Materiality assessment

In 2022, Gränges conducted a new materiality assessment based on a comprehensive stakeholder dialogue. The purpose of the assessment was to ensure that the company continues to focus on those sustainability topics that have the greatest impact and are the most important among key stakeholders. The new materiality is in line with the new CSRD (Corporate Sustainability Reporting Directive) requirements, following the principle of double materiality.

Methodology

The materiality assessment process followed the following steps:

Step 1: Identification of sustainability topics:
Gränges identified a list of relevant sustainability topics for the company based on peer benchmark, industry standards and upcoming reporting regulation. The list was shortened to 22 topics.

Step 2: Stakeholder dialogues:
Two online engagement surveys were sent to stakeholders to evaluate the impact and relative importance of various sustainability topics. The first survey was shared with Gränges’ global leadership team and the second survey with Gränges’ five main stakeholder groups: customers, employees, investors, suppliers, and the local community. A number of deep-diving interviews were also conducted during the autumn of 2022 in order to add more details to the survey results.

Step 3: Validation workshops:
Internal workshops were held with relevant functions to validate the result from the stakeholder dialogues.

Results

The results largely confirm the assessment done in 2017, which indicates that the existing strategy is still relevant. Four topics included in the survey were assessed to be less material: Biodiversity, Community involvement, Data privacy, and Responsible tax. These topics will be managed regionally depending on local conditions and stakeholder expectations.