Social impact

Social impact means that an organisation - in addition to its own interests and shareholders' interests - adequately safeguards customer interests and does not prejudice those interests, which also means bearing responsibility for society in three areas: (1) Economy, (2) the Environment, and (3) Social Affairs. These three elements constitute the core of the Global Reporting Initiative (GRI) guidelines for sustainability reporting. The GRI reporting standards are internationally recognised standards for drawing up a sustainability report. By complying with these GRI reporting standards, but also through various other actions, organizations can shape the net effect that an activity has on a community and on the welfare of individuals. Furthermore the GRI reporting standards reflects on the ESG Reporting and the Corporate Sustainability Reporting Directive (CSRD).