The key to sustainability work that contributes to long-term value creation is to understand the surrounding world and the stakeholders’ expectations in a changeable time. Knowit’s materiality process to identify the most important issues contributes to prioritizing the sustainability issues that Knowit should be focusing on.
This analysis of the societal changes that Knowit and its stakeholders can affect and are affected by is the foundation for how sustainability is integrated into Company strategy and reported. A full essentiality analysis is done every other year, with a review and smaller adjustments being made in between these occasions.
Materiality analysis
Ahead of 2022, a full materiality assessment was performed, which has been followed up before and during 2023. The result of that the materiality assessment remained ahead of and during 2023.
The full materiality assessment included the following stages:
- With a focus on the future: Navigating 2030 and benchmarking competitors.
- Identifying and weighting material sustainability areas.
- In-depth interviews with Company representatives and stakeholders, in order to validate the identified sustainability areas and their respective weights.
- Impact on Knowit’s value chain.
- Impact on the Company’s strategy and communication.
As part of Knowit’s preparations ahead of 2024 and the new requirements that CSRD have on efforts related to our material matters, a double materiality assessment was performed in the fall of 2023. The results of this double materiality assessment will be the foundation for Knowit’s sustainability efforts going forward.
