Sustainability at Blum Analysing our environmental and social impacts (Sustainability impact assessment (inside-out)) The purpose of an impact assessment is to estimate the impact of our business operations on both people and the planet. To conduct this assessment, we first identified all potential impacts – current, future, positive and negative – and performed an initial analysis with the help of external experts. Based on these findings, we established a consolidated list of 13 potential material topics relating to environmental, social and governance (ESG) factors. We then described each of these 13 topics and, for those where negative impacts were identified, analysed them in terms of their scale, scope and irremediability using weighting factors of 0 to 5. Those material topics with a higher weighting (threshold) were identified as being more significant. Analysing the financial impacts on our business (Financial impact assessment (outside-in)) In addition to assessing a company’s environmental, social and governance impacts, a double materiality assessment also takes into account the potential financial impact of different topics on the company’s operations. For our assessment, we started by defining the worst-case scenarios for each of our 13 potential material topics based on a roughly 10-year timeline. These scenarios were then finalised with the help of external experts and 13 members of the Corporate Management Group were selected to complete the assessment in the form of an online questionnaire. The assessment focused on two areas: – financial impacts in terms of capital goods (access to resources, continued use); and – financial impacts in terms of stakeholder dependencies. These were assessed using a weighting factor of 0 to 4 for the different dimensions and scenarios. 30 © Copyright by Blum
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