TAQA Morocco is publishing, in 2020, its first ESG report for the 2019 fiscal year. This report, dedicated to our environmental, social and governance performance, meets the requirements of AMMC circular 03-19.
We have included in this report some voluntary information. All the informational requirements relating to circular 03-19 of the Moroccan Capital Markets Authority (AMMC) are exhaustively documented.
This report exceeds the rules for compliance requirements set forth by the AMMC by including informational elements contained in the GRI Standards. In that respect, this report is a transition In that respect, this report is a transition towards a report that complies with the core requirements of GRI Standards for the next fiscal year.
This report also includes a model for capital transformation that complies with the recommendations of the International Integrated Reporting Council (IIRC). In that respect, we have provided a description of the TAQA Morocco economic model based upon that framework and relying upon the “six types of capital (financial, industrial, intellectual, human, business and relationship, and natural)” as Inputs and converted into Outputs/Outcomes via business activity.
The diagram of the business (or economic) model of a business helps to visually convey the different capital types as inputs, outputs and results and links them to the relevant Sustainable Development Goals (SDG).
How do we create value?
Another innovation of this report is the restitution of the TAQA Morocco risk-management model.
With these elements, we have integrated the primary best practices for ESG reporting in our first ESG Report, based on the idea that our stakeholders (investors, regulators, clients, suppliers…) have the right to access qualitative information on our value-creation model.
This report has not been the subject of external verification. This report relates to the fiscal year that closed on December 31, 2019 and all the data contained hereon relate to that period.
However, we have included a section on the global health crisis of Covid-19, which was declared to be a pandemic on March 11, 2020 by the World Health Organization. We explain how TAQA Morocco has organized the continuity of its business operations and has been part of the resulting display of national solidarity.
In detailed fashion, and where the report does not refer to the 2019 fiscal year, TAQA Morocco has specified the reference date for the data reported, and where a specific piece of data was not available, the AMMC index, a major innovation of this report, documents the Comply or Explain option. With the help of an external firm, Disklosure IT, our index contains, in addition to the AMMC, a correspondence with the GRI, SDG and United Nations Global Pact.
The TAQA Group in the world
The report relates exclusively to the activities of TAQA Morocco and JLEC 5 & 6. No other activity besides that of TAQA Morocco and JLEC 5 & 6 is included in this report. The key performance indicators presented thus relate to the activities pursued. The financial data on the business were extracted from the 2019 management report and have not been modified.
• Any comments on our sustainable development report and on our ESG policy are welcome and may be sent to this address: firstname.lastname@example.org
TAQA Morocco is, going forward, committed to the annual production of a sustainability report.
No mergers or acquisitions were carried out during fiscal year 2019 in relation to prior years. No change in the nature of the business activities or in the methods of measuring indicators took place.
TAQA Morocco has established an organizational process that enables it to entrust ESG leadership to the Communication Division. However, the identification and prioritization of issues were determined by an Executive Committee, ensuring that all relevant issues were covered.
Stages followed for the creation of the ESG Report
The present report was designed according to AMMC requirements and through the implementation of several authoritative international benchmark recommendations for ESG reporting.