Franck, a prominent Croatian company operating in the food and beverage industry, has embarked on a journey to integrate sustainability into its core operations. CorpStage has conducted a detailed evaluation of Franck’s Sustainability Report for 2020 – 2021.
Corpstage’s assessment of Franck’s sustainability report followed a rigorous and comprehensive methodology, “Measuring Stakeholder Capitalism Towards Common Metrics and Consistent Reporting of Sustainable Value Creation” framework by the World Economic Forum’s International Business Council (IBC), ensuring an objective and data-driven evaluation. The assessment process involved stakeholder engagement, data verification, benchmark analysis, and gap analysis. Stakeholder engagement included interviews with key stakeholders to gather insights and expectations. Data verification ensured the accuracy and completeness of the report’s information. Benchmark analysis compared Franck’s sustainability practices against industry best practices and international standards. The gap analysis identified areas of strength and potential improvement in Franck’s sustainability efforts and reporting. The assessment provided a foundation for recommendations to enhance Franck’s sustainability performance and reporting.
Franck demonstrated a strong commitment to responsible sourcing and supply chain management, supporting local suppliers and promoting sustainable agricultural practices. The report highlighted Franck’s robust food safety and quality management systems, ensuring compliance with regulations and industry standards. Franck also implemented initiatives to reduce waste generation, increase recycling, and explore circular economy principles. The company prioritized employee well-being, diversity, and inclusion, while also investing in professional development programs. Franck demonstrated its commitment to supporting local communities through various social responsibility initiatives, focusing on education, health, and environmental protection. These findings showcase Franck’s efforts in sustainability across different areas of its operations.
Franck’s sustainability report received positive recognition from Corpstage for its responsible sourcing, food safety, waste management, employee well-being, and community engagement. However, areas for improvement include energy and emissions management such as emission data for Scope 3 emission, water stewardship, and setting specific, measurable targets for transparency and accountability purposes.
Another area is to implement regular stakeholder consultations, surveys, and feedback mechanisms to ensure a more inclusive approach to sustainability and address stakeholder concerns effectively. And to set clear targets for key sustainability metrics, track progress against these targets, and engage stakeholders for feedback to strengthen transparency and accountability in sustainability reporting. These recommendations aim to enhance Franck’s sustainability efforts and reporting.
Corpstage’s independent assessment of Franck’s 2020-2021 sustainability report highlighted the company’s commitment to sustainable business practices and responsible operations within the food and beverage industry. The assessment provided valuable insights into Franck’s sustainability performance, identified areas of excellence, and outlined opportunities for further improvement. By addressing the recommended areas for enhancement, Franck can continue to strengthen its sustainability efforts, minimizing its environmental footprint, and solidifying its position as a responsible corporate citizen within the Croatian market and beyond.