External reporting in accordance with best practices and standards
Regular external verification of selected ESG aspects
Our progress in 2022
As responsibility and trust become ever more valuable company assets, businesses increasingly need to communicate both credibly and transparently. We aim to improve our accountability and trust, showing how our strategy, corporate governance and results empower us to create value over the short, medium and long terms. It is to ensure that our stakeholders receive reliable information they can trust about our data and management practices that we have now implemented a set of widely accepted international standards and guidelines, including those from the Global Reporting Initiative, United Nations Global Compact, World Economic Forum, Sustainability Accounting Standards Board and Task Force on Climate-Related Financial Disclosures.
We have also built a comprehensive reporting and monitoring system involving key internal stakeholders across the company. We monitor our level of strategy implementation by analysing non-financial data from across the organisation, using tailor-made solutions such as our ESG application and dashboards. Non-financial data is collected on a quarterly basis, verified by a dedicated ESG controller and approved by business owners. Quarterly results are then presented to the Management Board during ESG meetings and to the Supervisory Board.
We use external auditors to provide independent data assurance. We also see great value in external reviews performed by independent rating agencies. International sustainability rating agency EcoVadis has positively verified our ESG-related activities, awarding us with its highest distinction, the EcoVadis Platinum Medal. This identifies us as one of the 1% of companies across the world that are successfully integrating non-financial factors into their strategies and operations. Moreover, we value the opportunity to exchange experiences with other companies, our suppliers and business partners – we want to inspire them to take ESG-related actions, are willing to share our knowledge and are open to feedback.
These high standards of transparency, alongside the commitments made under our Responsibility Strategy, have enabled us to gain financing based on our ESG targets.
3.3 Resilient management
Modern business must be credible and transparent in its operation, and responsibility and trust are currently the most valuable assets.
Our goal is to plan the development of our entire organisation in a responsible manner. We have already signed six agreements related to sustainable finance instruments, and we are actively cooperating with other market participants in this matter. Financial instruments based on ESG goals are an additional motivation for us to meet our commitments and proof that we take these commitments seriously. All agreements contain the company’s commitments related to the implementation of selected, measurable ESG goals, consistent with the Responsibility Strategy announced by Żabka Group in 2021. The first aspect is decarbonisation with goals validated by Science Based Target Initiative, the second one related to good nutrition area, where we support our customers to make more informed choices. The progress in achieving the objectives set out in the agreement will be verified after the end of a given financial year by an independent assurance provider. If we fail to achieve specified targets within an agreed timescale, we will provide additional funding for activities supporting United Nations Sustainable Development Goals (SDGs).
3.3 Resilient management
Our commitment to transparent reporting
Reporting on our ESG performance is a key aspect of our stakeholder communications and an essential way of building the credibility of the Żabka Group.
To ensure the highest standards of disclosure, we have prepared this, our fifth Responsibility Report, according to the latest Global Reporting Initiative Standards and the requirements of the Sustainability Accounting Standards Board (SASB). To ensure compliance and data reliability, we have procured an independent external verification in accordance with ISAE (International Standard on Assurance Engagements) 3000.
Having in 2020 become one of the first companies in Poland to publish a Climate Report, we have included this as part of this Responsibility Report, setting out our decarbonisation plan and reporting on progress against our science-based targets. Our approach has been rewarded in the past by prestigious awards. Our 2021 report was selected in the Hallbars Awards 2022 as one of the five best such disclosures in Central Europe.