To identify and assess material sustainability topics, we perform an annual double materiality assessment where we consider our impact on the environment and society, as well as the financial and strategic risks and opportunities these topics may pose.
The assessment follows internal criteria and evaluates:
- Severity (scale, scope, and irremediability)
- Probability
Our impacts may be actual or potential, positive or negative, and occur in the short, medium, or long term. We consider sustainability topics that are important to our business or prioritized by our key stakeholders, such as customers, employees, suppliers, and regulators. A growing area of focus is the quality and traceability of sustainability data, where we are working to meet increasing customer expectations and industry standards. For example, climate change, access to important natural resources, violations of human rights, and conflicts can lead to greater risk exposure for us as a company. The impact can be either direct, for example in the form of workplace acci dents, or indirect, for example via subcontractors or other stakeholders. The outcome of the assessment defines our sustainability focus areas: Environmental, Social, and Governance (ESG). These areas guide our prioritization, resource allocation, and reporting.