Our material issues are those that matter most to our stakeholders and broader shareholder groups, and subsequently impact the Company’s value drivers, competitive position and long-term value creation.
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Our material issues are those that matter most to our stakeholders and broader shareholder groups, and subsequently impact the Company’s value drivers, competitive position and long-term value creation.
We assess our material issues annually to fully understand how to manage the risks and opportunities they present. This ensures that we prioritise the issues that have the greatest impact on the economy, society and the environment.
Our annual materiality assessment, is carried out in four phases by our cross-functional Mission 2025 Team:
The steps to ensure that management of material issues is successfully embedded in our strategy and operations are carried out by three groups within the Company.
To support our annual materiality assessment, we conduct an ongoing dialogue with our stakeholders, including employees, consumers, customers, suppliers, communities, governments, non-governmental organisations, investors, trade associations and academics. In addition, we monitor external trends, other industries and peer company’s materiality analysis and how these affect our ability to grow our business sustainably over time.
Our systematic materiality assessment process helps us prioritise the issues in line with the GRI Standards. The issues are interconnected and should not be viewed as separate items.
Understanding the needs and interests of our stakeholders – including our partners, customers, suppliers and community members and employees – helps us to prioritise our material issues. This in turn helps us develop sustainable business strategies, enabling us to create value in the long term.
We actively seek out our stakeholders’ opinions and insights by:
The outcome of our material issues survey constitutes a ranking order of material issues. By assessing the importance of these issues to our stakeholders and their decision, combined with an assessment of the impact of the issue on society and environment, we derive the relative materiality of each issue and prioritise them accordingly. Following the process of prioritising our material issues, the Executive Leadership Team (ELT) ensures their proper implementation in our overall strategic framework. This includes setting and disclosing targets and metrics to measure progress.
We have linked our material issues to the Sustainable Development Goals (SDGs), established by the UN to achieve long-term growth and development by 2030. In 2018, when introducing Mission 2025 with our sustainability commitments, we aligned our materiality topics not only with the applicable goals, but with all relevant underlying targets for each SDG.
Our material issues are linked to the Mission 2025 sustainability commitments and the UN’s Sustainable Development Goals (UN SDGs) and their targets
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments*
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments
Alignment with SDGs
2025 sustainability commitments
Natural Capital is the stock of renewable and non-renewable natural resources that combine to yield a flow of benefits to people (reference: Natural Capital Coalition).
To understand our impact, we used the methodology of the Natural Capital Protocol, and evaluated our environmental impact across our entire value chain.
Our study translates Life Cycle Analysis (LCA) indicators into a monetary value.
Final impact is the cost that society bears as a result of our activities in the value chain.
1. Non-renewable energy use
2. Aquatic ecotoxicity
3. Aquatic eutrophication
4. Land occupation
5. Human toxicity, carcinogen
6. Human toxicity, non-carcinogen
7. Ionizing radiation
8. Respiratory effects (Particulate matter)
9. Ozone Depletion
10. Photochemical oxidation (smog creation)
11. Global warming
12. Water withdrawal (water consumption)