20 2024 Sustainability Report Material topics The process of reviewing the material topics is fundamental to defining the content to be included in the reporting and the short-term and long-term sustainability goals, based on the organisation’s most significant impacts, taking into account possible changes resulting from variations in business activities and relationships. The process involves both an internal and an external context analysis. For the internal dimension, company documents such as the Code of Ethics, Management Review, Audit results, risks identified through Risk Assessment, and internal projects and procedures related to ESG areas were analyzed. For the external dimension, international reporting standards and frameworks such as the GRI 2021 Universal Standards, AA1000, SASB, and MSCI were reviewed, alongside a thorough benchmarking exercise against sector best practices. This year, we also considered the new structure introduced by the ESRS (European Sustainability Reporting Standards), aligning the identified topics with the list of sustainability issues included in the thematic ESRS. The impact assessment was conducted from an inside-out perspective, evaluating impact relevance across two key dimensions: magnitude and probability. Magnitude was measured on a scale from 1 (low) to 5 (extreme), taking into account the extent, scope, and, in the case of negative impacts, the level of irreversibility. Probability, also assessed on a scale from 1 (unlikely) to 5 (very likely), was applied exclusively to potential impacts.
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