If you want to make sustainability an integral part of your business, you must identify material sustainability issues, develop a sustainability strategy and form sustainability targets.
To be at the forefront, any company must make sure that the next sustainability trends are incorporated in the overall company strategy. A best practice is to have a formal process of trendspotting including assessing the materiality of these trends to your business. Novozymes has a systematic approach to trendspotting which feeds into the development of our sustainability strategy and targets.
Together with stakeholders, Novozymes spots trends and assesses the potential impact of those trends on Novozymes’ business and its stakeholders. Based on this, a sustainability materiality overview has been developed. The materiality overview is reviewed once a year to incorporate material trends and issues reflecting our prioritizations. Issues that have a high level of importance for our stakeholders and for our business can be found in the upper right-hand corner of the matrix. These issues are critical to our immediate and long-term success and are an important part of our sustainability strategy. Innovation, climate change and energy efficiency are issues that strongly influence our success as we continue our journey toward sustainability in collaboration with our customers. The issues that are marked with a pink dot are issues for which we have defined corporate targets. Issues located in the box in the lower left-hand corner are less immediately relevant but are issues that we monitor as emerging trends of growing relevance to our stakeholders and to our business.
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