To identify and prioritise the issues that are most relevant to our stakeholders and our business we analyse our stakeholders’ expectations as well as the social, environmental and economic impacts along our value chain in a materiality analysis.
We take a three-stage approach to identifying material sustainability issues to report against — those of most interest to our stakeholders and those where we have the most significant impact.
- Identification. We conduct an annual review of a long list of topics based on analysis of external standards and interest.
- Prioritisation. We score and prioritise topics based on how often they are raised by stakeholders and their level of economic, environmental and social impact — seeking input from internal and external stakeholders.
- Review. We regularly review and refresh our materiality matrix with key stakeholders, considering emerging challenges while remaining focused on delivering our sustainability strategy.
Material Issues 2020
We conducted a full re-assessment of our materiality matrix most recently in 2019. In 2020, we conducted adjustments based on our annual stakeholder survey and in response to the Covid-19 crisis, while despite the crisis most of material issues remained stable.
- Our annual stakeholder survey confirmed improvements in the perception of our work, as well as transparency and disclosure of strategies and impacts across all our strategy areas. While seeing good improvements here, we see a continued demand from stakeholders to understand our climate strategy in further detail and continue to expand impact disclosure and improve data quality, particularly in regards to scope 3 emissions. Already with this report, we provided further details in this regard and raised the score for “frequency raised by stakeholders” on climate even further.
- Biodiversity continues to be an emerging issue with growing awareness and relevance to both stakeholders, as well as our own strategies. We have outlined our initial ambitions on biodiversity and are currently working on a dedicated biodiversity strategy in close collaboration with key stakeholders to jointly advance understanding of relevant measurements and actions.
- We see a continued increase in attention to human rights, partly relating to risks resulting from the Covid-19 crisis, such as wage payments and social security, but also risks of forced labour globally.