For the fifth year in a row, Symrise, one of the largest producers of fragrances and flavors in the world, has engaged DQS to provide assurance over its GRI sustainability record. After a thorough evaluation, our assessors have come to the conclusion that the Symrise Sustainability Record is a credible and comprehensive representation of the sustainability performance of Symrise.
Third-party assurance is an increasingly popular way to safeguard the credibility and accuracy of sustainability reports. With positive experiences from last years’ assurance in mind, Symrise again decided to rely upon DQS as its partner for independent review.
The assurance process
The Symrise Sustainability Record was published in accordance with the GRI Standards of the Global Reporting Initiative (GRI) published in 2016 as well as the new standards on water and wastewater (303, 2018) and occupational health and safety (403, 2018). The Sustainability Record was prepared in accordance with the GRI standards “Comprehensive” option. This means that Symrise discloses all the relevant information and is fully accountable on all essential topics. The Sustainability Report also contains a separate non-financial report in accordance with Section 289b (3) of the German Commercial Code (HGB).
For the actual assurance, the DQS team relied on the AA1000 Assurance Standard (AA1000AS 2008 with 2018 Addendum), 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 2018), 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 2018 to December 2018, as well as historical figures where relevant.
Outcome: The assurance statement
On the basis of the methodology described above, our auditor team has concluded that the report provides a credible and fair representation of Symrise’s sustainability profile, and that the statements and figures achieve the required level of reliability and accuracy.
Symrise is a global supplier of fragrances, flavorings, cosmetic base materials and substances as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food. With sales of about € 3.2 billion in 2018, Symrise is among the global leaders in the market for flavors and fragrances. Headquartered in Holzminden, Germany, the Group is represented in over 40 countries in Europe, Africa and the Middle East, Asia, the United States and Latin America.