To strengthen our sustainability strategy and prepare for mandatory sustainability reporting commencing in FY 2025, we conducted our first double materiality assessment (DMA). This essential concept stems from European Sustainability Reporting Standards (ESRS). Conducting a materiality assessment is crucial for identifying the significant impacts, risks, and opportunities (IROs) that we need to report, and that inform our strategic priorities and guide our sustainability efforts. The entire process is described in the ESG Report, along with each identified IROs.

As part of the double materiality assessment, we needed to take a closer look at our activities across the entire value chain, both downstream and upstream, including our strategy and business model. This involved mapping our business relationships, geographic locations, and the products and services we offer.