4.7Report of the independent third party on the consolidated Non-Financial Information Statement included in the management report
This is a free translation into English of the Independent Third-Party’s report issued in French and is provided solely for the convenience of English-speaking readers. This report should be read in conjunction with, and construed in accordance with, French law and professional standards applicable in France.
In our capacity as an Independent Third Party, member of Mazars Group, statutory auditors of Rubis Group and accredited by COFRAC Inspection under number 3-1058 (scope of accreditation available on www.cofrac.fr), we carried out work aimed at formulating a reasoned opinion that expresses a limited level of assurance on the historical information (observed and extrapolated) of the consolidated extra-financial performance statement, prepared in accordance with the entity’s procedures (hereinafter the “Statement") for the financial year ended December 31, 2021 (hereinafter respectively the "Information" and the "Statement"), presented in the management report of the group in application of the provisions of Articles L. 225-102-1, R. 225-105 and R. 225-105-1 of the Commercial Code.
Based on the procedures we performed, as described in the "Nature and scope of our work” and the evidence we collected, nothing has come to our attention that causes us to believe that the consolidated non-financial statement is not presented in accordance with the applicable regulatory requirements and that the Information, taken as a whole, is not presented fairly in accordance with the Guidelines, in all material respects.
Without contradicting the conclusion expressed above and in accordance with the provisions of Article A. 225-3 of the French Commercial Code, we make the following comments:
- •hazardous waste, consolidated VOC emissions, quantities of water used and treated, and discharges into water by the JV Terminal are published with one year lag: the published values correspond to the fiscal year 2020, for all sites in France, Antwerp, Rotterdam and Dörtyol (Turkey).
Preparation of the non-financial performance statement
The absence of a generally accepted and commonly used framework or established practices on which to base the evaluation and measurement of the Information permits the use of different, but acceptable, measurement techniques which may affect comparability between entities and within the time.
Consequently, the Information must be read and understood with reference to the entity’s procedures (hereinafter the “Guidelines”), the significant elements of which are presented in the Statement.
Restrictions due to the preparation of the Information
As precised in the Statement, the Information may contain inherent uncertainty in the state of scientific or economic knowledge and the quality of the external data used. Some information is sensitive to the methodological choices, assumptions and/or estimates used for their preparation and presented in the Statement.
The entity’s responsibility
- •selecting or setting appropriate criteria for the preparation of the Information;
- •preparing the Statement with reference to legal and regulatory requirements, including a presentation of the business model, a description of the principal non-financial risks, a presentation of the policies implemented considering those risks and the outcomes of said policies, including key performance indicators and also, the Information required by Article 8 of Regulation (EU) 2020/852 (EU Taxonomy);
- •and implementing internal control procedures deemed necessary to the preparation of information, free from material misstatements, whether due to fraud or error.
Responsibility of the Independent Third Party
Based on our work, our responsibility is to provide a report expressing a limited assurance conclusion on:
- •the compliance of the Statement with the requirements of article R. 225-105 of the French Commercial Code;
- •the fairness of Information (observed or extrapolated) provided in accordance with article R. 225 105 I, 3° and II of the French Commercial Code, i.e., the outcomes, including key performance indicators, and the measures implemented considering the principal risks (hereinafter the “Information”).
As it is our responsibility to express an independent conclusion on the Information as prepared by management, we are not permitted to be involved in the preparation of the Information, as it could compromise our independence.
- •the entity’s compliance with other applicable legal and regulatory requirements (in particular with regard to the Information required by Article 8 of Regulation (EU) 2020/852 (green taxonomy), the due diligence plan and the fight against corruption and tax evasion);
- •the truthfulness of the Information provided for in Article 8 of Regulation (EU) 2020/852 (EU Taxonomy);
- •the compliance of products and services with applicable regulations.
Regulatory provisions and applicable professional standards
The work described below was performed with reference to the provisions of articles A. 225-1 et seq. of the French Commercial Code, as well as with the professional guidance of the French Institute of Statutory Auditors (“CNCC”) applicable to such engagements and with ISAE 3000(3) (revised).
Independence and quality control
Our independence is defined by the requirements of article L. 822-11-3 of the French Commercial Code and the French Code of Ethics (Code de déontologie) of our profession. In addition, we have implemented a system of quality control including documented policies and procedures regarding compliance with applicable legal and regulatory requirements, the ethical requirements and the professional doctrine of the French National Association of Statutory Auditors.
Means and resources
Our work was carried out by a team of 6 people between December 2021 and April 2022 and for 6 weeks.
We conducted about 10 interviews with the people responsible for preparing the Statement, representing in particular the CSR and Compliance department.
Nature and scope of our work
We planned and performed our work considering the risks of significant misstatement of the Information.
We are convinced that the procedures we have carried out in the exercise of our professional judgment enable us to provide a limited assurance conclusion:
- •we obtained an understanding of all the consolidated entities’ activities and the description of the principal risks associated;
- •we assessed the suitability of the criteria of the Guidelines with respect to their relevance, completeness, reliability, neutrality and understandability, with due consideration of industry best practices, when appropriate;
- •we verified that the Statement includes each category of social and environmental information set out in article L. 225 102 1 III as well as information regarding compliance with human rights and anti-corruption and tax avoidance legislation;
- •we verified that the Statement provides the Information required under article R. 225-105 II of the French Commercial Code, where relevant with respect to the principal risks, and includes, where applicable, an explanation for the absence of the Information required under article L. 225-102-1 III, paragraph 2 of the French Commercial Code;
- •we verified that the Statement presents the business model and a description of principal risks associated with the entity’s activity all the consolidated entities’ activities, including when relevant and proportionate, the risks associated with their business relationships, their products or services, as well as their policies, measures and the outcomes thereof, including key performance indicators associated to the principal risks;
- •we referred to documentary sources and conducted interviews to:
- •assess the process used to identify and confirm the principal risks as well as the consistency of the outcomes, including the key performance indicators used, with respect to the principal risks and the policies presented, and
- •corroborate the qualitative information (measures and outcomes) that we considered to be the most important presented in Appendix 1. Concerning the related risk related to climate change, our work was carried out on the consolidating entity, for the others risks, our work was carried out on the consolidating entity and on a selection of entities;
- •we verified that the Statement covers the scope of consolidation, i.e., all the consolidated entities in accordance with article L. 233-16 of the French Commercial Code within the limitations set out in the Statement;
- •we obtained an understanding of internal control and risk management procedures implemented by the entity and assessed the data collection process to ensure the completeness and fairness of the Information;
- •for the key performance indicators and other quantitative outcomes that we considered to be the most important presented in Appendix, we implemented:
- •analytical procedures to verify the proper consolidation of the data collected and the consistency of any changes in those data,
- •tests of details, using sampling techniques, in order to verify the proper application of the definitions and procedures and reconcile the data with the supporting documents. This work was carried out on a selection of contributing entities(4) and covers between 21 and 84% of the consolidated data selected for these tests;
- •we assessed the overall consistency of the Statement based on our knowledge of all the consolidated entities.
The procedures performed for a limited assurance engagement are less extensive than those required for a reasonable assurance engagement performed in accordance with the professional doctrine of the French Institute of Statutory Auditors (“CNCC”). A higher level of assurance would have required more extensive verification work.
Appendix 1: Information considered the most important
- •Total number of employees at the end of the period, male/female breakdown;
- •Absenteeism rate;
- •Number of hours of training, including safety training;
- •Workplace accident frequency rate;
- •Number of work-related illness;
- •Energy consumption;
- •VOC emissions;
- •CO2 emissions;