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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
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