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Bang & Olufsen x Sustainability

Materiality Assessment

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We engage with our most important stakeholders regularly and work to integrate relevant input into our ESG and sustainability activities and risk assessments. We define our most important ESG and sustainability impacts according to best practice reporting standards defined by GRI, the Global Reporting Initiative. As a result, we use the process of materiality to identify our most material issues.

The materiality assessment is based on stakeholder engagement that enables us to gather insights from our key stakeholders on specific areas of importance to them. We then integrate their input into our strategy and activities in a focused and proactive way. The continuous engagement with stakeholders ensures that our decision making, and prioritisation reflects the most important areas of concern and where our business has the biggest impact. On top of this, the materiality assessment also determines our metrics for corporate reporting.

Our most recent materiality assessment was conducted in the second half of 2021. Key stakeholders and subject matter experts created a list of topics of concern, that was prioritised, and consequently mapped in an impact matrix.

We commit to undertake a review of the materiality assessment annually, as well as conducting in-depth reassessments at least every two years, or if there is a major change to our business.

Read more about the Materiality Assessment here.