Demant
ESRS disclosure
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- Provide a detailed account of the roles and responsibilities of your administrative, management, and supervisory bodies. Specifically, describe management's involvement in governance processes, controls, and procedures utilized to monitor, manage, and oversee impacts, risks, and opportunities. Include information on whether dedicated controls and procedures are employed for managing these aspects and, if applicable, explain how they are integrated with other internal functions.
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Question Id: GOV-1_13
The Board of Directors evaluates progress on our sustainability ambition and ESG priorities twice a year and has final oversight. The audit committee oversees sustainability reporting. The Executive Board reports to the Board of Directors. The Executive Board has formed a wider Executive Leadership Team, which endorses sustainability and ESG ambitions and gives strategic direction on priorities.
Report Date: 4Q2024Relevance: 65%
- Provide a detailed account of the roles and responsibilities of the administrative, management, and supervisory bodies, including senior executive management, in overseeing the establishment of targets concerning material impacts, risks, and opportunities. Additionally, explain the mechanisms in place for monitoring progress towards these targets.
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Question Id: GOV-1_14
The Board of Directors evaluates progress on our sustainability ambition and ESG priorities twice a year and has final oversight. The audit committee oversees sustainability reporting. The Executive Board reports to the Board of Directors. The Executive Board has formed a wider Executive Leadership Team, which endorses sustainability and ESG ambitions and gives strategic direction on priorities.
Report Date: 4Q2024Relevance: 80%
- Provide a detailed account of the methods employed by the administrative, management, and supervisory bodies to ascertain the availability or development of appropriate skills and expertise necessary for overseeing sustainability matters.
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Question Id: GOV-1_15
The Executive Board has formed a wider Executive Leadership Team, which endorses sustainability and ESG ambitions and gives strategic direction on priorities. Information on the composition, diversity and expertise of our Board of Directors and Executive Leadership Team can be found on pages 47-49.
Report Date: 4Q2024Relevance: 50%
- Provide a comprehensive description of the methods employed by the administrative, management, and supervisory bodies to ascertain the availability or development of appropriate skills and expertise necessary for overseeing sustainability matters. This should include details on the sustainability-related expertise that these bodies, collectively, either directly possess or have the capability to leverage, such as through access to external experts or training programs.
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Question Id: GOV-1_16
The Executive Board has formed a wider Executive Leadership Team, which endorses sustainability and ESG ambitions and gives strategic direction on priorities. Information on the composition, diversity and expertise of our Board of Directors and Executive Leadership Team can be found on pages 47-49.
Report Date: 4Q2024Relevance: 50%
- Provide a detailed account of how the administrative, management, and supervisory bodies ascertain the availability or development of appropriate skills and expertise necessary to oversee sustainability matters. Include an explanation of how these skills and expertise are connected to the company's material impacts, risks, and opportunities.
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Question Id: GOV-1_17
The Executive Board has formed a wider Executive Leadership Team, which endorses sustainability and ESG ambitions and gives strategic direction on priorities. Information on the composition, diversity and expertise of our Board of Directors and Executive Leadership Team can be found on pages 47-49.
Report Date: 4Q2024Relevance: 50%
- Provide detailed information regarding whether, by whom, and how frequently the administrative, management, and supervisory bodies, including their relevant committees, are informed about material impacts, risks, and opportunities. Additionally, disclose the implementation of due diligence, as well as the results and effectiveness of policies, actions, metrics, and targets adopted to address these issues.
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Question Id: GOV-2_01
The Board of Directors evaluates progress on our sustainability ambition and ESG priorities twice a year and has final oversight. The audit committee oversees sustainability reporting. The Executive Board reports to the Board of Directors. The Executive Board has formed a wider Executive Leadership Team, whose members represent the three business areas (Hearing Aids, Hearing Care and Diagnostics) as well as Group Services. The Executive Leadership Team endorses sustainability and ESG ambitions and gives strategic direction on priorities. In 2024, the Sustainability Board comprised the Executive Leadership Team as well as selected senior leaders from our business areas and functions. The Sustainability Board met every other month to review progress and risks, give strategic guidance on ESG priorities and ensure alignment and traction in the business areas.
Report Date: 4Q2024Relevance: 80%
- Provide a detailed account of how your administrative, management, and supervisory bodies evaluate impacts, risks, and opportunities in the context of overseeing your company's strategy, major transaction decisions, and risk management processes. Include an explanation of whether trade-offs related to these impacts, risks, and opportunities have been considered.
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Question Id: GOV-2_02
Assessing materiality of sustainability topics on an annual basis helps us take the right strategic decisions and guides our external disclosures. We assess sustainability topics from a double materiality perspective: How can Demant actually and potentially impact people and the environment (impact materiality), and can such impacts and/or dependencies on resources affect Demant’s financial position (financial materiality)? In 2024, we further qualified the extensive double materiality assessment (DMA) we conducted in 2023 to identify our material topics.
Report Date: 4Q2024Relevance: 60%
- Provide a comprehensive list of the material impacts, risks, and opportunities that have been addressed by the administrative, management, and supervisory bodies, or their relevant committees, during the reporting period.
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Question Id: GOV-2_03
The material impacts, risks, and opportunities identified include:
Financially material:
- Climate change adaptation (E1)
- Talent attraction and retention (S1)
- Product quality and safety (S4)
- Corruption and bribery (G1)
- Advocacy for hearing health (G1)
Double material (financially and impact material):
- Climate change mitigation (E1)
- Product circularity (E5)
- Diversity, equity and inclusion (S1)
- Providing life-changing hearing health (S4)
- Hearing health awareness (S4)
Impact material:
- Working conditions (S1)
- Responsible supply chain (S2)
- Right to privacy (S4)
Not material:
- Various ESG topics, including pollution (E2), biodiversity (E3), water (E4) and affected communities (S3).
Report Date: 4Q2024Relevance: 90%
- How do the governance bodies of your undertaking ensure that an appropriate mechanism for performance monitoring is in place, particularly when overarching targets are the focus of administrative, management, and supervisory bodies, and detailed targets are the focus of management? Provide information on the sustainability matters addressed and the information provided to these bodies, especially if no measurable outcome-oriented targets have been set.
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Question Id: GOV-2_04
Group Sustainability drives the Group’s overall sustainability ambition, selected ESG priorities and, in collaboration with the ESG reporting team in Finance, the sustainability reporting. Other key functions drive specific sustainability areas, such as privacy, business ethics as well as diversity, equity and inclusion. Business areas implement the Group’s ESG priorities, drive supply chain- and product-related projects and monitor product-related and country-specific legislation.
Report Date: 4Q2024Relevance: 60%
- Provide a comprehensive mapping of the information contained within your sustainability statement pertaining to the due diligence process, as mandated by Disclosure Requirement GOV–4.
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Question Id: GOV-4_01
Core elements of due diligence
Core elements of due diligence Paragraphs or pages in the Sustainability Statement Disclosure relating to people and/or environment a) Embedding due diligence in governance, strategy and business model ESRS 2 GOV-2, page 56 People and environment ESRS 2 GOV-3, page 8 in Remuneration Report 2024 People and environment ESRS 2 SBM-3, pages 58-63 People and environment b) Engaging with affected stakeholders in all key steps of due diligence ESRS 2 GOV-2, page 56 People and environment ESRS 2 SBM-2, page 64 People and environment ESRS 2 IRO-1, page 62 People and environment S1-2, pages 86-87, 89, 92 People S2-2, page 94 People S4-2, pages 96, 99, 101 People G1-1, page 104 People and environment c) Identifying and assessing adverse impacts ESRS 2 IRO-1, page 62 People and environment ESRS 2 SBM-3, page 58 People and environment d) Taking actions to address those adverse impacts E1-1, page 68 Environment E1-3, page 68 Environment E5-2, pages 76-77 Environment S1-4, page 87, 89, 92 People S2-4, page 94 People S4-4, pages 96-97, 99, 101 People G1-1, page 104 People and environment G1-3, page 104 People and environment e) Tracking the effectiveness of these efforts and communicating E1-4, page 69 Environment E1-5, page 70 Environment E1-6 pages 70-72 Environment E5-3, page 77 Environment E5-4, page 78 Environment E5-5, page 78 Environment S1-5, pages 87, 90 People S1-6, pages 88, 92 People S1-9, page 90 People S1-17, page 87 People S4-5, pages 98-100 People G1-4, page 105 People and environment G1-5, page 106 People and environment Report Date: 4Q2024Relevance: 85%