Finnairin matka kohti integroitua raportointia

Transcription

1 Finnairin matka kohti integroitua raportointia Kati Ihamäki, Vice President Sustainable Development Mari Reponen, Director, IR and Financial Communications

2 Finnair today Focused on Asia-Europe traffic More than 9 million passengers and 2.4 billion EUR in revenue in 2013 Modern, fuel efficient and streamlined fleet Operationally one of the best airlines in the world Selected as Best Airline, Northern Europe by World Airline Awards 2010, 2011, 2012, 2013 Member of oneworld Goal: Asian revenue to double between 2010 and

3 Finnair s strategy supports sustainability Ecosmart - Choice of quality and environmentally conscious air travellers Via Helsinki concept means the shortest route a smooth and uncongested transit and cutting travel to comfortable sections generating fewer emissions Energy and material efficiency Open communication and constant dialogue 3

4 A business can only manage what it measures Six years in worldwide Carbon Disclosure Project (CDP) Finnair is the leading airline First airline to reach leadership index 2013 result 96/100 One of the first airlines to publish GRI (Global Reporting Initiative) corporate responsibility report Environmental reporting for over 15 years Sustainability reporting since social, ecological and financial dimensions Internationally recognised GRI reporting Targets to improve the transparency of corporate activity Towards Integrated reporting 4

5 Integrated reporting <IR> 5

6 What is Integrated Reporting (<IR>)? It is creating, capturing and communicating value Ties together the multiple dimensions of performance that create value Shows how a company takes into account other value than financial value Shows how a company minimizes and controls risks Enhances the quality of information given to investors and other stakeholders <IR> is a process founded on integrated thinking that results in a periodic integrated report by an organization about value creation over time and related communications regarding aspects of value creation. An integrated report is a concise communication about how an organization s strategy, governance, performance and prospects, in the context of its external environment, lead to the creation of value in the short, medium and long term. Source: 6

7 Guiding principles and Content elements Fundamental concepts How the organization creates and sustains value Source: 7

8 Finnair s approach to Integrated Reporting 8

9 Finnair s reporting history : Separate environmental report 2008 : Sustainability report in line with GRI Annual Report since late 1950s : Separate Annual Review 2013 : Towards Integrated Reporting : Separate Financial Review Annual Report divided to Business and Financial Reviews 2007 CDP reporting since Annual Review and Sustainability Report combined 9

10 Finnair targets and priorities for the 2013 report Better Finnair story discussing our Business model, value creation, targets and performance External and internal growth drivers and opportunities and risks Finnair s role in the society Combining GRI with other reporting Materiality In the spirit of GRI4 Internal targets Smooth process Cost and time efficient reporting Relevant, future oriented information 10

11 Shift in focus: more forward looking, more content on value creation Typical reporting mismatch* Case Finnair Due to our GRI reporting history, we wanted to include also GRI 3 data to the report Integration of two reports instead of developing one annual report More data on industry growth drivers (megatrends) and Finnair s value creation (internal processes) These combined with impacts to the society at large Finnair in the world *Source:IIRC 11

12 Key milestones June 2013: Decision to move toward Integrated Reporting September 2013: Internal workshops The objective of the workshop was to understand: What external factors in the external environment affect Finnair, and how. How the organization tailors its business model and strategy to respond to the opportunities and risks that arise from the external environment. What are Finnair s strategic strengths and weaknesses in relation to these risks and opportunities? Identify and provide insight into the capitals Finnair uses and affects through its business models. Some 30 participants from different businesses and support functions. One Executive Board member. October 2013: Materiality analysis Conducted among 6 stakeholder groups and Finnair Executive Board Questions classified to four categories: Environmental, Social, Economic, Product November 2013: final decision on report structure 12

13 Project calendar Internal brainstorming CR+IR Meetings with. Big4 sustainability-professionals, among others Preparation of workshop report, commenting rounds, and modifying content plan according to workshop outcomes Workshops Text production / Customers, Operations, Employees, Socity, Governance Text production/ Strategy, Finance Executive Board s comments to infographs Report published 5 March 2014 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Preparation of RFP, including Finnair s proposal on the strcuture of its first Integrated Report Preparation and implementation of materiality analysis, and modifying content plan according to workshop outcomes Layout plan incl. New financial statements structure RFP to four agencies Meeting agencies, partner selection Key phases - Learning about <IR>, identifying what it means for Finnair? - Workshops - Materiality analysis 13

14 Open dialogue with stakeholders Customers Investors Employees Employees Media Authori ties NGOs 14

15 The most material issues for stakeholders and management Safety Fuel efficiency Future competitiveness Network growth and securing the connections 15

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19 Finnair team and responsibilities Project lead: Mari Reponen, Director, IR and Financial Communications. Strategy, Finance, Governance content. SLOT I Elina Ämmälä, Manager Media Relations. Customers, Operations, Employees, Society, (Other.) SLOT II Content owners: Elina Ämmälä, Kati Ihamäki, VP Sustainable Development. SLOT II Mari Reponen, SLOT I Others involved : Joseph Knowles, Communications Specialist. SLOT II Outi Merilä, Inflight Supervisor, SLOT II Kati Kaksonen, IRO. SLOT I Elina Stråhlman, VP Group Accounting, SLOT I Pictures, visuals: Manti Väätäinen-Pereira, Communications Specialist. 19

20 Key take aways Integrated reporting requires integrated thinking Management support is a key Planning phase extremely important! There are no ready models how to do an integrated report Integrated Report is more company specific than typical annual reports material issues very from company to company even in the same industry Integrated Reporting forces a company to evaluate its business and communications from a new angle It will improve the company s story It may also help to develop the business and give holistic picture of operations in changing business environment 20

21 Finnair 2013 report 21

22 Next steps Defining the gaps and benchmarking Set the goals and team for 2014 report Executive Board workshop/personnel workshops Aug-Sept preferably Actual content planning based on these results Develop existing material further 22

23 Thank you Kati Ihamäki VP, Sustainable Development tel Mari Reponen Director, IR and Financial Communications tel