Standards and reporting guidelines

This report has been prepared according to the legal requirements of section 2:391 of the Dutch civil code and the Dutch legal guidelines for management board reports, RJ 400. We have used the Integrated Reporting framework to describe how we create value for our stakeholders through our strategy aimed at being the preferred partner to invest in local prosperity. In the context of the external environment and our business model we describe how we are steering the organization and what this means to our achieving this strategy in practice.

We apply the Global Reporting Initiative’s (GRI) fourth-generation sustainability reporting guidelines (G4) and the specific financial sector guidelines and have chosen to report in accordance with the ‘Core’ option. The Board Report consists of chapters ‘At a glance’, ‘Report of the Management Board’, ‘Corporate Governance’ and ‘How we report’.

The European Parliament has adopted an EU directive that requires eligible organizations and all banks to disclose non-financial and diversity information from the end of 2016. We have incorporated the elements of this Directive in this report. Please refer to the reference table ( to find the relevant information.

Materiality determination process

One of the fundamental concepts of integrated reporting is materiality. As part of an ongoing process to further develop our strategy and ensure that our reporting reflects the most material developments and issues we undertook a materiality analysis in 2015. GRI defines material topics as those aspects that reflect the organization’s significant economic, environmental and social impacts or that substantively influence the assessments and decisions of stakeholders.

FMO used the issues raised by stakeholders in previous engagements as a starting point for identifying the material topics. Other commonly applied reporting guidelines as well as reporting by peers and other financial institutions were also considered. In total 28 matters were considered. To validate the developments and issues, an online survey was conducted among key internal and external stakeholders. Based on qualitative analysis and discussions of the stakeholder input with the Management Board, eleven topics were found to be the most material.

In 2017 we updated and validated the survey held in 2015, as we did in 2016. We asked input from our stakeholders directly, using feedback collected during ongoing dialogues to see if and how stakeholder needs changed in the course of the year. We verified the outcomes by desk research and consequently reflected the outcome of the assessment in the matrix in the chapter entitled ‘External environment’. The reporting process for the 2017 integrated report was guided by our strategic priorities, in combination with and aligned to the material topics.