Double materiality assessment
At the time of publishing this Annual Report, the Corporate Sustainability Reporting Directive (CSRD) has not yet been officially incorporated into Dutch law. Nevertheless, we have taken the proactive step of voluntarily aligning our reporting with the European Sustainability Reporting Standards (ESRS) for 2024. This decision underscores our commitment to integrating sustainability into our operations and aligning with evolving regulatory standards. The CSRD emphasises that our environmental, social, and governance (ESG) responsibilities extend outside our organisation, reflecting their importance to stakeholders and society at large. Preparations for the CSRD began in 2022, focusing on understanding its scope, timelines, and requirements. During this period, we conducted an initial DMA, which provided early insights into the significance of ESG impacts both in terms of their influence on our value creation and their broader societal implications.
Building on these foundations, and the understanding of our value chain and our operating context, we conducted a detailed bottom-up DMA in 2023. Alongside, we assessed technical gaps and established a robust governance structure and implementation programme. By the first quarter of 2024, we had finalised the internal and external validation of the DMA results and agreed upon the outcomes in the second quarter. In relation to the DMA, these insights guided our activities throughout the year, including addressing identified reporting gaps, embedding the outcomes of the CSRD into relevant business processes, and integrating them into this Annual Report.
As 2024 represents our first year of CSRD implementation, we are committed to continuous learning and improvement. Looking ahead to the 2025 DMA and beyond, we will incorporate lessons learned, evolving guidelines, and the latest reporting insights to further enhance our sustainability reporting framework.