Process for determining significant topics
We use a comprehensive materiality process to determine the topics that are relevant both for the direction of our sustainability strategy and for our reporting. For instance, we perform a document analysis in order to analyze aspects such as existing legislation and the expectations of our stakeholders, e.g., the capital markets. In the reporting year, we validated the results of this analysis by conducting interviews with independent experts on topics such as the future of work, sustainable business models, and values and responsible corporate governance. The results of the materiality analysis from the previous year were confirmed. Consequently, there is no need to include further matters in the NFS for 2020.
Detailed information on our approach will be published in our 2020 CR report.
As part of our comprehensive risk and opportunity management system, we determine existing and potential risks and opportunities arising from environmental, economic, or social aspects, and from how our Company is managed. Topics such as climate protection, suppliers, data privacy and data security, health, and the environment involve potential risks, which we have outlined in the section “Risk and opportunity management.” We maintain this practice to provide the transparency our stakeholders expect, even if the risk assessment has found that these topics have a “low” risk significance and therefore do not need to be rated as “very likely severe” in the meaning of the CSR Directive Implementation Act. The present NFS focuses on these risks and opportunities in relation to the relevant aspects.
For further information, please refer to the section “Risk and opportunity management.”