About this report
This integrated annual report covers activities that took place in or had an effect on the reporting year. The report covers the period from 1 January 2023 to 31 December 2023 and was published on 22 March 2024 on FMO’s website. The Annual General Meeting of Shareholders (AGM) is scheduled to be held on 24 April 2024.
This copy of the annual financial reporting of FMO for the year ended 31 December 2023 is not presented in the ESEF-format as specified in the Regulatory Technical Standards on ESEF (Delegated Regulation (EU) 2019/815). The ESEF single reporting package is available on FMO's website.
The report is accompanied by one supplemental report: FMO's disclosure in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). This is not part of the assurance scope.
Presentation of information
This annual report of Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) has been prepared in accordance with the International Financial Reporting Standards as adopted by the European Union (IFRS-EU), and with Title 9 of Book 2 of the Dutch Civil Code. In addition, the non-financial information in this report has been prepared in accordance with the GRI Standards and by following the principles of the Integrated Reporting Framework. Furthermore, the annual report includes a disclosure on FMO's commitment to the Principles for Responsible Banking (PRB).
The Board Report consists of the chapters 'At a glance', 'Report of the Management Board', 'Report of the Supervisory Board', 'Corporate governance', 'Risk management', 'Materiality assessment and stakeholder engagement', 'External commitments', 'EU Taxonomy' and 'How we report'.
We strive to report transparently on our strategy, the way we implement it to create value for our stakeholders and the dilemmas we face along the way. The report provides a comprehensive overview of our financial and sustainability performance. Our reporting approach for the sustainability information is described in the chapter ‘How we report’.
Material topics
The materiality assessment is a formal process that aids FMO in identifying and assessing our impacts on the economy, environment, and people, and determining the organization’s material topics. The result of the assessment helps us decide what information to disclose in our annual report. The assessment further serves as input for our stakeholder dialogues and strategic plans. A detailed description of the approach and results are provided in the chapter ‘Materiality assessment and stakeholder engagement'.
External assurance and audit
We have engaged Ernst & Young Accountants LLP to audit the consolidated and company financial statements, to perform a review of the sustainability information in specific chapters in scope, and to audit selected elements of this report. The scope, procedures, findings and conclusions from this engagement are summarized in the 'Independent auditor's report' and 'Assurance report of the independent auditor'.