In 2013, we started taking action on a new sustainability strategy in order to expand and deepen our progress. During the development of this strategy we conducted an in-depth materiality assessment to gain a clearer view of the issues most material to our business. Materiality refers to the issues that reflect an organisation’s significant economic, environmental and social impacts, and substantively influence the decisions of stakeholders. In addition to conducting the in-depth analysis, we are continuously monitoring and evaluating relevant areas to make sure we are focusing on the right issues.
Below you will find the final shortlist and corresponding graph of our most material sustainability aspects.
Our materiality process follows the below steps, as recommended by the GRI:
A closer look at our materiality process
In the first step of our materiality assessment we used all our existing knowledge and research of our direct and indirect impacts to create a list of material aspects.
The next step was an extensive review of media, industry associations and peers to identify what social, environmental and economic topics were raised by our stakeholders. We also made sure that the topics that we report to Global Compact were considered in the list of material issues. We then asked our most important stakeholder groups to help us prioritise what they believed were the most relevant aspects to them. This included speaking with Oriflame employees, customers, investors and social actors such as NGOs.
The result was a prioritised list of aspects, which we then combined with our sustainability strategy and other indicators from the Global Reporting Initiative (GRI). We used this to inform and reevaluate our original list of Oriflame’s biggest impacts and relevant issues.
This approach meant we could be certain the final list did not omit any issues - such as, for example, the wide range of environmental issues that are so important to our business strategy. And that we could prioritise the list accordingly. As a result of this work, we have been able to identify the GRI indicators that we report on. Moreover, it has helped us to fully understand our business impact, to improve our knowledge on what our stakeholders find important and care for, and to develop our priorities and processes.