Demant
ESRS disclosure: ESRS ESRS 2 \ DR GOV-2
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- 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%