About this report

Scope and boundary

Reporting Period
The report is produced and published annually. The 2017 report covers the period I January to 31 December 2017.  The last year’s report was published on June 08, 2017.

Operating businesses
The report covers the activities of FFC only and does not include information about subsidiary and associated companies. The economic and social data presented in the report includes data of FFC’s manufacturing plants, marketing offices and head office, while the environmental data relates to plant sites and does not include the environmental impact of other locations except for the environmental impacts of fuel used in company vehicles. The information about the impacts of our activities – while creating value – beyond FFC operations is not discussed due to non-availability of reliable and verifiable data.

Financial and non-financial reporting
The reports include both financial and non-financial performance, risks and opportunities and information on impacts which are important to our stakeholders or which significantly influence our ability to create and deliver value with our stakeholders.

Reporting framework

Our report is a voluntary document issued in accordance with International Integrated Reporting Council (IIRC) Integrated Reporting (IR) framework, Global Reporting Initiative (GRI) GRI Standards: comprehensive option, and United Nations Global Compact (UNGC) “Ten Principles” requirements to provide stakeholders a comprehensive picture of the activities carried out to create value, value created during the year and commitments made in the economic, environmental and social spheres.

This report has been prepared in accordance with the GRI Standards:
Comprehensive option.

Report content and methodology

Report content
The contents of this report are based on the results of our engagement with stakeholders, International Integrated Reporting Council (IIRC) Integrated Reporting (IR) framework and the Global Reporting Initiative (GRI) Sustainability Reporting Standards requirements.

All material topics, which are of interest to different stakeholders and which reflect significant impacts of our activities on economy, environment, and society are included in this report.

Report methodology
The compilation of data has been done on the basic scientific measurement and mathematical calculus methods on actual basis, but in some cases where actual data is unavailable due to some reasons, different logical methodologies are used for calculations. The usage of any such method is mentioned at respective places in the report. The data measurement techniques are the same as used for previous year.

There has been no change in the reporting period, scope, boundary or measurement methods applied in the report. There are no changes that can significantly affect the comparability of data from period to period. Previous years’ figures have been regrouped / rearranged wherever found necessary to conform to this year’s classification.

Preparation of this report is part of annual reporting process subject to independent review, analysis and approval of a number of approving authorities. The report is approved by CSR Committee, the highest decision making body headed by CE&MD. FFC makes every effort to ensure the accuracy of the sustainability information contained in this report. From time to time, however, figures may be updated. The online PDF version of the sustainability report will be considered the most current version and takes precedence over any previously printed version. The online PDF as well as HTML version can be assessed at https://ffc.com.pk/sustainability/.

Independent external review

The report was externally reviewed by ­­­­­BSD Consulting, an independent reviewer, in order to check compliance with IR framework, GRI Standards and principles of inclusiveness, materiality and responsiveness. The senior executives were involved in the review process through involvement in selection of the reviewer, discussing and responding to reviewer’s observations and providing management representations.   The statement of the independent external reviewer describing the activities carried out and the expression of opinion is provided on the page 70.

Board’s responsibility

Board of Directors’ Statement

The Board acknowledges its responsibility to ensure integrity of this integrated report, which in Board’s opinion, addresses all material issues and presents Company’s integrated performance in accordance with Regulatory Framework, Sustainability Reporting Standards and Integrated Reporting Framework.

PERFORMANCE HIGHLIGHTS 2017