MAteriality
Our materiality process
We continuously monitor our material issues – our most significant economic, environmental and social impacts – to ensure we address the most important topics to our business and stakeholders.
Our materiality process
We maintain an up-to-date understanding of our material topics through engagement and dialog with key stakeholders, as well as by monitoring our business and industry peers (read more at Stakeholders inform our approach) and the relevant megatrends and drivers (read more at Global megatrends that shape our business). Our material topics are annually reviewed and validated by our internal experts and Group management. Major revisions are linked to our long-term business strategy updates.
Our approach helps us to understand the perceptions of our stakeholders (read more at Stakeholders inform our approach) about Electrolux, the potential risks and opportunities for our business, and enables us to evaluate our ability to create and sustain value.
The foundation of our approach is the Global Reporting Initiative's sustainability topics and the UN Sustainable Development Goals. We identify and prioritize the most important topics to Electrolux and our stakeholders, and these are included in our sustainability framework For the Better.
For the Better consists of nine Promises and our climate targets. These are the main areas we focus on as they maximize our contribution to society. Our material topics are annually reviewed.
The relevance of an issue for Electrolux, and thereby the decision to include it in our Promises is determined by the following criteria:
- The degree of impact caused by our activities throughout the value chain.
- How much the issue impacts on our business strategy.
- How the issue might affect our stakeholders.
The following illustration shows our materiality process described above.
Our most material issues make up our current sustainability framework, illustrated below.
For the Better
For the Better 2030
In 2019, as a result of our materiality process (read more at Stakeholders inform our approach), our sustainability framework was updated and will be applied from 2020. The illustration below shows our updated sustainability framework, For the Better 2030, where our priorities are shaped by our current material issues.
Electrolux
Electrolux is a leading global appliance company that has shaped living for the better for more than 100 years. We reinvent taste, care and wellbeing experiences for millions of people around the world, always striving to be at the forefront of sustainability in society through our solutions and operations. Under our brands, including Electrolux, AEG and Frigidaire, we sell approximately 60 million household products in approximately 120 markets every year. In 2019 Electrolux had sales of SEK 119 billion and employed 49,000 people around the world.
S:t Göransgatan 143
SE-105 45 Stockholm, Sweden