Materiality Matrix

Within the dynamic landscape of sustainable business practices, our commitment to transparency and stakeholder engagement takes center stage. At the heart of our disclosure strategy lies the Materiality Matrix, a powerful tool that not only reflects our dedication to responsible corporate governance but also serves as a compass guiding our sustainability journey. It guides us to determine our sustainability priorities, and to adjust our goals and performance indicators in line with up-to-date sustainability issues and with our stakeholders’ expectations and concerns. In addition, the consultation process is a valuable tool to engage our colleagues, customers, suppliers and investors on our sustainability journey by including them in defining its future direction.

Our Materiality assessment process followed the approach described in the EU Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) and is in accordance with the GRI Standards. It applied a double materiality approach. Double materiality is composed of impact materiality (the actual and potential impacts of our company on the environment and society) and financial materiality (the material societal and environmental risks and opportunities that may affect the company). Our materiality assessment is based on materiality assessments conducted at the Business Unit level supplemented with input from the Group. Our process in 2023 employed the following steps:

Through a bottom-up approach, and the involvement of various stakeholder groups, we also identified the priority topics at Business Unit level, as well as the most important topics by stakeholder group.