Sweden pioneers a global first in sustainability reporting

3 December 2007

Amsterdam

All 55 state owned companies in Sweden have to file an annual sustainability report based on the Global Reporting Initiative (G3) Guidelines before the 31 March each year from 2009, the Swedish Government announced today.

In a bid to improve the sustainability performance of state owned companies and ensure the effective and transparent use of public money, the Swedish Government has been the first government in the world to introduce such sustainability reporting measures.

“GRI welcomes the leadership of the Swedish Government in giving priority to sustainability reporting.  In using the GRI G3 Sustainability Reporting Guidelines, Swedish state-owned companies will have at once an excellent internal management tool and the most widely recognized external reporting framework.  The users of the information will have a more informed assessment of these companies’ performances.  It will also enhance their brand, reputation, marketplace differentiation from other companies and will give them a competitive edge over companies not reporting.  The international market is now rewarding companies which report on the impacts their operations have on the economic life of the community in which they operate”, said Mervyn King, Chairman of the GRI Board of Directors.

Vattenfall, which is fully owned by the Swedish State, is one of around 25 Swedish companies that already use the GRI Guidelines, the world’s most widely used sustainability reporting framework: “At Vattenfall sustainability reporting has added significant value to the business as a means to demonstrate our commitment to sustainability and as an internal management tool” said Lars Josefsson, CEO. ”The GRI guidelines that we have used in our reporting since 2003, are an excellent tool for us to communicate our results related to sustainability to our stakeholders”. 

NOTES

1.  About GRI

The Global Reporting Initiative’s (GRI) vision is that reporting on economic, environmental, and social performance by all organizations becomes as routine and comparable as financial reporting. GRI accomplishes this vision by developing, continually improving, and building capacity around the use of its Sustainability Reporting Framework. An international network of thousands from business, civil society, labor, and professional institutions create the content of the Reporting Framework in a consensus-seeking process. GRI’s Reporting Framework is largely seen as the global de facto standard in sustainability reporting.

Find out more at: www.globalreporting.org

2. Swedish Ministry of Enterprise, Energy and Communications
The Swedish Government Office administers 55 companies/groups, of which 41 are wholly owned and 14 partly owned by the state. A total of approx. 190 000 people are employed in these companies. The state is the largest owner on the Stockholm Stock Exchange.  Other examples of state owned companies include Telia Sonera, a telecommunications provider; Svenska Spel, a gaming company; and SJ, Swedish railways.

State owned companies can in principle be divided into two groups: companies operating under market conditions and companies that primarily have special societal interests to fulfill. The group of companies operating under market conditions also includes the listed companies. The total value of the companies administered is assessed at around SEK 675 billion.

For further information on the Swedish Ministry of Enterprise, Energy and Communications: http://www.sweden.gov.se/sb/d/2067

3. About Vattenfall

Vattenfall’s vision is to be a leading European energy company. Vattenfall’s main products are electricity and heat. Today, Vattenfall generates electricity, produces heat and supplies energy to several million customers in the Nordic countries and northern Europe. The major customers are industrial plants, energy companies, municipalities, property companies and housing associations. For further information, please see www.vattenfall.com.

Find out more at: http://www.vattenfall.com/

4.  Inquiries

Katherine Miles, Communications Coordinator

Email: miles@globalreporting.org

Telephone: +31 (0)20 531 0033

www.globalreporting.org