In connection with the development of a new approach to corporate reporting, today JGL Group published its first integrated report, which provides an overview of sustainability-related financial and material topics. The report is focused on material economic, environmental and social impacts of business activities in 2020 and meets Croatia’s regulations governing the scope, contents and timelines of annual reports.
This step forward achieved through integrated reporting, i.e. publishing a single report that has so far consisted of two separate reports – the annual financial statement and the sustainable development report – follows international trends that place an increasing emphasis on its importance and significance.
Also, considering that reporting tendencies are adapting to complete digitalisation and transparency of the securities market, the Commission Delegated Regulation 2018/815 set out a new electronic reporting format known as the European Single Electronic Format (ESEF), which includes digital tagging of reports. Although issuers could postpone preparing their report in the new format for the following year due to the COVID-19 crisis, JGL made an additional effort and published its integrated report for 2020 in the new format.
As one of only a few companies that decided to do so, it now stands apart among more than 100 security issuers who have the obligation to submit reports to the Croatian Financial Services Supervisory Agency (HANFA) and the Zagreb Stock Exchange.
The audit of annual consolidated and unconsolidated financial statements of JGL d.d. and JGL Group was performed by Grant Thornton, while the sustainable development report was verified by the expert group of the Croatian Business Council for Sustainable Development. The single electronic format was prepared by the team from PricewaterhouseCoopers (PWC) Croatia, while Studio Sudar is credited with the design.