Reporting policy

Stedin Group reports half-yearly and yearly per calendar year; the most recent report was the Stedin Holding 2022 half-year report. This annual report of Stedin Group relates to the period 1 January 2022 to 31 December 2022. It consists of the Report of the Board of Management, the Report of the Supervisory Board (including the Remuneration Report) and the financial statements. The financial information of Stedin Holding N.V. for the full year 2022 and comparative figures for 2021 are presented and accounted for in the financial statements. Figures for 2022 and comparative figures for 2018 2019, 2020 and 2021, where available, are presented and accounted for in the management report. The financial statements have been prepared in conformity with International Financial Reporting Standards (IFRS), as adopted by the EU. The Global Reporting Initiative (GRI) Standards are applicable to our non-financial performance, at comprehensive level. Stedin Group also complies with the EU Directive on disclosure of non-financial and diversity information as applicable to Public Interest Entities (PIE).

The financial information in this annual report has been consolidated for Stedin Holding N.V. and its subsidiaries. The subsidiaries Stedin, Joulz Diensten, and DNWG are consolidated in the non-financial information within Stedin Group. Discontinued operations are included for the period in which they were part of the group.

Stakeholder selection

By means of this report, we aim to inform a broad target group of stakeholders about our performance. We identify the following groups of stakeholders: customers, employees, shareholders, local environment and communities, government and regulators, investors and rating agencies, suppliers, partners and environmental organisations/NGOs. This selection is based on our analysis, according to which they have the greatest influence on our strategy and business operations and at the same time experience the greatest impact from our activities and strategic choices.

Reporting standards

For its non-financial performance, Stedin Group applies the GRI Standards at the ‘comprehensive’ level and the guidelines of the <IR> Framework of the International Integrated Reporting Council. We aim to progress continually towards structuring our report as an integrated report that meets the requirements of the <IR> Framework and the GRI Standards. Stedin Group also complies with the EU Directive on disclosure of non-financial information and diversity and the requirements under the EU Taxonomy.

The consolidated financial statements of Stedin Group have been prepared in conformity with IFRS as applicable at 31 December 2022 and as adopted by the European Union (EU) and the definitions of Part 9, Book 2 of the Dutch Civil Code. IFRS comprises both the IFRS standards and the International Accounting Standards issued by the International Accounting Standards Board (IASB) and the interpretations of IFRS and IAS standards by the IFRS Interpretations Committee (IFRIC) and the Standing Interpretations Committee (SIC) respectively.

Our value creation model is based on the six types of value, or ‘capitals’, identified by the International Integrated Reporting Council (IIRC).

In addition, Stedin Group complies with the regulations applying to Public Interest Entities, including the Audit Firms (Supervision) Act (Wet toezicht accountantsorganisaties, Wta). With effect from 2018, Stedin Group also voluntarily applies the Dutch Corporate Governance Code. Departures are explained.

Stedin is taking steps in the transition towards ESG reporting. Due to the ongoing implementation and development of the CSRD, the underlying definitions and the units of non-financial information included may change.

No external assurance was sought for 2022 with regard to the reliability of the non-financial information. For the 2023 financial year we will seek assurance with regard to our impact model and intend to take the first step towards assurance regarding non-financial figures that are of material relevance to Stedin.

Reporting process

The Board of Management is ultimately responsible for the integrated annual report and has delegated its preparation to a steering group. The reporting project leader is responsible for the composition of the report. The responsibility regarding content is divided between the Strategy, Communication, Finance and Risk departments. The financial and non-financial strategic KPIs are an integral part of the planning and control cycle. The results are discussed in the regular business reviews. A responsible party is designated for each topic on the basis of an accountability index. The Board of Management reviews the final version before it is submitted to the Supervisory Board.

Selection of topics

Content selection is based on the strategy including strategic themes, risks and opportunities and key performance indicators (KPIs) as defined by the Board of Management. The contents of the annual report will be partly determined in the years ahead on the basis of the materiality analysis. The topics in the 2022 materiality matrix are based on interviews held with both internal and external stakeholders.

SDGs

Stedin Group reports on the United Nations’ Sustainable Development Goals (SDGs, drawn up to make the world ‘a better place’ by 2030) that are relevant to us. We use our value creation model to show to which of these global goals Stedin Group contributes. The Impact on people and planet and United Nations’ Sustainable Development Goals sections provide insight into this (directly and indirectly) with cross-references to the relevant disclosures in the annual report.