CSR accounting framework
Q-Park takes the development of CSR reporting very seriously. During the past few years we have made a considerable effort to take our reporting to a higher level by establishing an ambitious position within the Top 500 of the Dutch Transparency Benchmark (TB). Our ambition is position within a bandwith of 20 to 50.
We see a 20 to 50 position on the TB as a validator of the fact that we apply the Reporting principles well. It also shows that we manage the process correctly in order to produce a correct, complete, balanced and accessible report.
Since 2013 we apply the G4 guidelines published by the Global Reporting Initiative (GRI). G4 places the materiality principle centre stage. To fully comply with the G4 requirements, we conduct a comprehensive external materiality analysis every three years.
Over the reporting year 2015 we included the principles of the International Integrated Reporting Council (IIRC) framework for integrated reporting.
At the end of each reporting year the Holding requests the CSR data. Using a specially developed and standardised data collection tool, the countries can gather their data and check it before sending it on to the Holding where it is subsequently consolidated and evaluated. The reporting process is standardised and the structure of the data requested can easily be checked for completeness and reliability. The whole process has already been prepared for future external verification.
CSR data reporting process
External verification increases the confidence stakeholders have in our accountability. It has a disciplinary effect on our internal organisation, but it also entails extra costs. Furthermore, it is essential that we are confident that we have the right evidence, which in itself places certain demands on an organisation of our size.
In Q-Park's current phase, the executive board wishes to focus on developing the company and our positioning in the market, and that requires our full attention. The executive board has therefore decided not to apply for external assurance. We will, of course, continue to structure our reporting in accordance with the quality standards that stakeholders expect from us.
An integrated annual report
Over the reporting year 2015 we will publish our first integrated report, as drawing up an integrated report is more efficient and more effective. A clear message strengthens our business model and gives us better insight into the direct and indirect results, as well as the financial and non-financial results, and their impact.
For this reason, we have already transposed our business model into a graphical format. You can see all our activities at a glance; it clearly shows the relationship between the financial and non-financial aspects. All material topics are included: our input, the services we provide, our customers, and the results of our efforts.
Digitisation is not only important in our primary processes, more and more communication takes place online. For this reason, we publish our annual reports online. In our reports, we no longer provide the more 'static' information as we publish static and/or generic information on our corporate website. We do create links and referrals where applicable and appropriate.
In order to gather and compare international data, we provide the country organisations with a specified dashboard for CSR. In this, the managing directors can indicate for which PIs they wish to see the results annually. We have also created a group dashboard for the countries which shows the most requested indicators. This enables them conduct their own CSR activities with greater focus and to compare results with each other.