2Reporting Practices and Basis for Preparation
GRI 2-2: Entities included in the organization’s sustainability reporting
GRI 2-3: Reporting period, frequency and contact point
GRI 2-4: Restatements of information
GRI 2-5: External assurance
The Cicor Sustainability Report for the fiscal year 2024 (1 January 2024 to 31 December 2024), outlines non-financial information in compliance with Art. 964b of the Swiss Code of Obligations. The Company has integrated essential aspects of the GRI Sustainability Reporting Standards and the Task Force on Climate-related Financial Disclosures (TCFD) into the reporting framework, ensuring a unified approach towards transparent disclosure practices. Cicor publishes this report annually as part of its Annual Report. The Annual Report provides detailed information in various sections, including the Management Report, Sustainability Report, Corporate Governance Report, Remuneration Report, and Financial Report. The previous report was published in March 2024 as a supplement to the Annual Report 2023. No restatements have been made for previously reported data. Unless otherwise specified, the statements and key figures in this report refer to the fiscal year 2024. To help the reader identify and interpret trends relating to qualitative disclosures, this report includes data from at least the 2023 and 2024 fiscal years, where relevant. If not stated otherwise the 2024 Sustainability Report includes data from all Cicor Group Company’s as of 31 October 2024. Data relevant to Nordic Engineering Partner AB, which became a part of Cicor Group in November 2024, are not included in this Sustainability Report. It is planned that the company will be fully implemented in the Cicor sustainability reporting structure for the fiscal year 2025. As for this years Sustainability Report the Company has improved its reporting strucutre by creating higher data transparency and accuracy. If not stated otherwise no changes in the calculation methodology has been made.
2.1 Sustainability Anchored Across Corporate Governance Structure
GRI 2-9: Governance structure and composition
GRI 2-12: Role of the highest governance body in overseeing the management of impacts
GRI 2-13: Delegation of responsibility for managing impacts
GRI 2-14: Role of the highest governance body in sustainability reporting
GRI 2-16: Communication of critical concerns
GRI 2-17: Collective knowledge of the highest governance body
TCFD: Governance
The company aims to share a strong framework along environmental, social and governance topics. Together with its business partners, the Company plays a collaborative role in supporting a sustainable future ahead. Sustainability is anchored across the Company’s corporate governance structure and cascaded through the organisation. Environmental, social and governance topics are closely monitored by Cicor Group Compliance, including regular risk assessments, establishment of internal controls and documentation of data.
Cicor prioritises sustainability at every level of the organisation. As part of the Cicor 2028 strategy, sustainability has become an increasingly integral focus of the Board of Directors. Progress toward sustainability goals is reviewed regularly by both the Board of Directors and senior management. Furthermore, Cicor’s due diligence for non-financial matters encompasses a broad spectrum of social and governance aspects, all of which are subject to approval by the Board of Directors.
The Board of Directors remains accessible to address stakeholder and shareholder concerns. Issues raised during the Annual General Meeting are managed in accordance with the Articles of Association. In 2024, no significant concerns were brought directly to the Board of Directors outside of the Annual General Meeting. For further details on governance arrangements, please refer to the Corporate Governance Report.
KMPG has provided independent limited assurance on selected sustainability information. The assurance report is published at the end of this report and contains further information. Each indicator which was part of the limited assurance is marked with a blue checkmark.