Connectivity table

The material topics resulting from the 2021 materiality assessment are included in the following connectivity table. This table links the material topics to our strategy, key performance indicators, targets, and performance as well as the sections in this annual report that cover each topic. The topics requiring further attention from FMO, as concluded by the recent materiality assessment, are highlighted in the table by an asterisk (*).

Mission: We empower entrepreneurs to build a better world Strategy: Be the preferred partner to invest in local prosperity
Material topic	Contributing to SDG	Key performance indicator	2021 performance	2021 target	2020 performance
Higher impact portfolio
Contributing to decent work and economic growth	SDG 8	Total committed portfolio - FMO¹	8,338	8,837	8,166
		New investments - FMO^1,2	1,184	1,470	1,259
		Jobs supported (nr. of jobs)³	644,119		672,492
Reducing inequality - focus on fragile states*	SDG 10	Reducing Inequality-labelled committed portfolio	4,020	3,970	3,758
Reducing inequality - focus on fragile states*	SDG 10	Reducing Inequality-labelled new investments	714	596	745
Combating climate change and its impacts*	SDG 13	Green-labelled committed portfolio	4,118	4,293	3,869
		Green-labelled new Investments	544	592	466
		Financed avoided GHG emissions (tCO₂e)	1,329,158		1,577,816
		Financed absolute GHG emissions (tCO2e)³	5,355,185		4,962,939
Promoting women's economic empowerment*	SDG 5	Gender-line financing	216		151
Promoting ESG best practices	SDG 3, 5, 8, 10, 12, 13, 14, 15	ESG target performance (% of risks managed)	92%	90%	93%
Supporting customers to safeguard human rights*	SDG 3, 5, 8, 10, 12, 13, 14, 15	New admissible complaints received	0		1
Supporting customers to safeguard human rights*	SDG 3, 5, 8, 10, 12, 13, 14, 15	Nr. of customers in portfolio for which human rights were assessed during due diligence	281		301
COVID-19 effects / supporting economic recovery*		No indicator
Deeper relationships
Mobilizing public & private capital	SDG 17	Total committed portfolio - mobilized funds¹	2,813	2,624	2,708
		New investments - mobilized funds¹	521	363	483
		Total committed portfolio - public funds¹	1,352	1,318	1,148
		New investments - public funds¹	233	241	145
Providing capacity development		Total capacity development contracted	8.0		9.5
Investing in innovation*		No indicator
Cooperation & harmonization with other DFIs		No indicator
Ensure employee engagement, health and wellbeing*		Employee engagement score⁴	7.2	8.0	7.1
Being an inclusive organization		Gender diversity: % women in the workforce	52%	50%	50%
Being an inclusive organization		Gender diversity: % women in management positions	45%	50%	42%
Other		Customer satisfaction (NPS score)	65.5%	70%	70.2%
Higher productivity
Being a high-performing DFI		Realized delivery on project portfolio	92%	85%	92%
Measuring impact & learning from evaluations*		No indicator
Being a responsible, transparent & accountable bank*		Score in latest Transparency Benchmark	87%		76%
		Nr. of alleged employee-related integrity issues	1		1
		Nr. of alleged customer-related integrity issues	12		20
		Nr. of alleged customer-related integrity issues closed	11		24
Being compliant in a changing regulatory environment*		No indicator
Financial performance
Maintaining financial sustainability and risk appetite of FMO - with a focus on investment & country risks*		Profit & Loss account
		Operating income	565		88
		Operating expenses	114		144
		Impairments	9		-78
		Net profit/(loss)⁵	491	120	-205
		Underlying net profit/(loss)	386		-90
		Balance sheet
		Total assets (x €m)	9,303		8,998
		Shareholders' equity (x €m)	3,434		2,897
		Debentures & notes (x €m)	5,427		5,486
		Ratios at end of period
		Non Performing Loans (%)	9.5%		9.1%
		Return on average shareholders' equity (%)¹	15.5%		-6.8%
		Return on assets (%)¹	5.3%		-2.3%
		Common Equity Tier 1 (%)	22.5%		23.3%

1 This is an alternative performance measure (APM) that is not included in the financial statements and is designed for steering purposes. For a definition of this APM, please refer to the chapter ‘How we report’.
2 The 2021 target for FMO new investments has been lowered by €85 million following the transfer of NLB activities to Invest International.
3 Due to changes in the Joint Impact Model methodology, the 2020 comparative figure has been restated.
4 The 2021 result is based on an updated methodology. The 2020 comparative figure is based on the previous methodology and, therefore, not entirely comparable.
5 The 2021 target for net profit has been restated from €115 million to €120 million.