6 May 2011
In 2010, EKF´s CSR report is published at level A, i.e. the highest level in the indicator matrix of the Global Reporting Initiative (GRI). The fact that EKF is now reporting at level A means that the report includes all the indicators within the system of GRI. Apart from EKF, only four other companies in Denmark are reporting at this level. “GRI” stands for “Global Reporting Initiative” and is an internationally acknowledged reporting framework.
The report shows that EKF has experienced a very high level of business activity throughout 2010 which has, as a natural consequence, affected the area of CSR. Thus, EKF screened 148 applications for impacts on people and the environment of which 31 projects were considered having potential significant impacts and therefore underwent a full social and environmental review by independent consulting companies. Where required, agreements have also been entered regarding the reduction of negative impacts.
13 of the largest projects alone contributed to local employment in various parts of the world equivalent to 1,600 man-years and a reduction in CO2 emission equivalent to 11 million tones. Local employment and reduction of CO2 emission are key parameters when assessing how business projects contribute to sustainable development, but EKF also relates to a number of other issues in its work with CSR such as labour rights, child labour and biodiversity.
In 2010, EKF also implemented a new openness policy including a code of conduct. As a consequence of the openness policy, EKF publishes, among others, a range of information regarding the business transactions in which we participate. Transparency regarding our transactions offers all stakeholders the possibility of acquainting themselves with the way EKF fulfills our mission and administers the money made available to us by the Danish state. In order to achieve the right balance between the companies´ need for confidentiality and the possibility of public insight, EKF will maintain complete discretion concerning all customer and transaction details up to 60 days following the issuance of a final guarantee. After this period selected information will be published. All other information will continue to be subject to complete discretion. Information regarding the openness policy and the list of business transactions can be seen on EKF´s website.
With the publication of the CSR report for 2010 EKF has set the direction for the work with CSR in the coming years. EKF will, among others, develop an actual climate strategy and revise the ways we assess the impacts on the environment and people caused by the projects.
Furthermore, EKF will make sure that our approach towards human rights will continue to follow the rules set by the UN Global Compact, the OECD, the World Bank and the Equator Principles.
Read EKF´s CSR report 2010 on www.ekf.dk
. The report consists of two parts: a report and a fact book with supplementary information.
Contact Iben Tjelum, email@example.com
, in case you wish to learn more about EKF´s work with CSR.