Defining what is essential in the next phase of strategy development
To define the detailed initiatives and actions we will undertake during the next phase of our journey towards leading performance, we started by consulting key stakeholder groups about the opportunities, issues and risks that we face as a company.
This evaluation not only incorporated insight from our customers, shareholders and employees, but also from other key stakeholders such as financial and regulatory bodies, relevant non-governmental organizations (NGOs) and leaders in the communities in which we operate.
We have also analyzed which topics will most likely provide us with a substantive opportunity to achieve our vision of leading performance. We then made sure to include initiatives and actions in our next steps that will either capitalize on significant opportunities, or mitigate the significant risks. We call the outcome of this filtering process our Integrated materiality diagram (see below). Key opportunities, issues and risks material to stakeholders are grouped into this framework using bullets. Items at the center are opportunities, issues and risks that we believe are also material to AkzoNobel’s strategy and, therefore, are addressed by our core principles and/or strategic focus areas.
Integrated materiality diagram
The remainder of this Strategic perfomance section covers our core principles and strategic focus areas, as well as our processes, strategy next steps and outlook for our customer end-user segments. For more information on how business opportunities and risks are addressed by our strategy, see the Risk management section. For more details about how sustainability opportunities and risks are addressed by our strategy, see Note 2 of the Sustainability statements. Information about financial and regulatory opportunities and risks can be found in the Other information section of the Financial statements.
For further information please see Sustainability on www.akzonobel.com