• Value creation

Key observations:

The Report presents TVEL’s business model in the form of a diagram which describes its value creating ability. The key inputs, in terms of six capitals (which are subdivided into internal and external), are indicated (4.14 of the International <IR> Framework), and the production and business processes through which these capitals are transformed are then clearly outlined. Finally, the outputs (products and services) and the outcomes, in the form of monetary and non-monetary indicators for each capital, are summarized (4.18-4.19 of the International <IR> Framework). The Report states that the external outcomes allow TVEL to “consider the capitals more broadly than those that are owned or controlled by it”. (4.20 of the International <IR> Framework).