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Integrated reporting

EnBW has published its seventh integrated report for the financial year 2020. In order to meet the changing needs of stakeholders for information, many years ago EnBW has replaced the traditional split financial and sustainability reporting with one integrated report.

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EnBW recognised the importance of integrated reporting – which not only takes into account economic but also ecological and social dimensions – at an early stage. We have published an Integrated Annual Report based on the recommendations of the International Integrated Reporting Council (IIRC) since the 2014 financial year, with the aim of achieving a holistic representation of the performance of the company.

In our concise and transparent reporting, we aim to meet the increased needs of stakeholders for more information and we do this in order to provide our most important target groups (shareholders and the capital market, employees, society and business partners) with a holistic representation of the performance of the company. The dimensions of ecology, economy and social aspects are firmly embedded in the EnBW 2025 strategy, reflecting the highly integrated nature of our management system. By presenting financial and non-financial corporate goals in the dimensions of finance, strategy, customers and society, environment and employees, we are seeking to promote integrated thinking within the company and emphasise the importance of being comprehensively oriented towards performance and our stakeholders. We measure the achievement of our goals using key performance indicators.

The identification of key themes for our reporting is anchored in the materiality analysis process. All topics that are material from a strategic and sustainability perspective, as well as those that are discussed internally in the management bodies and covered in our external communication, have been accounted for in the Integrated Annual Report.

Important aspects for reporting in 2020

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Against the background of the EU Green Deal and the tightening of the emissions reduction targets, we are acutely aware of our corporate responsibility. Therefore, we have already decided this year to expand our integrated reporting to disclose some of the information that will be obligatory in future according to the EU Taxonomy Regulation. Accordingly, we are publishing details that will be required in future on revenue, capital expenditure (capex) and operating expenses (opex) from environmentally sustainable activities based on the Taxonomy Regulation in the version from 22 June 2020 and the technical screening criteria in the draft delegated act for the Taxonomy Regulation for the environmental objective of climate protection of 20 November 2020, as well as additional information on adjusted EBITDA. In the first stage carried out in the reporting year, we focused on the two segments Renewable Energies and Grids.

We have already been active in the past in supporting further developments in reporting, for example, within the framework of the IIRC and in the Task Force on Climate-related Financial Disclosures (TCFD).

We will also strive in future years to continuously improve our integrated reporting. Our plans for 2021 thus include the continuous further development of the content of this report in accordance with the requirements for a non-financial declaration and the disclosures recommended by the TCFD. In the coming years, we plan to expand the reporting for the EU taxonomy to all Group activities and segments.