X5 to publish first GRI sustainability reportX5 Retail Group N.V. ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: "FIVE"), announces its plan to publish its first sustainability report in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards. The Company will publish its Annual Report with 2020 financial results on March 19 and the Sustainability Report by May 25.
The GRI Standards is a global non-financial reporting standard used by organisations to disclose their economic, environmental, and social impact. The Standards create a common framework for companies to assess and reveal their impact in terms of sustainability in a uniform and reliable way, increasing transparency and accountability in companies across the globe.
Adhering to international best practices, an external auditor will be appointed to assess the information which X5 intends to disclose in the Sustainability Report in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (revised). From next year, X5 plans to fully integrate its enhanced sustainability reporting within the 2021 Annual Report.
In December 2019, X5's Supervisory Board approved the Company's sustainable development strategy. Last year, X5 published specific sustainability performance targets, an ESG databook and its inaugural semi-annual ESG performance update.
The decision to prepare the Sustainability Report in accordance with GRI Standards and seek independent assurance of our disclosures reflects X5's continuous efforts to improve the quality of disclosures for our stakeholders, further embed sustainability principles within our Company and demonstrate our commitment to transparency and corporate social responsibility.
The Sustainability Report will present the key results of X5 Retail Group's economic, social and environmental sustainability initiatives for 2020, as well as actions taken by the Company to support communities in Russia in response to COVID-19.
"We aim to improve our non-financial data collection and disclosure practices every year, therefore the publication of the report in accordance with GRI Standards is the next step towards even greater transparency of X5 Retail Group. In December 2019, when the board approved the sustainable development strategy, we set targets for our key goals until 2030 and developed detailed plans and targets until 2023, integrating them into the Company's overall business strategy. Sustainability is an important area for X5 and we will continue to do our best to achieve our goals," - said Igor Shekhterman, CEO of X5 Retail Group.
X5 Group is a leading Russian food retailer (LSE and MOEX ticker: "FIVE")