Materiality
The contents of this report and the environmental, social, and governance issues we consider material are determined by a wide-ranging materiality assessment and our direct stakeholder engagement outlined. The material topics outlined in this report are defined in accordance with materiality as defined by the Global Reporting Initiative (GRI) 3: Material Topics 2021 guidelines and does not equate to financial materiality as presented in our Annual Report and financial filings.
Materiality Assessment
We completed our first comprehensive stakeholder materiality assessment at the end of fiscal 2021. This was a vital step in prioritizing topics across the broad universe of key sustainability issues identified through our research and benchmarking. To facilitate feedback, we limited our formal assessment to 27 potentially material topics. We continually work to evolve our understanding of the topics most important to our stakeholders and adjust our reporting as these topics change over time.
To identify the material and emerging issues addressed by our company, the materiality assessment was conducted using Datamaran’s software-based solution. One of the key benefits of using this software was its ability to analyze our external stakeholders’ disclosure and priorities, factoring in regulatory trends and sustainability rating criteria. For internal stakeholders, we conducted a direct employee survey, with aggregated results to determine the rank of priorities for each employee group, including our Board of Directors.
Materiality Matrix
The results were analyzed and plotted on a preliminary materiality matrix, which the internal sustainability and executive leadership teams reviewed. After final review by the Board of Directors, nine topics are identified as high priority and are organized in alignment with our Impact 2025 strategy and broader business strategy. The matrix shown summarizes a total of 23 material topics out of the 27 considered. These topics are mapped to the appropriate GRI Standard, and relevant GRI indicators are reported.
High Priority Material Topics
- Business Continuity
- Business Ethics
- Circular Economy
- Climate Change Risk and Opportunities
- Data Security
- Employee Engagement, Diversity, and Inclusion
- Employee Wellbeing, Health, and Safety
- Product Quality and Safety
- Talent Management
Material Topics
- Community Relations
- Competitive Behavior
- Corporate Transparency
- GHG Emissions and Energy Management
- Governance Structures and Mechanisms
- Human Rights
- Innovation and Technology
- Labor Practices
- Long-Term Value Creation
- Operation Clean Sweep
- Operational Waste Management
- Regulatory Compliance
- Responsible Supply Chain
- Water and Wastewater Management
Key Discussion Topics
Key material topics can vary by stakeholder. Through the materiality assessment and other direct dialogue channels, we have determined priority topics for all stakeholders in our value chain, including investors, suppliers, customers, retailers, and internal stakeholders – our team members.
High Priority Sustainability Topics
The topics below, listed in alphabetical order, were finalized as our current highest priority sustainability topics based on the results of our latest materiality assessment. We are providing transparency on additional topics to assist our stakeholders in understanding our broader impacts.
Business Ethics
Circular Economy
Climate Change Risk and Opportunities
relating to greenhouse gas emissions and emission reduction targets.
Data Security
storage, processing, usage, and sharing of data.
Employee Engagement Diversity and Inclusion
Employee Wellbeing Health and Safety
Product Quality and Safety
