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.
We are reporting on fiscal 2015 and thus refer to the organizational structure that was in place until December 31, 2015. Exceptions are those chapters in the Management Report which discuss forward-looking issues – strategy, targets and key performance indicators – as well as the Report on Future Perspectives and on Opportunities and Risks. These are aligned to the organizational structure as of January 1, 2016, which is described in Chapter 1.2 “Corporate Structure.”
The consolidated financial statements of the Bayer Group as of December 31, 2015, 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. The combined management report complies with these requirements and 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 Code. The consolidated financial statements and the combined management report are published in line with statutory disclosure requirements.
The Bayer Group‘s sustainability reporting is aligned to the guidelines of the Global Reporting Initiative (GRI) and the 10 principles of the U.N. Global Compact (UNGC). In fiscal 2015, we applied the GRI G4 Guidelines in compliance with the “comprehensive” option for the first time. The detailed GRI content index with the corresponding UNGC principles can be found in the “About this Report” section in the augmented version of the Annual Report. Online only, 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 (CEFIC). This year we will again submit a declaration of conformity with the German Sustainability Code.
The integrated Bayer Annual Report 2015 is available in a print version (“Annual Report 2015”) and in an augmented online version (“Annual Report 2015 – 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 as PDF files in the Download Center.
For further guidance, the Annual Report contains references to other chapters, to (Bayer) websites and, in the Augmented Version, to GRI G4 materiality disclosures.