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28 featu Integrated Reporting_ Equities_ In September 2010, after more than five years of dedicated work, the DVFA Commission on Non-Financials released its ‘KPIs for ESG 3.0’, a collection of key performance indicators relating to topics of environment, social responsibility and corporate governance. For the 114 sub-sectors of the Stoxx Industry Classification Benchmark (ICB), indicators were aggregated, which can be reported by companies using a three level system. The DVFA publication, which has the international endorsement of EFFAS and is marketed as the ‘DVFA/ EFFAS KPIs for ESG 3.0’, has met with strong approval from numerous initiatives, standard setters and regulators, and is being described as unique and groundbreaking in its high degree of granularity and sectorspecificity. In 2010, initiatives and projects aimed at integrating financial and non-financial reporting were formed and refined. For years now, investors and financial analysts have rightly complained that, in addition to the traditional frameworks for financial reporting such as IFRS or US- GAAP, there is significant scope for voluntary reporting in sustainability, CSR and ESG reports. Given the past lack of coordination between the two, investment decisions often do not have an adequate basis of information about the corporates’ risks and opportunities. From September 2009 to March 2010, Ralf Frank, Managing Director of DVFA, took part on behalf of the Society in the ESG Disclosure Workshops held by the European Commission. At these events, which focussed on the issue of what form obligatory corporate ESG reporting should take, EFFAS partnered with other organisations to form the ECRA European Combined Reporting Alliance, a coalition of economic stakeholders in corporate communication. In October 2010, at the invitation of the two authors of ‘One Report’, Robert G. Eccles and Michael Krzus, Ralf Frank took advantage of the opportunity to speak about the work of EFFAS/DVFA at Harvard Business School in Boston/MA. In the context of the symposium, the foundations for integration of financial and ESG reporting were laid with the representatives of numerous initiatives, standard setters and regulators. Under the umbrella of the IIRC International Reporting Committee, standards are now being developed jointly worldwide by standard setters like IASB and FASB, associations of accounting professionals,
featu Integrated Reporting_ Equities_ e.g. FEE, IFAC, initiatives such as Accounting for Sustainability, AccountAbility and GRI Global Reporting Initiative, along with associations such as EFFAS. Ralf Frank represents DVFA and EFFAS within the IIRC as a member of the Content Working Group. With the Global Reporting Initiative (GRI), EFFAS has now initiated a dialogue, with the aim of exploring the synergies between the G3 and GRI reporting standards and the DVFA/EFFAS KPIs for ESG 3.0, to enable the roughly 3,000 companies now reporting in accordance with G3 to use the DVFA/EFFAS KPIs. In 2010, along with its efforts in the area of integrated reporting, DVFA supported the work of the German Council for Sustainable Development, which has released a draft Sustainability Code for the German business community. Based on a roundtable of the Council for Sustainable Development with investors and corporate representatives at the offices of DB Advisors, Prof. Dr. Alexander Bassen, University of Hamburg and Chief Financial Communication Advisor to DVFA, drafted the Code on the basis of the German Corporate Governance Code (Deutschen Corporate Governance Kodex – DCGK). The Sustainability Code contains principles that can be combined by companies with existing indicators, such as AA1000, GRI and DVFA/EFFAS. 29
Page 1: 50 YEARS Society of Investment Prof
Page 4 and 5: Imprint Publisher: DVFA e.V. Mainze
Page 6 and 7: “ Through our international membe
Page 8 and 9: 06 the board Through our internatio
Page 10 and 11: 08 the society Members of the Advis
Page 12 and 13: 10 featu DVFA celebrates its 50 Equ
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Page 44 and 45: 42 featu Training and Qualification
Page 50 and 51: 48 appendix Winfried Becker Fitch I
Page 52 and 53: 50 appendix Successful graduates of
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Equities - DVFA

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