Symrise, one of the largest producers of fragrances and flavors in the world, has chosen DQS as its partner for external assurance over its GRI sustainability report. After one month of analysis and critical review, we have now issued the final assurance statement.
Third-party assurance is an increasingly popular way to safeguard the credibility and accuracy of sustainability reports. Having published an annual sustainability report since 2006, Symrise has now decided to take transparency to the next level by submitting its report to DQS – with good result.
The Assurance Process
The model Symrise uses for its reporting is the G4 framework of the Global Reporting Initiative (G4). For the actual assurance, DQS relied on the AA1000 Assurance Standard, a publicly available standard for third party verification. The assurance audit was conducted in accordance with a Type 2 assurance, which consists of:
- Evaluating the company’s sustainability framework and processes using the inclusivity, materiality and responsiveness criteria of the AA1000 AccountAbility Principles (AA1000APS 2008), and
- Evaluating the quality of the reported sustainability performance information.
The assurance encompassed the entire report and focused on all figures, statements and claims related to sustainability during the reporting period January 2014 to December 2014, as well as historical figures where relevant.
Outcome: The Assurance Statement
On the basis of the methodology described above, our audit team has concluded that the report provides a credible and fair representation of Symrise’s sustainability profile, and that the statements and figures achieve an adequate level of reliability and accuracy.
Dr. Helmut Frieden, Vice President Corporate Sustainability at Symrise, was understandably happy with the result: “Symrise has been publishing sustainability reports since 2006. During this period, we have been continually improving the reporting process, reaching the GRI Level A. External verification was the next logical step for us, which provides extra assurance for all our stakeholders.
We chose DQS as a third party because we have been able to improve our processes and management systems by working with them since 1992. On top of that, DQS has also been evaluating the sustainability performance of our sites abroad for years.”
The full sustainability report is available online and can be viewed here.
Symrise develops, produces and sells fragrances and flavors as well as cosmetic active ingredients and raw materials and functional ingredients. Its sales of € 1.830 billion in 2013 and a global market share of approximately 11 % place Symrise among the top four companies in the global flavors and fragrances market. Headquartered in Holzminden, Germany, the Group is represented in 35 countries in Europe, Africa, the Middle East, Asia, the United States and Latin America.