Our approach to Materiality
Our approach to Materiality
The chocolate and cocoa value chain is characterized by its complexity and structural challenges, making it crucial to effectively identify and address key areas for achieving impacts. In 2023, Barry Callebaut conducted a comprehensive double materiality assessment to better understand and prioritize these areas. This process involved extensive engagement with a wide range of stakeholders. Their feedback and insights have been integral to ensuring that our approach aligns with both the realities of the cocoa sector and the expectations of our stakeholders.
The purpose of our materiality assessment extends beyond compliance with reporting standards. It serves as a strategic tool, helping us to prioritize and report relevant sustainability issues systematically.
Results of Barry Callebaut’s Double Materiality Assessment, 2023
Our 2023 double materiality assessment reinforces our focus on Prospering Farmers, Human Rights, Thriving Nature, and Sustainable Ingredients. Barry Callebaut's Forever Chocolate strategy is fluid, recognizing that our understanding of a sustainable chocolate supply chain is both deepening and evolving.
The results showed that our 'Forever Chocolate' strategy is adapting in tandem with stakeholder expectations and is prioritizing areas where significant impacts and risks have been identified. A prime example of this is our revised goal to achieve complete traceability to the farm level within our supply chain by 2030. This includes both certification and verification processes, an issue which was highlighted as crucial from both stakeholder and impact perspectives in our materiality assessment.
A clear consensus emerged around five standout topics as being material:
- Supply Chain Traceability
- Climate and Energy
- Biodiversity and Ecosystems
- Workers in the Value Chain
- Affected Communities
Throughout the assessment, these topics consistently emerged as priorities, from a stakeholder, impact and financial perspective. The material topics were approved at the Board of Directors' meeting in April, 2023.
Materiality matrix
