Double materiality approach
In 2023, we introduced our first-ever double materiality assessment, signifying a notable advancement in our reporting, further elevating our commitment to sustainability.
Double materiality assessment overview
This advanced framework goes beyond the traditional approach, examining not only our impacts on the environment, society, and the economy, but also the risks and opportunities related to sustainability. This comprehensive approach offers an understanding of our ESG impacts and risks, facilitating heightened transparency and accountability. It enables us to focus on critical areas, aligning our business performance with stakeholder expectations and fostering long-term value creation.
Beyond economic outcomes, our assessment reflects our commitment to sustainable development and provides essential insights into pertinent topics for various stakeholder groups.
Givaudan’s double materiality matrix
Results from the external and internal assessments were integrated to create a comprehensive matrix of prioritised ESG topics. This consolidation ensured alignment with shared concerns among external stakeholders, and internal recognition of both outward impacts on the environment, economy, and society, as well as sustainability-related risks and opportunities for the Company.
Our process for finalising and prioritising material topics, along with the definitions of these topics, can be found below.