In 2007-2009, the LOTOS Group published separate reports presenting its financial performance and its social and environmental performance. In 2010, as the first company in Poland, we adopted a new reporting model, meeting the requirements for both financial and sustainability reporting (triple bottom line reporting). Before the reporting was integrated, we had held consultations with our key stakeholder groups. Our aim was to understand their expectations as accurately as possible, but also to obtain assurance that we were prepared to introduce the changes.
The decision to revise the reporting model was driven mainly by our intention to provide the key stakeholders with a full picture of our operations, including the results of our core business, our CSR projects and activities aimed to reduce our environmental impact (triple bottom line). The decision coincided with the inclusion of Grupa LOTOS in the prestigious RESPECT Index of the Warsaw Stock Exchange, the first index of socially responsible companies in Central and Eastern Europe.
Currently, we are among the leaders of non-financial reporting in Poland. The reports released to date present the Company’s performance since 2006. Every year, their readers can assess the progress have made in implementing our CSR strategy. The integrated presentation of both financial and non-financial performance is particularly valuable to investors, as evidenced by a survey undertaken by Allianz Global Investors and GES Investment Services in 2011. It shows that the factoring of environmental, social and governance criteria into the portfolio-building process may reduce the associated investment risk by one third. Those values, in addition to ethical criteria, are appreciated by investors focusing on socially responsible investments, which has become an established market globally and is now emerging also in Poland. Transparent and reliable communication with the capital market is the key priority for Grupa LOTOS as a listed company. Thanks to our integrated reporting model relying on the recognised GRI standard, we are able to provide a means for objective and comprehensive evaluation of the LOTOS Group's results.