Materiality analysis

Materiality analysis 2021

Lenzing presented its “Naturally positive” sustainability strategy in 2017. In the run-up to this, it performed a comprehensive materiality analysis for the first time in 2015. This materiality analysis was updated and expanded in 2021. A so-called double materiality analysis was carried out for the first time.

The new materiality matrix of the Lenzing Group was developed in three phases. The first phase was dedicated to defining the potential material topics. Around 300 internal and external topics and trends in environment, social and governance (ESG) domain were identified for the present and future. This list of topics was then consolidated into 16 relevant topics (i.e. the shortlist), which yielded the potential material topics.

In the second phase, internal and external stakeholders were brought in to prioritize these 16 topics. For each of these topics, a brief description of the impacts, risks, opportunities, expectations and current situation was prepared and a questionnaire was created. This questionnaire was sent worldwide to employees from different levels, supervisory board, investors, suppliers, customers, partners from the value chain, brands , insurance companies and the media.

In addition, an impact analysis of these topics was carried out with 40 employees in various areas who are also involved in sustainability reporting on ecological and social impacts. ESG topics can also include both risks and opportunities that are financially material. Therefore, the materiality analysis was extended to include the financial perspective (i.e. double materiality).

Material aspects

For further information on the update of the materiality analysis please see the “Materiality analysis” focus paper.