We have carried out a double materiality analysis project for CELSA Steel UK, with the aim of further deepening the path towards corporate sustainability. Specifically, through the identification of the most relevant aspects for the company and its stakeholders.
This approach is based on the materiality principle, which determines which issues are relevant to act upon and report on. These material issues are those that address the needs and expectations of stakeholders, while also contributing to the development of the business, thus generating value at the social, environmental, and economic levels.
Firstly, we conducted an analysis to assess the financial risks and opportunities for the company, as well as the potential impacts of its activities on society and the planet. This provided us with a preliminary view of how the various identified issues affected the company, and how the company affected society and the planet through these issues.
From there, we incorporated the perspectives of the leadership team of CELSA Steel UK, as well as those of its key stakeholders (customer companies, supplier companies, and employees), through a series of surveys.
Thanks to this work, we were able to define the double materiality matrix for CELSA Steel UK, which allows identifying the main material issues from a financial, impact, or both perspectives.
As a result of the project, CELSA Steel UK now has a clear view of the main material issues, allowing for the guidance of non-financial reports, helping to define corporate strategy, and promoting the prioritization of those issues that generate value for both the company and society as a whole.
