The methodology used for conducting the Double Materiality Assessment under the Corporate Sustainability Reporting Directive (CSRD) involves a structured and iterative process.

The primary assumptions are that all relevant sustainability matters identified can impact Cordeel’s operational and financial performance, and that stakeholder feedback is crucial for assessing the significance of these impacts.

The methodology includes extensive consultations with stakeholders who are directly or indirectly affected by Cordeel’s operations. This includes engaging with employees, customers, suppliers, and/or their representatives directly or indirectly  through surveys and interviews to gather diverse perspectives on the impact of the company’s activities. We used the feedback of our extensive survey we conducted in 2023 as a baseline.

In 2024, we focused on consulting external sources to ensure that the assessments are aligned with industry standards and best practices. More importantly, we wanted to make sure that we evaluate our real impact and that take into account diverse  perspectives.

We matched the external information like ENCORE with the KPI’s we have been collecting since several years to come to a conclusion on what’s material to us.

We started by mapping out all the ESRS sustainability (sub) topics as well as the results from our previous assessment, topics used by other companies in our sector and entity-specific matters. After a first evaluation on which topics are not applicable at all for us (e.g. “adequate food for affected communities”) we created a long list of 63 matters. Here, we conducted further research to evaluate impact, risks and opportunities. Finally, we ended with a short list of 20 sustainability matters.

We decided to evaluate E1 – Climate Change, G1 – Business Conduct and S1 – Own Workforce not on a subtopic level, but as a whole. Given our size and impact it was likely that we would need to report on all the various subtopics anyway.

The resulting double materiality assessment was validated by our Board of Directors.

We tried to follow the CSRD guidelines for double materiality analysis as closely as possible. We will continue to have yearly updates on this analysis.