430 And thus we're going to talk to our next guests from ABN AMRO. 393 00:22:19,430 --> 00:22:23,330 Yes, ABN AMRO won the Crystal Prize last year, in 2022. 394 00:22:23,330 --> 00:22:28,590 But why do they attach so much importance to good CSR reporting from a business perspective? 395 00:22:28,590 --> 00:22:32,299 What are the steps taken to improve their report? 396 00:22:32,299 --> 00:22:36,549 And what added value do they feel that completing a self -assessment brings them? 397 00:22:36,549 --> 00:22:41,620 Do you have any questions besides these questions for our guests, put them in the chat! 398 00:22:41,620 --> 00:22:44,790 Then we will try as much as possible to to answer them. 399 00:22:44,790 --> 00:22:52,370 And to answer all those questions here are, oh my iPad falls over for a moment… 400 00:22:52,370 --> 00:23:02,540 Are ABN AMRO business and human rights advisors – Yuri Herder and Emmelie Claessens. 401 00:23:02,540 --> 00:23:03,540 Welcome. 402 00:23:03,540 --> 00:23:04,540 Thank you. 403 00:23:04,540 --> 00:23:05,540 Thank you. 404 00:23:05,540 --> 00:23:10,090 Glad you're here and congratulations again on winning the Crystal Prize. 405 00:23:10,090 --> 00:23:15,700 Emmelie , what concrete steps has ABN AMRO taken in recent years 406 00:23:15,700 --> 00:23:18,159 To improve your CSR reporting? 407 00:23:18,159 --> 00:23:23,710 First let me say human rights is a very important theme for ABN AMRO. 408 00:23:23,710 --> 00:23:28,429 Therefore, it is also an integral part of our annual report. 409 00:23:28,429 --> 00:23:31,820 That is built around the annual report. 410 00:23:31,820 --> 00:23:38,660 Then we have the human rights report and the impact report, which are also part of it. 411 00:23:38,660 --> 00:23:44,250 And that has been the case since 2016, that the human rights report is part of it. 412 00:23:44,250 --> 00:23:49,900 And that is of course also because we work on a human rights program, very intensively. 413 00:23:49,900 --> 00:23:54,200 And that reporting is just a reflection of that. 414 00:23:54,200 --> 00:23:56,929 Yes, a shame not to report. 415 00:23:56,929 --> 00:24:01,780 Exactly, if you're already at it, better report on it. 416 00:24:01,780 --> 00:24:04,720 And if you look at concrete steps. 417 00:24:04,720 --> 00:24:08,840 We have limited assurance on our first part of the annual report. 418 00:24:08,840 --> 00:24:12,870 And we have limited assurance on the entire human rights report. 419 00:24:12,870 --> 00:24:18,820 We also have sustainability aspects in certain sections of the annual report. 420 00:24:18,820 --> 00:24:26,610 And just for those who don't work within the audit department, how does that work with the assurance levels? 421 00:24:26,610 --> 00:24:32,390 'Limited assurance' means that the accountant checks that you have nothing in your report 422 00:24:32,390 --> 00:24:34,890 which is incorrect. 423 00:24:34,890 --> 00:24:40,750 So for us, we make statements in the report, which are then checked 424 00:24:40,750 --> 00:24:44,090 whether or not they are false. 425 00:24:44,090 --> 00:24:46,580 Yes, so that's all double checked. 426 00:24:46,580 --> 00:24:49,910 And you also have more levels in it, don't you? 427 00:24:49,910 --> 00:24:53,860 Yes, you also have ' reasonable assurance ' - that's one step further. 428 00:24:53,860 --> 00:24:56,710 Is there such a thing as 'full assurance '? 429 00:24:56,710 --> 00:24:57,770 Very good question. 430 00:24:57,770 --> 00:24:59,549 I already see someone gesturing.. 431 00:24:59,549 --> 00:25:02,760 I don't think so, maybe they will go there. 432 00:25:02,760 --> 00:25:06,000 No but reasonable assurance ' is also already quite extensive. 433 00:25:06,000 --> 00:25:11,620 But also very challenging when you talk about human rights reporting – where you mostly have 434 00:25:11,620 --> 00:25:14,040 qualitative reports on impact on people. 435 00:25:14,040 --> 00:25:15,950 That's a bit more complicated. 436 00:25:15,950 --> 00:25:19,660 But even 'limited assurance' is good And very challenging to obtain, 437 00:25:19,660 --> 00:25:20,970 As you mentioned before. 438 00:25:20,970 --> 00:25:21,970 Sorry, elaborate. 439 00:25:21,970 --> 00:25:27,840 If you then look at that sustainability, we also have sustainability aspects in the annual report. 440 00:25:27,840 --> 00:25:35,260 And there we report on sustainability risks that we have as a bank and also how we manage those. 441 00:25:35,260 --> 00:25:41,760 And in addition, reporting on something like that helps the human rights program we’re running 442 00:25:41,760 --> 00:25:43,640 to further integrate that into the organization. 443 00:25:43,640 --> 00:25:50,280 And that, of course, is all linked to the human rights program we conduct. 444 00:25:50,280 --> 00:25:52,120 So that reflects that nicely. 445 00:25:52,120 --> 00:25:53,120 Yes. 446 00:25:53,120 --> 00:25:58,500 And Yuri, maybe you can elaborate on that Human Rights Report? 447 00:25:58,500 --> 00:26:00,900 Why did you win the award? 448 00:26:00,900 --> 00:26:01,900 Yes. 449 00:26:01,900 --> 00:26:06,230 So we did indeed won the Crystal Prize last year. 450 00:26:06,230 --> 00:26:12,970 And that's basically across our entire reporting, I can't say suite, but reports 451 00:26:12,970 --> 00:26:15,799 on human rights in recent years. 452 00:26:15,799 --> 00:26:22,890 We actually started in 2012 with our commitment to Human Guiding Principles 453 00:26:22,890 --> 00:26:24,750 on Businesses and Human Rights . 454 00:26:24,750 --> 00:26:27,530 Those are the standards from the United Nations. 455 00:26:27,530 --> 00:26:33,050 From the United Nations, those are about due diligence – what Giuseppe just spoke 456 00:26:33,050 --> 00:26:34,050 about. 457 00:26:34,050 --> 00:26:40,549 So through thorough research into your activities And possible abuses in the chains of your company. 458 00:26:40,549 --> 00:26:45,950 And to manage on that and ultimately to report on. 459 00:26:45,950 --> 00:26:49,720 We made that commitment in 2012. 460 00:26:49,720 --> 00:26:56,960 Then in 2015 we first got our 'salient issues' determined, our 'salient 461 00:26:56,960 --> 00:26:57,960 human rights issues. 462 00:26:57,960 --> 00:27:02,270 That's a very complicated term for the most important issues for you as a company. 463 00:27:02,270 --> 00:27:07,780 So where do you, as a company, have the most impact on people with your activities or the activities 464 00:27:07,780 --> 00:27:09,430 in your chains. 465 00:27:09,430 --> 00:27:14,610 You actually determine those ' salient issues' to bring focus to your human rights risk management. 466 00:27:14,610 --> 00:27:15,610 We determined this in 2015. 467 00:27:15,610 --> 00:27:22,950 Then we talked about it for the first time in our 2016 report, in line with the reporting framework 468 00:27:22,950 --> 00:27:25,070 from the United Nations. 469 00:27:25,070 --> 00:27:26,470 Really specific about human rights. 470 00:27:26,470 --> 00:27:30,750 And that reporting framework actually forces you to be very transparent about what you do. 471 00:27:30,750 --> 00:27:37,669 Because you actually report step by step through the 'due dligence cycle' 472 00:27:37,669 --> 00:27:38,669 473 00:27:38,669 --> 00:27:42,390 To ensure that you respect human rights and communicate honestly about it 474 00:27:42,390 --> 00:27:43,390 To others. 475 00:27:43,390 --> 00:27:44,390 Also how you monitor it. 476 00:27:44,390 --> 00:27:46,580 Do you actually make it measurable? 477 00:27:46,580 --> 00:27:47,580 That's right. 478 00:27:47,580 --> 00:27:48,580 as measurable as possible. 479 00:27:48,580 --> 00:27:51,230 So we did that for the first time in 2016. 480 00:27:51,230 --> 00:27:53,580 Again in 2018. 481 00:27:53,580 --> 00:27:57,990 In 2020 we then recalibrated our focus somewhat. 482 00:27:57,990 --> 00:28:02,010 We've looked again at our ' salient issues': are they still relevant in this zeitgeist 483 00:28:02,010 --> 00:28:03,070 484 00:28:03,070 --> 00:28:06,090 Are there issues that have become more relevant, less relevant? 485 00:28:06,090 --> 00:28:10,740 We made a new ‘salient issue determination’ on those. 486 00:28:10,740 --> 00:28:14,690 And we reported on that again, in 2020. 487 00:28:14,690 --> 00:28:20,010 And in 2020 we also asked EY to to work with us on ' limited assurance ' 488 00:28:20,010 --> 00:28:21,120 of our report. 489 00:28:21,120 --> 00:28:25,550 But when I hear this, I do think it sounds a bit tangly to choose and recalibrate new salient issues 490 00:28:25,550 --> 00:28:28,429 491 00:28:28,429 --> 00:28:31,950 How do you see comparisons to what has gone before? 492 00:28:31,950 --> 00:28:36,330 Can you still… That is a good question. 493 00:28:36,330 --> 00:28:40,429 You report a number of salient issues over a number of years 494 00:28:40,429 --> 00:28:42,130 And in those years, you can see progression 495 00:28:42,130 --> 00:28:45,600 When we started recalibrating them, Which of course is important 496 00:28:45,600 --> 00:28:49,090 Because it could be that you’re focusing on the wrong things. 497 00:28:49,090 --> 00:28:51,310 That your business activities have changed, for example 498 00:28:51,310 --> 00:28:55,060 But to avoid easily saying that on these issues we’re making a lot of difference 499 00:28:55,060 --> 00:28:57,289 We will bring up new issues. 500 00:28:57,289 --> 00:29:04,289 Of course you take your old issues as a starting point, with that recalibration, and then you look at: 501 00:29:04,289 --> 00:29:11,670 are these still relevant, do we have them under control, or are we no longer 502 00:29:11,670 --> 00:29:13,510 Impacting people in that way? 503 00:29:13,510 --> 00:29:20,370 And you really don't need such a recalibration every year, or every month. 504 00:29:20,370 --> 00:29:23,789 But the idea is that you do that every 5 years. 505 00:29:23,789 --> 00:29:28,590 At least at the moment you notice that there is a change. 506 00:29:28,590 --> 00:29:29,840 Then you can still show a line. 507 00:29:29,840 --> 00:29:34,240 Exactly, then you can still show a line in 5 years or more or less.. 508 00:29:34,240 --> 00:29:37,100 Plus, of course, the world is also changing. 509 00:29:37,100 --> 00:29:44,690 ' Salient issues', if you look at privacy and issues like that, they did not existed 20 years ago. 510 00:29:44,690 --> 00:29:45,990 511 00:29:45,990 --> 00:29:54,050 Especially in the context of countries, in China you see that, in Russia. 512 00:29:54,050 --> 00:29:56,610 So responding to current events. 513 00:29:56,610 --> 00:30:01,519 Emmelie , what has been the added value for you in all these years 514 00:30:01,519 --> 00:30:03,679 Of participating, actively, in the Transparency Benchmark? 515 00:30:03,679 --> 00:30:15,899 If I look at that, since you’re already reporting – it is also good to Participate in a Transparency Benchmark 516 00:30:15,899 --> 00:30:16,899 517 00:30:16,899 --> 00:30:18,309 We see that as 'normal'. 518 00:30:18,309 --> 00:30:22,260 And of course you enable yourself to learn from other companies and they can learn from you. 519 00:30:22,260 --> 00:30:24,710 And you can also give feedback to each other. 520 00:30:24,710 --> 00:30:30,549 That also ensures that your reporting can improve. 521 00:30:30,549 --> 00:30:38,200 And apart from that, you also notice that you get appreciation for it 522 00:30:38,200 --> 00:30:40,820 We received the Crystal Prize last year from the jury. 523 00:30:40,820 --> 00:30:45,040 Because we reported very transparently on human rights. 524 00:30:45,040 --> 00:30:49,330 And that also encourages you to keep going go on this topic. 525 00:30:49,330 --> 00:30:50,930 Yes, exactly. 526 00:30:50,930 --> 00:30:56,279 And what ambitions and steps do you still want to take To comply with the upcoming CSRD 527 00:30:56,279 --> 00:30:57,279 guidelines? 528 00:30:57,279 --> 00:30:58,870 Yes, that's a good question. 529 00:30:58,870 --> 00:31:03,880 We are very busy with that, internally at ABN AMRO. 530 00:31:03,880 --> 00:31:08,680 So we are currently working, particularly also, in the first instance on 531 00:31:08,680 --> 00:31:14,611 On how that salient issues concept and the impact on people relates to the double materiality 532 00:31:14,611 --> 00:31:16,620 on which to report. 533 00:31:16,620 --> 00:31:18,419 There will be overlap. 534 00:31:18,419 --> 00:31:20,850 But there will also be aspects that are different. 535 00:31:20,850 --> 00:31:25,269 Our human rights reporting will therefore look different 536 00:31:25,269 --> 00:31:30,700 It is expected to become more integrated in our integrated annual reporting. 537 00:31:30,700 --> 00:31:35,650 So that you also go a little deeper into human rights risks there. 538 00:31:35,650 --> 00:31:42,090 We are still in the process of getting that ready, since we first have to report on it next year. 539 00:31:42,090 --> 00:31:43,090 540 00:31:43,090 --> 00:31:49,030 In any case, what is certain is that we already have so much experience with reporting 541 00:31:49,030 --> 00:31:54,899 in the field of human rights – that we do expect that we have taken all the necessary steps 542 00:31:54,899 --> 00:31:58,230 to be ready for next year. 543 00:31:58,230 --> 00:32:01,690 You have indeed already earned a mark there 544 00:32:01,690 --> 00:32:03,080 And what do you think? 545 00:32:03,080 --> 00:32:08,230 We’ve worked hard, and hopefully that way well deserved yes. 546 00:32:08,230 --> 00:32:13,600 I'm going to take a look at my screen, because the chat questions are coming on there in the meantime. 547 00:32:13,600 --> 00:32:15,910 Let’s have a look. 548 00:32:15,910 --> 00:32:19,530 There's a question for both of you from Rob. 549 00:32:19,530 --> 00:32:24,059 He asks: when giving out loans, does ABN AMRO also consider whether The use of that money 550 00:32:24,059 --> 00:32:25,210 Is sustainable? 551 00:32:25,210 --> 00:32:31,500 I see a lot of information on the website About what ABN AMRO itself does in terms of sustainability. 552 00:32:31,500 --> 00:32:36,550 Well there are several elements of sustainability in our business. 553 00:32:36,550 --> 00:32:42,480 Initially in our own activity: in our buildings et cetera, how do we deal with 554 00:32:42,480 --> 00:32:43,480 our employees? 555 00:32:43,480 --> 00:32:46,740 But we certainly do, and our ‘salient issues’ also 556 00:32:46,740 --> 00:32:49,240 Mainly focus on the business relationships. 557 00:32:49,240 --> 00:32:50,900 This includes our credit customers. 558 00:32:50,900 --> 00:32:57,980 So we focus on certain high-risk sectors And do a very thorough investigation 559 00:32:57,980 --> 00:33:05,309 to what kind of impact it has on the environment, but also on human rights. 560 00:33:05,309 --> 00:33:07,980 So a screening and assessment take place? 561 00:33:07,980 --> 00:33:10,179 Yes, we call that due diligence. 562 00:33:10,179 --> 00:33:12,850 You do research into the risks that exist involved with a customer. 563 00:33:12,850 --> 00:33:14,470 You look at how a customer handles those risks 564 00:33:14,470 --> 00:33:19,330 You look at how a customer reports and how transparent They are in dealing with those risks. 565 00:33:19,330 --> 00:33:26,019 And based on that, we do this especially in the high risk sectors - think oil and gas, agriculture 566 00:33:26,019 --> 00:33:27,399 etcetera. 567 00:33:27,399 --> 00:33:28,820 Good to hear. 568 00:33:28,820 --> 00:33:31,900 I hope that answers your question Rob. 569 00:33:31,900 --> 00:33:37,730 with transparency, you still risk losing out to competitors who are less transparent and selective in what they disclose. 571 00:33:41,909 --> 00:33:43,260 Very good point. 572 00:33:43,260 --> 00:33:48,440 How do you think or hope that the CSRD will affect this? 573 00:33:48,440 --> 00:33:52,190 In any way, we hope it's a positive development 574 00:33:52,190 --> 00:33:54,980 Because then everyone will have to report. 575 00:33:54,980 --> 00:33:59,240 Of course we do think that assurance, like we have on human rights reports, 576 00:33:59,240 --> 00:34:04,510 really helps to create more legitimacy also to the outside world. 577 00:34:04,510 --> 00:34:09,760 Like: hey, what we do is audited by an independent person. 578 00:34:09,760 --> 00:34:15,829 So that's an extra step, but I think that the CSRD itself is already a good step forward 579 00:34:15,829 --> 00:34:16,829 580 00:34:16,829 --> 00:34:23,899 That it offers a fairer ‘level playing field’ among competitors 581 00:34:23,899 --> 00:34:32,260 Indeed, the CSRD will ensure that 'level playing field' much more we think. 582 00:34:32,260 --> 00:34:37,770 Right now, you're a forerunner within the field of ESG reporting or integrated 583 00:34:37,770 --> 00:34:44,849 reporting and human rights reporting - you make yourself vulnerable in a way. 584 00:34:44,849 --> 00:34:50,060 You take responsibility for it, and because of that your stakeholders can also hold you accountable. 585 00:34:50,060 --> 00:34:51,470 And that happens. 586 00:34:51,470 --> 00:34:57,770 But the difference is, that if you go through an assurance process You are extra transparent and can also 587 00:34:57,770 --> 00:34:59,490 Be held accountable for it 588 00:34:59,490 --> 00:35:01,960 I don't want to say judged, but... 589 00:35:01,960 --> 00:35:03,530 It will come to the light 590 00:35:03,530 --> 00:35:04,720 Yes, it comes to the light. 591 00:35:04,720 --> 00:35:06,180 And that is good. 592 00:35:06,180 --> 00:35:08,410 Because that's where we all have to go. 593 00:35:08,410 --> 00:35:12,109 But it's nice that the CSRD catches up with companies that do so at a lesser rate 594 00:35:12,109 --> 00:35:13,109 595 00:35:13,109 --> 00:35:15,380 And are currently not being held accountable 596 00:35:15,380 --> 00:35:19,640 Yes, and companies that do even less, we also have a question about that. 597 00:35:19,640 --> 00:35:25,430 Because what would you advise to a company That is just starting out with their CSR reporting or human rights report 598 00:35:25,430 --> 00:35:26,430 599 00:35:26,430 --> 00:35:27,760 With all your experience. 600 00:35:27,760 --> 00:35:35,660 I'd say start by looking at what the most important impact is 601 00:35:35,660 --> 00:35:36,770 That you have as a company. 602 00:35:36,770 --> 00:35:40,950 So: where can you make the biggest difference? 603 00:35:40,950 --> 00:35:45,070 Can you give an example, it is said here. 604 00:35:45,070 --> 00:35:48,890 Maybe I can add something to that. 605 00:35:48,890 --> 00:35:54,800 Giuseppe just said it: it's important To know where you have the most impact on people and 606 00:35:54,800 --> 00:35:57,450 environment - if you're really talking about reporting broadly. 607 00:35:57,450 --> 00:35:59,530 And also involve your stakeholders. 608 00:35:59,530 --> 00:36:09,290 Of course you can't do it yourself from your high tower, or low tower, wherever your business 609 00:36:09,290 --> 00:36:10,290 is. 610 00:36:10,290 --> 00:36:11,640 The stakeholder consultation is important. 611 00:36:11,640 --> 00:36:16,710 Involve NGOs , trade unions, but also human rights or climate representatives. 612 00:36:16,710 --> 00:36:23,250 So really engage in the dialogue: what is important to you 613 00:36:23,250 --> 00:36:28,060 The impact of ABN AMRO lies mainly with her customers. 614 00:36:28,060 --> 00:36:31,380 Is ABN AMRO transparent about in which sectors they do business? 615 00:36:31,380 --> 00:36:33,940 Are certain sectors and sub-sectors excluded? 616 00:36:33,940 --> 00:36:36,770 What about, for example, the fossil and agro industry? 617 00:36:36,770 --> 00:36:38,820 Where can we find that information? 618 00:36:38,820 --> 00:36:41,050 A question from Charlotte for both of you. 619 00:36:41,050 --> 00:36:44,220 That is a complicated question. 620 00:36:44,220 --> 00:36:47,150 Yes, it's a bunch of questions too. 621 00:36:47,150 --> 00:36:54,000 I can say something about our exclusion policy and how we make choices about it. 622 00:36:54,000 --> 00:36:57,940 We never exclude sectors 623 00:36:57,940 --> 00:37:02,720 We have an inclusive strategy as a bank, where we talk to customers from all 624 00:37:02,720 --> 00:37:05,119 different sectors. 625 00:37:05,119 --> 00:37:10,650 You then sit at the table, you can talk to those customers about improvements in the area 626 00:37:10,650 --> 00:37:11,650 of sustainability. 627 00:37:11,650 --> 00:37:16,411 Where we don't see that, that improvement, where we think 'the will is not there' or 'the 628 00:37:16,411 --> 00:37:20,109 there is no possibility' – that’s when we no longer engage in that conversation. 629 00:37:20,109 --> 00:37:27,160 That doesn't happen in many ways, but for example, we exclude arms organizations and we also 630 00:37:27,160 --> 00:37:31,569 and we also exclude the tobacco sector 631 00:37:31,569 --> 00:37:34,690 Because we see there, that it has such a grove impact on human rights .. 632 00:37:34,690 --> 00:37:36,550 Excuse me which sector? 633 00:37:36,550 --> 00:37:38,420 The tobacco sector. 634 00:37:38,420 --> 00:37:42,360 There is really no improvement possible. 635 00:37:42,360 --> 00:37:45,760 So we're not going to engage with that. 636 00:37:45,760 --> 00:37:50,880 So you actually follow the company's line: do they show improvement? 637 00:37:50,880 --> 00:37:55,510 But it could also be the case that if they don't, the cooperation will end? 638 00:37:55,510 --> 00:37:56,780 639 00:37:56,780 --> 00:37:58,790 Yes, yes sure. 640 00:37:58,790 --> 00:38:01,660 That is certainly the case. 641 00:38:01,660 --> 00:38:05,540 That is not the starting point, but it is one possible end. 642 00:38:05,540 --> 00:38:08,280 You can also read that in our human rights report. 643 00:38:08,280 --> 00:38:12,410 What kind of steps we take, what kind of considerations we make. 644 00:38:12,410 --> 00:38:16,070 Then there's another question, actually following up the previous question, from Gerlof. 645 00:38:16,070 --> 00:38:20,810 Could you give an example of things that have improved with customers or suppliers because of what you do? 646 00:38:20,810 --> 00:38:21,810 647 00:38:21,810 --> 00:38:25,650 I must say in our human rights report there are many beautiful examples of this 648 00:38:25,650 --> 00:38:27,390 649 00:38:27,390 --> 00:38:28,520 Definitely worth reading 650 00:38:28,520 --> 00:38:34,200 There is a very nice part of the people report, there are many examples where we have 651 00:38:34,200 --> 00:38:38,300 – as we call it 'engagement' where we have engaged with 652 00:38:38,300 --> 00:38:42,400 clients operating in a high risk sector 653 00:38:42,400 --> 00:38:45,290 And where we expect improvement. 654 00:38:45,290 --> 00:38:52,610 This happens with some customers, but not with others Or at least not at the rate 655 00:38:52,610 --> 00:38:53,610 We expect. 656 00:38:53,610 --> 00:38:59,500 But eventually we will see that if we keep the conversation going, 657 00:38:59,500 --> 00:39:01,050 improvement can be achieved. 658 00:39:01,050 --> 00:39:03,530 And if you don't, then ultimately you don’t improve. 659 00:39:03,530 --> 00:39:04,530 Yes exactly. 660 00:39:04,530 --> 00:39:09,020 So they do feel the pressure. Or, I don't know if it's pressure or motivation 661 00:39:09,020 --> 00:39:12,140 but at least to change things and that things are happening. 662 00:39:12,140 --> 00:39:16,890 Thank you very much Emmelie and Yuri for your insights. 663 00:39:16,890 --> 00:39:20,170 We move on to our last guest. 664 00:39:20,170 --> 00:39:40,460 We will continue with practical tips for the self -assessment. 665 00:39:40,460 --> 00:39:47,300 EY, as an independent party, assesses companies' CSR reports and provides feedback 666 00:39:47,300 --> 00:39:50,470 on the quality and transparency of reporting. 667 00:39:50,470 --> 00:39:55,359 And they also give advice on how organizations can improve their reporting. 668 00:39:55,359 --> 00:40:01,160 They also publish an annual report with the findings of the Transparency Benchmark. 669 00:40:01,160 --> 00:40:04,910 They take trends in the area into account of CSR reporting. 670 00:40:04,910 --> 00:40:09,350 As we've seen before, or example SDGs were more and more included. 671 00:40:09,350 --> 00:40:12,480 And now some parts of the CSRD. 672 00:40:12,480 --> 00:40:14,920 And also the EU taxonomy. 673 00:40:14,920 --> 00:40:21,440 And also this year they are going to research the participating group of 500 companies. 674 00:40:21,440 --> 00:40:26,619 Quite a job, but what does the research entail exactly and what matters do you have to take into account 675 00:40:26,619 --> 00:40:29,580 While filling in the self-assessment? 676 00:40:29,580 --> 00:40:35,560 Fortunately, you get some support for that and we get more clarity from our last 677 00:40:35,560 --> 00:40:40,180 guest: Senior Consultant at EY on Climate Change and Sustainability Services 678 00:40:40,180 --> 00:40:41,800 – Bas Sprenger the Rover. 679 00:40:41,800 --> 00:40:43,950 Bas welcome! Thank you, it's a mouth full. 680 00:40:43,950 --> 00:40:45,750 Yes, such a title, it is something. 681 00:40:45,750 --> 00:40:50,089 You're going to give us insights into the investigation and the self -assessment, right? 682 00:40:50,089 --> 00:40:51,089 Yes that's right. 683 00:40:51,089 --> 00:40:53,060 Can I have the clicker for that. 684 00:40:53,060 --> 00:40:56,471 That's a very good point, I would almost forget 685 00:40:56,471 --> 00:41:00,210 Good for the viewer to know is that if you have a comment or a question 686 00:41:00,210 --> 00:41:01,950 For Bas: write them down in the chat. 687 00:41:01,950 --> 00:41:06,670 And after Bas's presentation, we will answer your questions. 688 00:41:06,670 --> 00:41:09,860 Alright Bas, I now give you the floor. 689 00:41:09,860 --> 00:41:10,860 Thank you. And Hi. 690 00:41:10,860 --> 00:41:15,170 For the next 10 minutes to say a quick word about the survey itself, what it looks like, 691 00:41:15,170 --> 00:41:19,500 what it means for you, the self -assessment tool, how best to fill it in and 692 00:41:19,500 --> 00:41:23,580 what that kind of entails 693 00:41:23,580 --> 00:41:24,580 Very well. 694 00:41:24,580 --> 00:41:25,819 First the research in brief. 695 00:41:25,819 --> 00:41:30,530 We have seen that of the people present here, only 15% new. 696 00:41:30,530 --> 00:41:34,900 But I think it's still good to dwell on that, what that survey entails. 697 00:41:34,900 --> 00:41:40,950 Then we will zoom in on the tool: how it works what does it look like, what can you do with it 698 00:41:40,950 --> 00:41:43,530 and what's new this year? 699 00:41:43,530 --> 00:41:47,180 This year's honorable mention theme is 'dual materiality'. 700 00:41:47,180 --> 00:41:50,610 The topic has already briefly dropped in several talks. 701 00:41:50,610 --> 00:41:52,570 And it is very central to the CSRD. 702 00:41:52,570 --> 00:41:54,599 So we want to pay extra attention to that. 703 00:41:54,599 --> 00:41:57,910 I will tell you a little bit about how we are going to do so. 704 00:41:57,910 --> 00:42:03,240 And finally the timeline: what will the process look like. 705 00:42:03,240 --> 00:42:05,359 The research in brief. 706 00:42:05,359 --> 00:42:07,660 First a few words about the research group. 707 00:42:07,660 --> 00:42:08,920 Then you also have an idea about that. 708 00:42:08,920 --> 00:42:16,080 That's a group that's been gathered from a number of buckets, from a number of types of companies. 709 00:42:16,080 --> 00:42:24,950 First: the AEX, AMX and AScX – the small cap index – that is a total of 75 companies, 710 00:42:24,950 --> 00:42:26,329 i believe 73. 711 00:42:26,329 --> 00:42:30,470 Then the so-called PIEs , the Organizations of Public Interest – there are a lot of those in the Netherlands 712 00:42:30,470 --> 00:42:31,470 713 00:42:31,470 --> 00:42:32,470 About 600 or so. 714 00:42:32,470 --> 00:42:35,230 But there is a lot of overlap with other categories also. 715 00:42:35,230 --> 00:42:39,140 And internally, there are also a lot of group relationships. 716 00:42:39,140 --> 00:42:46,160 We then filtered them out, so that per group in most cases 1 company is included. 717 00:42:46,160 --> 00:42:49,069 State participations, that's just a neat list published by the government. 718 00:42:49,069 --> 00:42:50,069 That's 32. 719 00:42:50,069 --> 00:42:56,030 Then the voluntary participants, those abbreviations stand for the Association of Universities 720 00:42:56,030 --> 00:42:57,030 and Medical Centers in the Netherlands. 721 00:42:57,030 --> 00:43:00,870 That's about 21 institutions. 722 00:43:00,870 --> 00:43:08,050 And what was left in terms of space to that 500, has been filled with other larger companies 723 00:43:08,050 --> 00:43:11,480 in the Netherlands - which have participated in previous years 724 00:43:11,480 --> 00:43:15,720 And so we come to the group of about 500 largest companies. 725 00:43:15,720 --> 00:43:25,230 By the way, those asterisks refer to the website of RVO, where you can find the participation protocol 726 00:43:25,230 --> 00:43:26,240 727 00:43:26,240 --> 00:43:30,020 In much more detail, these documents are there as well. 728 00:43:30,020 --> 00:43:34,790 The slides, will be mailed to you afterwards So there you can 729 00:43:34,790 --> 00:43:35,869 also click on these links. 730 00:43:35,869 --> 00:43:37,470 Then you get there very easily. 731 00:43:37,470 --> 00:43:42,800 The criteria, which are two categories. 732 00:43:42,800 --> 00:43:44,990 First, the criteria for the assessment. 733 00:43:44,990 --> 00:43:47,660 We'll talk about that in a bit more detail 734 00:43:47,660 --> 00:43:51,770 They are unchanged from two years ago, 2021. 735 00:43:51,770 --> 00:43:58,319 However, you will see that, for those who have completed it before, there is a bit more information available 736 00:43:58,319 --> 00:44:00,840 on the interpretation of the criteria. 737 00:44:00,840 --> 00:44:04,520 In the next slide I will show you how To find them. 738 00:44:04,520 --> 00:44:10,070 The second category in terms of criteria is the kind of information That qualifies for the assessment. 739 00:44:10,070 --> 00:44:13,790 You can of course say: is information time-barred at some point, 740 00:44:13,790 --> 00:44:16,390 or can I just put something on my website and does that apply? 741 00:44:16,390 --> 00:44:20,890 Basically, we are talking about public and periodic accountability information. 742 00:44:20,890 --> 00:44:23,819 So in a word: the annual report, in most cases. 743 00:44:23,819 --> 00:44:30,579 But since we are talking about CSR, there is certainly also a 'stand alone ' sustainability report 744 00:44:30,579 --> 00:44:31,579 745 00:44:31,579 --> 00:44:34,210 Many companies today have that Side by side 746 00:44:34,210 --> 00:44:40,401 In addition, many companies do not yet include their sustainability information in their annual report. 747 00:44:40,401 --> 00:44:41,599 748 00:44:41,599 --> 00:44:44,490 But do have something published about it on their website 749 00:44:44,490 --> 00:44:52,880 If we think that or if we want to take that into account, then that must be specific information. 750 00:44:52,880 --> 00:44:57,750 It cannot be that there is only a general website – we have put something there and look at that 751 00:44:57,750 --> 00:44:58,750 752 00:44:58,750 --> 00:45:03,340 There must be a reference from a report, out an annual report, i.e. periodic information 753 00:45:03,340 --> 00:45:06,109 must be a reference to such a website page. 754 00:45:06,109 --> 00:45:10,520 Perhaps an example to make it more concrete: in your annual report or in the integrated 755 00:45:10,520 --> 00:45:14,849 annual report - so that contains both financial and non-financial information 756 00:45:14,849 --> 00:45:19,280 there is information about how the company deals with suppliers. 757 00:45:19,280 --> 00:45:22,420 We did a study on that or we audit them, et cetera. 758 00:45:22,420 --> 00:45:27,270 And then they publish, for example, very transparently a list of all suppliers in one 759 00:45:27,270 --> 00:45:28,400 specific risk area. 760 00:45:28,400 --> 00:45:30,609 That list is not included in the annual report. 761 00:45:30,609 --> 00:45:34,260 But they do refer to that specifically: 'view via this link'. 762 00:45:34,260 --> 00:45:37,740 You can get points for that, even if it is not listed in the report itself. 763 00:45:37,740 --> 00:45:43,980 That is an example of a specific reference, and then a website can also count. 764 00:45:43,980 --> 00:45:46,930 Here on this slide is an example of that 'i ' . 765 00:45:46,930 --> 00:45:54,109 So there is more information about that this year On how to interpret the criteria. 766 00:45:54,109 --> 00:45:56,950 There has been some confusion about that in the past. 767 00:45:56,950 --> 00:46:02,210 This is also immediately the environment of the research, of the self-assessment tool. 768 00:46:02,210 --> 00:46:07,260 So we really call for people to Fill this in 769 00:46:07,260 --> 00:46:10,470 That has also been mentioned a few times, but I would like to highlight it again. 770 00:46:10,470 --> 00:46:15,950 So we as EY are looking at it, even if a company does not fill in anything at all. 771 00:46:15,950 --> 00:46:19,220 Then we will try to find relevant information 772 00:46:19,220 --> 00:46:23,859 But, first of all, if you are yourself fill it in – you're obviously better aware of your subject matter yourself. 774 00:46:25,450 --> 00:46:29,589 You can steer our eyes in the right direction. 775 00:46:29,589 --> 00:46:33,870 Then there is a much higher chance that we will also find relevant information, so that you 776 00:46:33,870 --> 00:46:35,170 scores higher points. 777 00:46:35,170 --> 00:46:41,530 And second, when it comes to feedback, that questions that you have filled in where 778 00:46:41,530 --> 00:46:46,710 we think that it is not enough information– there 779 00:46:46,710 --> 00:46:48,000 we provide feedback. 780 00:46:48,000 --> 00:46:52,860 The moment this is not filled in from the company itself, you don't get feedback on that either 781 00:46:52,860 --> 00:46:53,860 782 00:46:53,860 --> 00:46:58,380 That is a second good reason for the self -assessment tool as well as possible and as comprehensive as possible 783 00:46:58,380 --> 00:47:01,740 to fill in. 784 00:47:01,740 --> 00:47:04,040 Then: what are we actually talking about? 785 00:47:04,040 --> 00:47:05,480 What are the subjects actually? 786 00:47:05,480 --> 00:47:08,420 There's a lot of text here, but I will walk you through it. 787 00:47:08,420 --> 00:47:11,109 Basically there are two general categories. 788 00:47:11,109 --> 00:47:13,280 There is a content-oriented framework of standards. 789 00:47:13,280 --> 00:47:17,890 So: what are you actually telling us as a reader? 790 00:47:17,890 --> 00:47:20,960 And the second category: the quality-oriented standards framework. 791 00:47:20,960 --> 00:47:22,550 So: how is that being told? 792 00:47:22,550 --> 00:47:25,339 Then the subcategories. 793 00:47:25,339 --> 00:47:28,369 In terms of content - the organization and the chain. 794 00:47:28,369 --> 00:47:33,769 So what do you say about your company in a general sense, your business model, opportunities and risks 795 00:47:33,769 --> 00:47:35,680 – also in relation to your environment. 796 00:47:35,680 --> 00:47:38,050 That is of course very relevant, also for CSR. 797 00:47:38,050 --> 00:47:40,270 That's what the questions in this category are about. 798 00:47:40,270 --> 00:47:42,980 Strategy, management and governance. 799 00:47:42,980 --> 00:47:43,980 What is your strategy? 800 00:47:43,980 --> 00:47:49,000 Not only in the financial field or governance area, but also in terms of sustainability? 801 00:47:49,000 --> 00:47:52,900 For example, do you have a ' value creation model ' included in your annual report? 802 00:47:52,900 --> 00:47:58,210 How do you see yourself creating value in a broad sense? for customers and society? 803 00:47:58,210 --> 00:48:03,720 And then: do you have an inventory made of what the most material themes are 804 00:48:03,720 --> 00:48:04,720 for your company 805 00:48:04,720 --> 00:48:08,000 This often comes in the form of a materiality matrix. 806 00:48:08,000 --> 00:48:13,240 That is the result of an investigation among different types of stakeholders. 807 00:48:13,240 --> 00:48:18,890 That's for a lot of sustainability reporting really the ' cornerstone ', the base, from which 808 00:48:18,890 --> 00:48:21,960 actually follow the next steps. 809 00:48:21,960 --> 00:48:25,170 Then about the third category. 810 00:48:25,170 --> 00:48:27,310 targeting and results. 811 00:48:27,310 --> 00:48:30,780 That's divided, ideally, by material theme 812 00:48:30,780 --> 00:48:34,730 So per different sustainability-related subject. 813 00:48:34,730 --> 00:48:37,329 Is there a policy on that? 814 00:48:37,329 --> 00:48:39,609 What is the approach for that topic? 815 00:48:39,609 --> 00:48:44,829 And even for some companies, they are already ready to let you know quantitative 816 00:48:44,829 --> 00:48:47,869 results on that as well 817 00:48:47,869 --> 00:48:50,180 Then the quality-oriented standards framework. 818 00:48:50,180 --> 00:48:54,380 I see I have to watch the time a bit. 819 00:48:54,380 --> 00:48:56,280 In communication: is it a coherent report? 820 00:48:56,280 --> 00:48:57,280 Is it clear? 821 00:48:57,280 --> 00:48:58,280 Is it also balanced? 822 00:48:58,280 --> 00:49:00,609 Isn't it just a 'good news story'. 823 00:49:00,609 --> 00:49:04,560 The fidelity, there are many points to be gained on assurance . 824 00:49:04,560 --> 00:49:06,319 Something we just heard at ABN AMRO. 825 00:49:06,319 --> 00:49:08,660 That is of course also important to EY. 826 00:49:08,660 --> 00:49:11,010 That also says a lot about reliability of the information. 827 00:49:11,010 --> 00:49:15,460 Then you can't just say something, because then an external party also looks at it. 828 00:49:15,460 --> 00:49:16,460 Then responsiveness. 829 00:49:16,460 --> 00:49:20,640 That is about, for example, also understanding previous years. 830 00:49:20,640 --> 00:49:23,680 So that not only information about the current year is told. 831 00:49:23,680 --> 00:49:26,880 But that comparison is also possible: is there progress? 832 00:49:26,880 --> 00:49:30,490 Are dilemmas mentioned, for example also. 833 00:49:30,490 --> 00:49:35,490 So again: not just 'good news story', but also 'what could be improved’ 834 00:49:35,490 --> 00:49:36,490 835 00:49:36,490 --> 00:49:39,809 I hope this is a bit of a good overview For everyone that is new with. 836 00:49:39,809 --> 00:49:40,809 This transparency investigation. 837 00:49:40,809 --> 00:49:47,470 You will also say that, but the self -assessment tool is now open – so go check it out. 838 00:49:47,470 --> 00:49:50,490 Then you will immediately see it in much more detail. 839 00:49:50,490 --> 00:49:51,970 Then how does the tool work? 840 00:49:51,970 --> 00:49:53,220 I think we can get through that quickly too. 841 00:49:53,220 --> 00:49:55,180 We hope he's very self – explanatory. 842 00:49:55,180 --> 00:49:58,599 Intuitively, I wrote down here. 843 00:49:58,599 --> 00:50:02,780 If that is not the case, there is a Helpdesk. 844 00:50:02,780 --> 00:50:06,210 That's what I and my colleagues are behind. 845 00:50:06,210 --> 00:50:08,809 It can even be done by phone, but preferably via email I think. 846 00:50:08,809 --> 00:50:10,610 So ask your questions there. 847 00:50:10,610 --> 00:50:15,250 An email has been sent to all participants with the login details – if you did not 848 00:50:15,250 --> 00:50:17,530 Receive them or can no longer receive them 849 00:50:17,530 --> 00:50:20,410 Then please also contact the Helpdesk. 850 00:50:20,410 --> 00:50:27,099 As much information as possible has already been entered, otherwise fill in as much as possible. 851 00:50:27,099 --> 00:50:36,200 For each criterion, this is another example, it is important that you add substantiation 852 00:50:36,200 --> 00:50:37,200 853 00:50:37,200 --> 00:50:41,869 Either descriptive or with a link to a web page or a report. 854 00:50:41,869 --> 00:50:46,069 And then the more specific you can be in that, the greater the chance that we can find 855 00:50:46,069 --> 00:50:47,069 relevant information 856 00:50:47,069 --> 00:50:51,109 So page numbers, specific descriptions or something like that Would be ideal. 857 00:50:51,109 --> 00:50:56,549 And then there are some criteria where the option 'not applicable' is given. 858 00:50:56,549 --> 00:51:00,480 Then it is really important that you indicate why it does not apply to your company 859 00:51:00,480 --> 00:51:01,480 860 00:51:01,480 --> 00:51:03,500 Because if we disagree or can't understand why that isn’t applicable 861 00:51:03,500 --> 00:51:05,770 For your business, otherwise the total points will be lower. 862 00:51:05,770 --> 00:51:09,540 So that's the total number of possible points 863 00:51:09,540 --> 00:51:12,549 If we agree that it is not applicable to your organization 864 00:51:12,549 --> 00:51:13,720 the total will also be lower. 865 00:51:13,720 --> 00:51:16,280 And then your total percentage is higher. 866 00:51:16,280 --> 00:51:20,190 So explain it please, when you find something not applicable. 867 00:51:20,190 --> 00:51:24,460 Then briefly on the theme of the honorable mention. 868 00:51:24,460 --> 00:51:29,859 That will also be explicitly mentioned during the Crystal event. 869 00:51:29,859 --> 00:51:32,970 That is about double materiality. 870 00:51:32,970 --> 00:51:35,910 That is an important part of the CSRD. 871 00:51:35,910 --> 00:51:41,890 And also the starting point of further ' information provision ' about sustainability. 872 00:51:41,890 --> 00:51:49,730 That double materiality, in the implementation can be quite a complicated assessment, but conceptually quite simple. 873 00:51:49,730 --> 00:51:56,750 It's about an organization not just looking at: 'what in sustainability land 874 00:51:56,750 --> 00:51:58,420 has an impact on my operations?'. 875 00:51:58,420 --> 00:52:03,880 But also: 'how did our operations impact people and nature?'. 876 00:52:03,880 --> 00:52:05,819 So it is outside -in and inside -out. 877 00:52:05,819 --> 00:52:11,860 assess that both ways and you will get a list of: 878 00:52:11,860 --> 00:52:14,270 'what are the most important subjects for me?'. 879 00:52:14,270 --> 00:52:15,329 Both of: 'what has an impact on me?' 880 00:52:15,329 --> 00:52:16,880 As well as 'what do I have an impact on?'. 881 00:52:16,880 --> 00:52:19,920 And then you come to your double materiality. 882 00:52:19,920 --> 00:52:21,520 We're going to look at that. 883 00:52:21,520 --> 00:52:24,740 You can also indicate it if you believe: here we are already doing very well. 884 00:52:24,740 --> 00:52:28,859 There is also a question about this in the assessment on double materiality. 885 00:52:28,859 --> 00:52:33,180 Indicate: we think this is double materiality. 886 00:52:33,180 --> 00:52:36,050 Then we know: hey, we have to be alert here. 887 00:52:36,050 --> 00:52:39,580 This could be a frontrunner for this honorable mention. 888 00:52:39,580 --> 00:52:45,900 And the Panel of Experts will be there too pay extra attention to this too. 889 00:52:45,900 --> 00:52:48,900 Finally, the process in the timeline. 890 00:52:48,900 --> 00:52:52,410 We are here now on April 26th at the Kick-off event. 891 00:52:52,410 --> 00:52:55,700 The deadline for the self -assessment is 1 July. 892 00:52:55,700 --> 00:52:58,440 So, get started with that! 893 00:52:58,440 --> 00:53:03,960 Then we have a month at EY to assess all 500 companies. 894 00:53:03,960 --> 00:53:05,720 So then we'll get started. 895 00:53:05,720 --> 00:53:07,160 Then we will communicate those scores back. 896 00:53:07,160 --> 00:53:10,720 Then comes the communication of the initial scores from us. 897 00:53:10,720 --> 00:53:13,329 And that is also the opening of the comment round. 898 00:53:13,329 --> 00:53:19,720 So then you will have the chance to share your feedback, which you only get if you have 899 00:53:19,720 --> 00:53:24,500 filled in the assessment 900 00:53:24,500 --> 00:53:27,050 Like, 'well, we think it is on that page', for instance. 901 00:53:27,050 --> 00:53:29,090 Then we go back and reevaluate with that new information 902 00:53:29,090 --> 00:53:32,440 You then have about 2 weeks to do so until August 18. 903 00:53:32,440 --> 00:53:38,020 And then on September 10, we communicate the final scores. 904 00:53:38,020 --> 00:53:41,400 And then our work goes to the Panel of Experts. 905 00:53:41,400 --> 00:53:46,049 Those meet a few weeks later, and those then go look at the Top 20. 906 00:53:46,049 --> 00:53:50,240 Then in October, the Jury meets to discuss the Top 3 – it has already been mentioned. 907 00:53:50,240 --> 00:53:54,030 And then the Crystal Award Ceremony is on 28 November. 908 00:53:54,030 --> 00:53:56,230 That was my story. 909 00:53:56,230 --> 00:53:57,430 That was your story. 910 00:53:57,430 --> 00:53:58,430 Bas, gosh 911 00:53:58,430 --> 00:54:00,160 I’m already getting excited that this happening again. 912 00:54:00,160 --> 00:54:05,770 And what an assignment to examine 500 assessments within a month 913 00:54:05,770 --> 00:54:07,000 Yes, we do it with a big team. 914 00:54:07,000 --> 00:54:14,010 What I gather from your story is that a higher score goes up for the more specific you are and that also the 915 00:54:14,010 --> 00:54:19,599 level of assurance definitely has an influence. 916 00:54:19,599 --> 00:54:26,250 I'll take a look at what's been asked In the chat. 917 00:54:26,250 --> 00:54:31,260 Someone asks: I fill in the assignment from the perspective of my organization 918 00:54:31,260 --> 00:54:32,260 919 00:54:32,260 --> 00:54:36,030 How does EY take these answers into account in the general judgement? 920 00:54:36,030 --> 00:54:39,240 How can this affect the score? 921 00:54:39,240 --> 00:54:42,000 I get that. 922 00:54:42,000 --> 00:54:45,799 You know your organization better than we do. 923 00:54:45,799 --> 00:54:50,230 We appreciate it if you fill in that assessment from that perspective 924 00:54:50,230 --> 00:54:54,569 I'm not sure I fully understand what's being said meant by 'the overall assessment' 925 00:54:54,569 --> 00:54:56,780 versus 'their interpretation'. 926 00:54:56,780 --> 00:55:03,030 We therefore assess your company when you do the self -assessment based on what you entered. 927 00:55:03,030 --> 00:55:06,910 True, but there are also companies that have not filled in the self-assessment 928 00:55:06,910 --> 00:55:11,800 So does the self-assessment then affect the overall assessment? 929 00:55:11,800 --> 00:55:17,470 Yes, sure, because as I've already tried to say. 930 00:55:17,470 --> 00:55:23,060 If you fill that in, and say: in this document or on this website page 931 00:55:23,060 --> 00:55:27,380 We have more information – or we have another 'stand alone ' human rights report or other report. 932 00:55:27,380 --> 00:55:29,210 You name it. 933 00:55:29,210 --> 00:55:30,680 Have a look at that page. 934 00:55:30,680 --> 00:55:35,440 If we don't have that guide, so in the case of companies that do not fill it in, 935 00:55:35,440 --> 00:55:36,850 then we have to look for ourselves. 936 00:55:36,850 --> 00:55:38,990 But of course there is also a time limit on. 937 00:55:38,990 --> 00:55:44,420 We can't have 500 companies, if half of them don't fill it in – then we are more likely 938 00:55:44,420 --> 00:55:47,680 although we do our best, to overlook things. 939 00:55:47,680 --> 00:55:50,710 So in that sense it definitely affects. 940 00:55:50,710 --> 00:55:56,849 In addition, as mentioned earlier, you can only access the comment round if 941 00:55:56,849 --> 00:55:59,080 you also have filled in something yourself in the assessment 942 00:55:59,080 --> 00:56:02,500 So if we say: we don't quite agree with this, or can you be more specific about 943 00:56:02,500 --> 00:56:08,619 what is meant by that or where it says that, so you still have a chance to interact 944 00:56:08,619 --> 00:56:09,619 with the reviewers. 945 00:56:09,619 --> 00:56:10,619 Exactly. 946 00:56:10,619 --> 00:56:15,900 I would therefore like to recommend everyone, grab that opportunity, Only if it were just for that round of feedback. 947 00:56:15,900 --> 00:56:21,109 Because that is also the piece of advice, feedback and how to learn. 948 00:56:21,109 --> 00:56:27,520 Dylan says: Bas indicated that the reference within the annual report to a specific 949 00:56:27,520 --> 00:56:32,059 overview, for example to exclusions and engagement, counts in the assessment. 950 00:56:32,059 --> 00:56:36,839 Do references in the annual report to more general policy documents on a specific 951 00:56:36,839 --> 00:56:38,220 Topic count too? 952 00:56:38,220 --> 00:56:39,450 For example human rights . 953 00:56:39,450 --> 00:56:43,030 Yes, I can actually answer that briefly 954 00:56:43,030 --> 00:56:48,011 As soon as it is in the annual report, that is a periodic report, if there is one 955 00:56:48,011 --> 00:56:51,450 specific link to a document then that will be taken. 956 00:56:51,450 --> 00:56:55,410 As long as that document is freely accessible 957 00:56:55,410 --> 00:56:57,309 So it can't be an internal document. 958 00:56:57,309 --> 00:57:00,589 Ah, that's a good point to know too. 959 00:57:00,589 --> 00:57:04,150 Also to anyone else who must be transparent 960 00:57:04,150 --> 00:57:06,900 That's a nice point. 961 00:57:06,900 --> 00:57:09,099 I think we're there then. 962 00:57:09,099 --> 00:57:18,960 I just want to add to your story: there are obviously things you can have questions about, 963 00:57:18,960 --> 00:57:22,980 for example about which business areas are more or less sustainable. 964 00:57:22,980 --> 00:57:25,400 965 00:57:25,400 --> 00:57:27,310 On rvo.nl there is a helpful ‘CSR risk checker’ for this. 966 00:57:27,310 --> 00:57:31,930 In addition, there are also several vouchers available to investigate or to make your own supply 967 00:57:31,930 --> 00:57:33,079 Chain more sustainable 968 00:57:33,079 --> 00:57:37,059 So if you run into issues, know that there is help. 969 00:57:37,059 --> 00:57:41,869 Bas, thank you very much for your contribution. 970 00:57:41,869 --> 00:57:45,690 Gosh, what have we all been able to experience this morning? 971 00:57:45,690 --> 00:57:48,270 We started with the opening of Ilknur Dönmez. 972 00:57:48,270 --> 00:57:52,690 She spoke from the perspective of the Ministry of Economic Affairs and Climate Policy about what the importance 973 00:57:52,690 --> 00:57:54,440 is of transparent CSR reporting. 974 00:57:54,440 --> 00:58:01,349 We talked to Giuseppe about and looked back over the past 20 years. 975 00:58:01,349 --> 00:58:04,690 A lot has changed and I would say: let's keep going like this. 976 00:58:04,690 --> 00:58:10,720 We also spoke to the Crystal Prize winners last year, ABN AMRO, about how they 977 00:58:10,720 --> 00:58:14,359 Obtain higher levels of assurance 978 00:58:14,359 --> 00:58:19,790 And that they also look forward to a fairer level playing field with the advent of due diligence 979 00:58:19,790 --> 00:58:20,790 legislation. 980 00:58:20,790 --> 00:58:25,320 And finally, Bas told us about the criteria of the Transparency Benchmark and 981 00:58:25,320 --> 00:58:28,220 Linkages with the CSRD. 982 00:58:28,220 --> 00:58:32,099 And explained how the self -assessment should be done and why you should fill it in. 983 00:58:32,099 --> 00:58:35,380 Speaking of which, I want to mention it Once more. 984 00:58:35,380 --> 00:58:38,630 The self -assessment is online now! 985 00:58:38,630 --> 00:58:46,369 So you can start filling it in now, you can go to the website of rvo – rvo.nl/transparantiebenchmark. 986 00:58:46,369 --> 00:58:48,619 There you will find information. 987 00:58:48,619 --> 00:58:55,470 And you will also find a link to the self -assessment in the email you will receive immediately after this program 988 00:58:55,470 --> 00:58:56,470 989 00:58:56,470 --> 00:59:03,819 We will send you more information, namely: the presentation that Bas has just given, 990 00:59:03,819 --> 00:59:10,369 evaluation questions, the timeline and also information about the replay link of this event, the video of 991 00:59:10,369 --> 00:59:11,369 This kick off. 992 00:59:11,369 --> 00:59:14,460 In case you missed a part or want to watch something again. 993 00:59:14,460 --> 00:59:19,099 The reporting will be reviewed by EY in the upcoming period 994 00:59:19,099 --> 00:59:20,940 And eventually also by the Panel of Experts. 995 00:59:20,940 --> 00:59:25,640 And if you really belong to the top, also by the Crystal Jury for the award of 996 00:59:25,640 --> 00:59:27,700 the Crystal Prize 2023. 997 00:59:27,700 --> 00:59:35,030 The event will be – as said before - on November 28. 998 00:59:35,030 --> 00:59:41,890 And there you will also hear what kind of follow-up the Transparency benchmark gets in the years 999 00:59:41,890 --> 00:59:42,890 after this. 1000 00:59:42,890 --> 00:59:47,520 Because this is the last edition, in this form as we know it today. 1001 00:59:47,520 --> 00:59:49,510 But of course, the support does not end there 1002 00:59:49,510 --> 00:59:50,880 There will be another sequel. 1003 00:59:50,880 --> 00:59:54,760 And because it's the last edition, please grab this opportunity And be present! 1004 00:59:54,760 --> 00:59:59,950 The event will include lectures, workshop, and other inspiring speakers 1005 00:59:59,950 --> 01:00:00,950 So do come. 1006 01:00:00,950 --> 01:00:04,710 It will be a beautiful event in a very beautiful location. 1007 01:00:04,710 --> 01:00:08,299 What it all looks like exactly Of course we're not going to reveal that just yet. 1008 01:00:08,299 --> 01:00:10,580 But you will find out later this year. 1009 01:00:10,580 --> 01:00:13,609 In any case, put November 28 in your agenda. 1010 01:00:13,609 --> 01:00:16,579 All right, it’s now time to end this webinar. 1011 01:00:16,579 --> 01:00:18,539 Thank you for watching. 1012 01:00:18,539 --> 01:00:21,099 And for your commitment to transparent CSR reporting. 1013 01:00:21,099 --> 01:00:27,069 I would say: I wish you the best of luck with the filling the self -assessment and drawing up 1014 01:00:27,069 --> 01:00:28,069 all reports. 1015 01:00:28,069 --> 01:00:35,760 Thanks again and I look forward to seeing you in November. 1016 01:00:35,760 --> 01:00:41,720 Goodbye!