Sustainability
Materiality
In 2024, we completed a double materiality assessment to inform our sustainability priorities and strengthen the transparency of our reporting and disclosures.
Conducted in collaboration with external consultants, the assessment identified the most significant sustainability impacts, risks, and opportunities (IROs) for Bodycote based on their effects on people and the planet, and their potential financial implications for our business.
Aligned to the European Sustainability Reporting Standards (ESRS) methodology, our process followed four key stages:
- Value chain mapping: We analysed our global operations to identify environmental and social impacts, and dependencies based on key natural, human and social resources.
- IRO identification: We created a long list of potential sustainability IROs using internal data, industry benchmarks, and ESG standards.
- Stakeholder engagement: We conducted interviews with key internal and external stakeholders to validate and refine our list of material topics.
- IRO scoring framework and ranking: We applied a structured scoring framework to assess significance, prioritise topics, and define a materiality threshold before ranking issues.
Our assessment was overseen by a governance committee comprising the Group’s Chief Executive, Chief Financial Officer, Chief Sustainability Officer and Company Secretary, and undertaken by a working group with representatives from key corporate and operational functions. Read more about our outcomes in our 2024 Annual Report.
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