Integrated Annual Report
This integrated Annual Report combines our financial and our sustainability reporting. Our aim is to elucidate the interactions between financial, ecological and societal factors and underline their influence on our company’s long-term development, thus providing our stakeholders with comprehensive and transparent information. The consolidated financial statements of the Bayer Group as of December 31, 2016, comply with the International Financial Reporting Standards (IFRS) valid at the closing date and with the provisions of the German Commercial Code in conjunction with German financial reporting standards. With due regard to these provisions, the combined management report provides an overview of the financial position and results of operations of the Bayer Group. The Compensation Report for the Board of Management and the Supervisory Board complies with the recommendations of the German Corporate Governance Corporate governance comprises the long-term management and oversight of the company in accordance with the principles of responsibility and transparency. The German Corporate Governance Code sets out basic principles for the management and oversight of publicly listed companies. Code. The consolidated financial statements and the combined management report are published in line with statutory disclosure requirements. The Bayer Group’s sustainability reporting complies with the “comprehensive” option of the G4 Guidelines of the Global Reporting Initiative GRI (Global Reporting Initiative) is a nonprofit organization that works to promote the dissemination and optimization of sustainability reporting. The GRI guidelines are considered the most frequently used and internationally most recognized standard for sustainability reporting. These guidelines are evolved in a multi-stakeholder process. GRI was established in 1997 by Ceres (Coalition for Environmentally Responsible Economies) and UNEP (United Nations Environment Programme). (GRI) and is aligned to the 10 principles of the U.N. Global Compact (UNGC United Nations Global Compact (UNGC) The United Nations Global Compact is the most far-reaching and important responsible corporate governance initiative in the world. Based on ten universal principles in the areas of human rights, labor, environment and anticorruption, the UNGC pursues the vision of an inclusive and sustainable global economy that benefits people, communities and markets everywhere. By committing to the UNGC, companies agree to document each year their efforts to uphold the ten principles. ). The detailed GRI content index with the corresponding UNGC principles can be found in the “Further Information” section in the augmented version of the Annual Report. Online we also publish a separate PDF file with a summary of the U.N. Global Compact Progress Report based on the criteria of the Blueprint for Corporate Sustainability Leadership.
Our reporting is also aligned to international guidelines and recommendations, including those on the definition and selection of nonfinancial indicators and on reporting such as those of the OECD and the ISO 26000 standards. In selecting and measuring our key data we also take into account the recommendations of the European Federation of Financial Analysts Societies (EFFAS) in the case of nonfinancial indicators, and those of the Greenhouse Gas Protocol regarding greenhouse gas emissions. We also consider the recommendations of the World Business Council for Sustainable Development (WBCSD) and the European Chemical Industry Council (Conseil Européen de l’Industrie Chimique – CEFIC). For 2016 we will again submit a declaration of conformity with the German Sustainability Code.
The integrated Bayer Annual Report 2016 is available in a print version (“Annual Report 2016”) and in an augmented online version (“Annual Report 2016 – Augmented Version”). The online version contains the notes to the consolidated financial statements of the Bayer Group, along with additional information. The print version contains numbered online annexes which refer the reader to additional information in the Augmented Version. You can enter these numbers in a search mask on any page of the online Annual Report to directly access the annexes. Both versions of the Annual Report are available in PDF format for download from the Bayer website. For further guidance, the Annual Report contains references to other chapters, to (Bayer) websites and, in the Augmented Version, to GRI G4 Materiality Disclosures.