Axel Hesse Bücher

In 21 unterhaltsamen Erzählungen erfährt der Leser von einer kleinen Welt am Rande des Landes, in der es einfach und persönlich, eigentümlich und skurril zugeht.

This paper is a follow-up study that analyses and evaluates the audited parts of the management reports / annual reports 2007 of major European automobile companies. Main focus is the analysis and evaluation of appropriate reporting of climate change related risks and uncertainties. The annual reports were analysed with respect to whether they meet the requirements of the Directive 78/660/EEC and whether financial and non-financial key performance indicators relevant to particular businesses were included. It takes only into account the parts which were audited by accountants. The information provided by the annual reports was evaluated by the author with ratings from [1] (very useful for investors) to [6] (not useful at all for investors). The evaluation has shown that the information provided in the annual reports 2007 is still not sufficient for analysts and investors to fully evaluate the financial and nonfinancial risks and opportunities caused by climate change impacts on the automobile industry sector. The average quality of reporting increased by marginal 0.4 evaluation points in comparison to the 2006 reports. In comparison the results of this year's study indicate that German companies still report worst regarding the key performance indicator “fuel consumption”, while PSA Peugeot Citroën and Renault again received the best ratings in comparison.

This survey analyses and evaluates the annual reports 2006 – audited by accountants – of major European automobile companies concerning appropriate reporting of climate change related risks and uncertainties. The reports were analysed with respect to whether they meet the requirements of the Directive 78/660/EEC and whether financial and non-financial key performance indicators relevant to particular businesses were included. The information provided by the annual reports was evaluated by the author with ratings from [1] (very useful for investors) to [6] (not useful at all for investors). The evaluation has shown that the information provided in the annual reports is not sufficient for analysts and investors to fully evaluate the financial and non-financial risks and opportunities caused by climate change impacts on the automobile industry sector. The results of the study indicate that German companies report worst regarding the performance indicator “fuel consumption”, while PSA Peugeot Citroën and Renault received the best ratings in comparison.