Annual Report 2020

About this report

The aim of this Annual Report is to inform our stakeholders about our financial and non-financial developments during the 2020 calendar year. It also presents our performance in relation to material topics. These are topics that are determined in conjunction with our stakeholders. Material topics provide the boundary of our non-financial reporting. The process for defining materiality, the content of this integrated Annual Report and a full list of material topics are described in the materiality determination.

Scope of non-financial information

The purpose of this Annual Report is to inform our stakeholders of our positive and negative impacts on economic, social and environmental developments. In the report, we disclose our impact in connection with our main strategic objectives and targets.

The scope of the non-financial report is determined based on the identified material topics.

The materiality matrix shows the topics’ importance to stakeholders and their importance to GrandVision. Topics that are most important to our stakeholders and form our business perspective are included in this report. It covers the 2020 fiscal year, which ran from 1 January to 31 December, 2020.

The scope of our ESG performance includes all entities for which GrandVision holds management responsibility. Unless stated otherwise, the scope of our ESG data encompasses all GrandVision’s activities. This means subcontractors are not included.

Reporting criteria non-financial information

This integrated Annual Report was published on 9 March, 2021.

GrandVision reports on CSR in accordance with the GRI Standards 'Core' version of the Global Reporting Initiative (GRI). Worldwide, these are the most commonly-applied reporting guidelines. GRI is based on the principle of materiality and requires organizations to disclose their management approach to their most material topics. For further details about these guidelines, please refer to the 'GRI Content Index' section in this report. General information about GRI can be found at

The option core of the GRI Standards means that GrandVision reports on all general standard disclosures and a minimum of one specific standard disclosure relates to identified material topics. The process for defining material topics, is described in the 'Materiality and stakeholder communication' section of this report.

The results of this assessment (list of material topics for GrandVision, including their reporting priority) determine which GRI indicators are set out in the integrated report. The overview can be found in the 'GRI Content Index' section of this report. The GRI Content Index specifies the aspect boundaries and omitted indicators where relevant (including clarifications).

Apart from GRI, a voluntary guideline, GrandVision is legally required to report on specific topics related to non-financial and diversity information. This is part of the EU Directive Non-Financial Reporting, with which we comply.

No assurance on non-financial data is given in 2020.

Our emission scopes

Split by scopes

Business operations




Scope 1

Store network (gas)



kilotons CO2

Manufacturing sites (gas)



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Scope 2

Store network (electricity)



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Manufacturing sites (electricity)



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Scope 3

Air travel



kilotons CO2

Rail travel



kilotons CO2

Employee commuting



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Inbound transport



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Outbound transport



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kilotons CO2

We report on our carbon emissions in line with the GHG Protocol Corporate Standard, which classifies a company's GHG emissions into three 'scopes.'

  • Scope 1: Direct emissions from owned or controlled sources
  • Scope 2: Indirect emissions from the generation of purchased energy
  • Scope 3: All indirect emissions that occur in the value chain, including both upstream and downstream emissions

In 2020, we saw a decrease in both our Scope 2 and 3 emissions. The decrease in Scope 2 was mainly driven by temporary store closures, as well as an increased use of renewable electricity across our store network and at our manufacturing sites (25.9%). The decline in Scope 3 emissions mainly resulted from reduced employee commuting and business travel.