Materiality and stakeholder engagement

The foundation of our sustainability strategy is the materiality matrix, which we use to set priorities and ensure that we take a focused approach.

A materiality analysis is about the identification of key issues that are important to our stakeholders and our strategy.

The materiality matrix visualizes the results of this analysis, by plotting the relevant social, environmental, governance, and economic issues as a function of their importance to stakeholders (vertical axis) and the impact of Corbion's strategy and activities on the issues (horizontal axis).

material themes

In 2020, we updated the materiality matrix using an in-depth methodology (see Figures 1 and 2), resulting in the identification of ten material themes. These ten themes are considered important by the majority of our stakeholders and are impacted by Corbion's activities significantly. The materiality assessment is updated at least every three years, as input for our strategy updates. Compared to the materiality matrix determined in 2017, four new topics made it to the top 10: collaboration and partnerships, economic performance, sustainable and responsible agriculture, and responsible business.

Materiality matrix

The table below lists the material themes, definitions, boundaries, management approach, and the link with Corbion's sustainability framework and strategy.

Material theme	Safe and healthy working environment
Definition	Provide a safe and healthy working environment for all employees, contractors and visitors, and promote a safety culture in the supply chain.
Management approach	Record all incidents and implement corrective and preventive measures OHSAS 18001 / ISO 45001 certification for all our manufacturing sites
Boundaries	Corbion's own operations
Link with Advance 2025 strategy	Preserving Health
Linked SDG	SDG3

Material theme	Greenhouse gas emissions
Definition	The reduction of GHG emissions of Corbion and its partners in line with the Paris climate agreement, by increasing energy efficiency, use of renewable energy and supplier engagement.
Management approach	Transition to renewable electricity Energy-saving projects at manufacturing sites Selection of the most energy-efficient technology available when equipment is replaced R&D program to identify opportunities for heat integration, electrification, and recycling Partner with suppliers to jointly reduce our carbon footprint Review the financial impact of greenhouse gas emissions through internal carbon pricing in capital expenditure and long-term R&D projects
Boundaries	Corbion's value chain
Link with Advance 2025 strategy	Preserving the Planet
Linked SDG	SDG13

Material theme	Innovation for safe, healthy and sustainable food production
Definition	Corbion's food ingredient solutions support the sustainable production of safe, healthy, and affordable food and the prevention of food waste along the value chain.
Management approach	Sustainability assessment integrated in our innovation stage-gate process Quantify the impacts on people and/or planet for products with a sustainability value proposition (Life Cycle Assessment) Provide food safety solutions that enable our meat customers to produce safe food Provide preservation solutions that help our customers deliver products with longer shelf lives, which in turn enables them to reduce food waste and deliver affordable products to markets in which consumer spending power is limited Leverage our expertise in food spoilage and food safety to serve more segments of the food industry Provide solutions for healthy food, such as ingredients for salt reduction and mineral fortification
Boundaries	Corbion's downstream value chain
Link with Advance 2025 strategy	Preserving Food and Food Production, Preserving Health
Linked SDG	SDG2, SDG3

Material theme	Sustainable procurement
Definition	To ensure high-quality materials and security of supply, Corbion aims to manage social and environmental risks within our supply chain in a responsible and ethical way.
Management approach	Assessment of raw materials on potential risks related to procurement, quality (including food safety), and sustainability in our security-of-supply assessment, which is updated annually Development of mitigation plans for all high-risk raw materials and suppliers Generic supplier code that states mandatory requirements on, amongst others, business ethics, human rights, labor conditions, the environment, and responsible procurement; based on the OECD Guidelines for Multinational Enterprises and the eight fundamental conventions defined by the ILO Participate in relevant multi-stakeholder initiatives
Boundaries	Corbion's supply chain
Link with Advance 2025 strategy	Preserving the Planet
Linked SDG	SDG12

Material theme	Collaboration and partnerships
Definition	Through collaboration with partners Corbion is able to provide better and innovative solutions for customers and society.
Management approach	Engagement with suppliers of our key raw materials regarding responsible sourcing, sustainable agriculture, and reduction of GHG emissions Engagement with agricultural services partners regarding sustainable agriculture Joint innovation projects with customers Engagement with customers regarding the Science Based Targets initiative Participate in relevant multi-stakeholder initiatives and partnerships
Boundaries	Corbion's value chain
Link with Advance 2025 strategy	Preserving Food and Food Production, Preserving Health, Preserving the Planet
Linked SDG	SDG17

Material theme	Economic performance
Definition	To ensure corporate longevity, and continuity in its solution offering, Corbion aims for healthy economic business returns.
Management approach	See Risk management chapter
Boundaries	Corbion's own operations
Link with Advance 2025 strategy	Preserving Food and Food Production, Preserving Health, Preserving the Planet
Linked SDG	-

Material theme	Innovation for circular economy
Definition	Corbion's biobased chemicals and materials support the transition to a circular economy
Management approach	Sustainability assessment integrated in our innovation stage-gate process Quantify the impacts on people and/or planet for products with a sustainability value proposition (Life Cycle Assessment) Application of Green Chemistry principles in innovation Innovation portfolio Lactic Acid & Specialities Innovation portfolio Incubator
Boundaries	Corbion's downstream value chain
Link with Advance 2025 strategy	Preserving the Planet
Linked SDG	SDG12

Material theme	Product quality and safety
Definition	Corbion delivers products that are safe, consistently meet specifications, and deliver the expected performance.
Management approach	Ensure certifications are in place to meet customer and industry-adopted standards and requirements Internal audits by our global quality platform to ensure that we continue to improve our operational standards for quality and food safety Customer audits predominantly from our international pharmaceutical customers and large food clients No production of chemicals of concern
Boundaries	Corbion's own operations
Link with Advance 2025 strategy	Preserving Health, Preserving the Planet
Linked SDG	SDG3, SDG12

Material theme	Sustainable and responsible agriculture
Definition	Corbion aspires to create a sustainable and traceable agricultural supply chain by eliminating deforestation and by continuous improvement to reduce negative impacts on the environment while providing positive benefits such as carbon sequestration.
Management approach	Generic supplier code that states mandatory requirements on, amongst others, business ethics, human rights, labor conditions, the environment, and responsible procurement Sustainable agriculture policy Specific policies for our key raw materials focusing on continuous improvement toward the implementation of the relevant sustainability standard for each of these raw materials Engagement with suppliers and agricultural services partners regarding sustainable agriculture Participate in relevant multi-stakeholder initiatives
Boundaries	Corbion's supply chain
Link with Advance 2025 strategy	Preserving Food and Food Production
Linked SDG	SDG2, SDG15

Material theme	Responsible business
Definition	By conducting business in a responsible fashion, actively enforcing an ethical, anti-corruptive culture, Corbion is a trustworthy partner.
Management approach	See Business conduct/compliance chapter
Boundaries	Corbion's value chain
Link with Advance 2025 strategy	Preserving the Planet
Linked SDG	SDG12

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Materiality and stakeholder engagement

A materiality analysis is about the identification of key issues that are important to our stakeholders and our strategy.