Materiality

Novozymes’ materiality assessment is a systematic and rigorous process that integrates inputs from external stakeholders, trend analyses, and internal engagement with relevant departments e.g., Risk Management and Corporate Sustainability.

From trends to strategy

To ensure proactivity and agility in our response to an ever changing external environment we must ensure that sustainability trends are incorporated into our business approach. We therefore review our materiality and trend spotting processes annually with an aim to improvise our understanding and respond to the upcoming trends and sustainability issues.

novozymes-approach-understanding-matrix

Understanding the matrix

The illustration is a snapshot of the upper-right quadrant of Novozymes’ materiality matrix and depicts 15 issues that are most material (High Materiality) to Novozymes’ business. As a result of continuous review and improvements in the materiality assessment process, the 2016 materiality matrix includes some new issues and sees some other changes like renaming of issues, bundling of two or more similar issues into one topic and removal of few others. The new issues included in “high materiality” in 2016 are Sales, Earnings, Compliance and Responsible Sourcing. To learn more about our Materiality assessment process and the “High materiality” issues.