Materiality assessment

Neles’ materiality assessment serves as a base for the sustainability agenda and defines the scope of sustainability reporting. The assessment identifies the most important sustainability topics for Neles and its stakeholders, such as employees, customers, suppliers, shareholders, and business partners. The results highlight the actions we need to take to meet our stakeholders’ expectations.

Our goal within the sustainability sphere is to be a reliable partner offering sustainable solutions. We conduct materiality assessments to find the right direction for our sustainability agenda and to focus on the expectations our stakeholders have. Likewise, our impact on society plays a crucial role in defining our sustainability priorities. We continuously consult our key stakeholders to evaluate the materiality of various environmental, social, and economic topics to our business. 

The most recent materiality assessment was carried out in 2018, when Neles was still part of Metso Group. Now we are conducting our first assessment as an independent company, and we intend to repeat the process every few years, as the global sustainability scene is constantly changing.

What materiality means to Neles

A topic is material to Neles when it meets two criteria:

  1. Neles’ ability to make a considerable impact on the topic.
  2. The topic is important to our business or to our stakeholders.

This means material topics are those that reflect our significant economic, environmental, and social impacts, risks, and opportunities, or that substantively influence the assessments and decisions of our stakeholders. Materiality determines which topics are important enough that we need to report on them. Not all topics are equally important, and the emphasis within our sustainability reports, communication, and agenda reflect their relative priority.

How the materiality assessment is done

First, we collect potential material topics, trends, and drivers from various sources, such as internal documents and reports, stakeholder and industry materials, standards and frameworks, international agreements and principles, as well as benchmarking materials and legislative requirements. Then we categorize the topics and ask for our stakeholder’s views regarding the impact and importance of the topics. For this, we use quantitative online surveys and qualitative interviews, as well as our existing channels for stakeholder engagement. Next, the input is analyzed, and the topics are prioritized according to their importance to both Neles and its stakeholders. Finally, the results are evaluated in a workshop with internal experts and key internal stakeholders, followed by validation from Neles’ Management team.

The process involves internal stakeholders, like employees and contractors, as well as external stakeholders, such as customers, suppliers, shareholders, investors, researchers, media, and NGOs.

The assessment process follows the GRI Standards and the EU Guidelines on non-financial reporting.

Materiality assessment results

Based on the most recent materiality assessment from 2018, when Neles was still part of Metso Group, the sustainability agenda comprises three focus areas: Health and safety, Environment, and Society and People. The most material topics defined by the ongoing materiality assessment will be presented on this page when ready.

Read more about sustainability at Neles