Hållbarhetsteamet is proud to have supported Axjo Plastic in the implementation of the double materiality analysis (DVA) according to the CSRD (Corporate Sustainability Reporting Directive).
The need
Axjo Plastic found themselves in a situation where they felt unsure about how to approach the CSRD directive and DVA implementation. Lacking the necessary tools and resources to drive the process forward on their own, they turned to us at Hållbarhetsteamet. Axjo chose early on to take a proactive approach to the upcoming legal requirement, making sure to do things the right way, in the right order.
For us at Hållbarhetsteamet, it is fantastic to work with a company that has a desire to be at the forefront, whose business model fits into the sustainable society of the future, and where both management and employees have been committed and involved from day one.
The mission
We started our cooperation by ensuring the right skills of the staff involved, through training on CSRD and ESRS, and a detailed training on the implementation of DVA.
The first step of the DVA was to conduct business intelligence and industry analysis for Axjo. The purpose was to capture issues, challenges and future requirements related to sustainability, both globally and within their industry, which may affect Axjo in the short and long term.
After training and theory, it was time to get practical. The process was divided into a few different workshops where we worked together:
- Mapped, identified and weighted Axjo’s key stakeholders.
- Analyzed Axjo’s value chain to identify risks and opportunities.
- Performed climate scenario analyses based on two of the scenarios developed by the IPCC.
- Conducted IRO (Impacts, Risks, Opportunities) analysis.
During all workshops we provided tools and facilitation to facilitate the process.
The result
For a few months, Axjo has worked intensively with us to go through the double materiality analysis, trying to learn as much as possible in the meantime. Exciting conversations, discussions and questions have been raised during our workshops. This has led Axjo to arrive at a list of material issues.
The process has not been easy, as it involved many aspects that were completely new to many of the participants. But together we have learned a lot and achieved results. We are grateful for the feedback we received from Axjo, which helped us develop and improve our methodology and tools.
Next steps
Now the big work begins – to identify the gaps between existing work and the ESRS requirements based on the essential questions. Using our gap analysis tool, we will sit down and go through each area. Then we will summarize the current situation, and provide proposals for action.
It is then up to Axjo to identify and decide on targets and KPIs for each sustainability issue, but with guidance from both the standard and Hållbarhetsteamet.
What do Axjo themselves say?
How has our training and support helped you understand and implement the CSRD and DVA process?
As this is a new regulatory framework and we were not previously subject to sustainability reporting, we have needed a thorough understanding of the new requirements and processes. The trainings have been an important part of building the knowledge the organization needs to implement the DVA process.
What has been challenging, and how have you dealt with the challenges?
We have encountered some challenges, especially when it comes to the IRO analysis. To address these challenges, we have worked hard to be open and transparent with Hållbarhetsteamet. This has resulted in the IRO analysis tool being updated and we have been supported to complete it for the first time. It is important to remember that this is a living process, and we will develop it over time.
What would you say have been the biggest lessons or insights you have gained from implementing DVA under CSRD?
We have gained an understanding of how extensive the process of implementing the DVA under the CSRD is, and that the framework will not only affect companies covered by it. The work has given us insights that we are on the right track in our sustainability work, but also identified areas for improvement.
What would you like to send to the companies that are now starting the double materiality analysis?
Our advice would be to start on time and to involve many in the organization in the implementation. This will provide a more comprehensive perspective and increase employee engagement and motivation.
Our interaction with you at Hållbarhetsteamet has been a source of motivation and we have seen many benefits of having you as a support when we got stuck in the process. We also hope that our early involvement has enabled you to create functional processes in this extensive work.
Meliha Suhonjic
Sustainability Manager
Axjo Plastic
