With the Sustainability Report on the 2018 financial year we are publishing annual information on social, environmental and governance topics within the Group for the eighth consecutive time. Our Sustainability Report was drawn up in accordance with the standards of the Global Reporting Initiative (GRI) as well as the Financial Services Sector Disclosures.
This report has been compiled in conformity with the GRI Standards: Core option. The report has not been externally audited.
With a view to satisfying the information requirements of our stakeholders and the rating agencies as comprehensively as possible, we are providing additional information above and beyond this framework. The reporting period is from 1 January to 31 December 2018. Significant developments in 2019 have been included up until the editorial deadline in October 2019. Unless otherwise indicated, the particulars refer to the entire Group. Our last Sustainability Report was published in September 2018. Further information on the topic of sustainability is published in the course of the year on our website and as a regular part of the Group Annual Report.
The present Sustainability Report reflects the issues and challenges of sustainable development that are material for us. It takes into account the requirements of stakeholders who are of major significance to our company. The fundamental principles on which the report is based are materiality, the inclusion of stakeholders, the sustainability context and comprehensiveness.
A materiality analysis was carried out in 2014 in order to identify the issues most relevant to our company; this was revisited and adjusted in 2018.
Unless otherwise stated, we report on our activities Group-wide.
Until 2015 inclusive the Group-wide headcount refers only to employees working at Group companies allocable to the operational insurance business. From 2016 onwards the employees of all companies included in the financial statement of the Hannover Re Group are counted. For this reason, the Group-wide employee numbers for 2016 are only comparable with those of previous years to a limited extent. We calculate the number of employees by headcount. In this context, we consider the consolidated group in accordance with the requirements of IFRS 10 "Consolidated Financial Statements" on the basis of a consistent consolidation model for all companies that defines control without regard to whether it arises out of company law, contractual or economic circumstances. Group companies are consolidated with effect from the date on which Hannover Re gains control over them. The total number of employees also includes trainees at the Hannover location. The designation "employee" refers solely to employees of the Hannover Re Group, not subcontractors or freelance workers.
The stated environmental indicators refer to the Hannover location (degree of coverage: roughly 43% of the worldwide workforce). We use data collected internally from various departments as well as consumption data contained in the bills received from our electricity and district heating supplier. For the purpose of determining our CO2 emissions from business travel we adopt the calculations of our service provider AirPlus and of Deutsche Bahn AG. In order to calculate the CO2 emissions from district heating we take the specific emission factors from enercity as a basis. Data for paper are provided by our supplier. For the sake of making the report more easily readable, we have avoided gender-specific duplications and instead used the masculine form throughout.