5. Responsibility

Accountability within the company’s management with regard to sustainability is disclosed.

Not relevant since we are a company of two people. Both of us bear the responsibility for both the company and personal actions.

6. Rules and Processes

The company discloses how the sustainability strategy is implemented in the operational business by way of rules and processes.

To make the economy more sustainable is the mission of Fair Venture. Every part of our work is based on improving the situation in this matter. To ensure the sustainability of our own activities we have two rules: 

1) If possible, we prefer public transport. 
2) We never provide consultations and/or services which lead to negative impacts on society or the environment. 

We plan to write down a code of conduct to set a standard for future employees and inspire our clients.

7. Control

The company states how and what performance indicators related to sustainability are used in its regular internal planning and control processes. It discloses how suitable processes ensure reliability, comparability and consistency of the data used for internal management and external communication.

For the year 2019, we plan to measure
-distance traveled by car on business trips
-related GHG emissions.
-amount of non-recycled and recycled paper used for our operation.   It is going to be calculated according the indicators presented by GRI Standards to ensure comparability and consistency

Key Performance Indicators to criteria 5 to 7

Key Performance Indicator GRI SRS-102-16: Values
The reporting organization shall report the following information:

a. A description of the organization’s values, principles, standards, and norms of behavior.

Fair Venture´s highest value is sustainability. We don't just deliver it to our clients but also live it by ourselves. Therefore, we are not only consultants but also an inspiration. 
At this moment we do not have any written principles, standards or norms. Anyway, we behave as environmentally friendly as possible by our values.

8. Incentive Systems

The company discloses how target agreements and remuneration schemes for executives and employees are also geared towards the achievement of sustainability goals and how they are aligned with long-term value creation. It discloses the extent to which the achievement of these goals forms part of the evaluation of the top managerial level (board/managing directors) conducted by the monitoring body (supervisory board/advisory board).

Not relevant since only two people involved in Fair Venture are co-owners at the same time.

Key Performance Indicators to criteria 8

Key Performance Indicator GRI SRS-102-35: Renumeration policies
The reporting organization shall report the following information:

a. Remuneration policies for the highest governance body and senior executives for the following types of remuneration:
i. Fixed pay and variable pay, including performance-based pay, equity-based pay, bonuses, and deferred or vested shares;
ii. Sign-on bonuses or recruitment incentive payments;
iii. Termination payments;
iv. Clawbacks;
v. Retirement benefits, including the difference between benefit schemes and contribution rates for the highest governance body, senior executives, and all other employees.

b. How performance criteria in the remuneration policies relate to the highest governance body’s and senior executives’ objectives for economic, environmental, and social topics.

Since we do not have any employees yet we did not develop an incentive system.

Key Performance Indicator GRI SRS-102-38: Annual total compensation ratio
The reporting organization shall report the following information:

a. Ratio of the annual total compensation for the organization’s highest-paid individual in each country of significant operations to the median annual total compensation for all employees (excluding the highest-paid individual) in the same country.


9. Stakeholder Engagement

The company discloses how the socially and economically relevant stakeholders are identified and integrated into the sustainability process. It states whether and how an ongoing dialogue takes place with them and how the results are integrated into the sustainability process.

Based on a discussion between the two co-owners of the company the three most important stakeholders were identified: The first is our clients and the other our external experts.
  1. Clients
  2. External experts
  3. Institution and association
At this moment we are at the beginning of the process of building a network of our clients and external experts and making partnerships with institutions and associations. Therefore, the dialogs are not advanced enough yet to make some conclusions regarding our sustainability management.

Key Performance Indicators to criteria 9

Key Performance Indicator GRI SRS-102-44: Key topics and concerns
The reporting organization shall report the following information:

a. Key topics and concerns that have been raised through stakeholder engagement, including:
i. how the organization has responded to those key topics and concerns, including through its reporting;
ii. the stakeholder groups that raised each of the key topics and concerns.

Since we were established a few months ago we do not yet identify stakeholders concerns.

10. Innovation and Product Management

The company discloses how innovations in products and services are enhanced through suitable processes which improve sustainability with respect to the company’s utilisation of resources and with regard to users. Likewise, a further statement is made with regard to if and how the current and future impact of the key products and services in the value chain and in the product life cycle are assessed.

Our two main services are consultancy and educational workshops. Both services´ main impact is caused by transportation. At this moment we do not have any alternative or the innovative way how to provide our services. We solve this situation by preference in eco-friendly transport. The fact we prefer an alternative type of transport can educate our clients in advantages and inspire them in such an action. Our external experts are asked to act according to the same policy as we do. We also avoid printing promotional materials, presentation nor emails to save paper. For the same reason, we prefer using online PR and marketing.

Key Performance Indicators to criteria 10

Key Performance Indicator G4-FS11
(report also in accordance with GRI SRS): Percentage of assets subject to positive and negative environmental or social screening.(Note: the indicator should also be reported when reporting to GRI SRS)

We do not have relevant information.