In the further course of the analysis, HUGO BOSS analyzed the 21 individual aspects with regard to three categories:
The relevance of the issues to various stakeholders was assessed through an evaluation of stakeholder inquiries, Environment, Social, Governance (ESG) ratings, recent research findings, and media coverage.
Economic, environmental, and societal impact of the Company on the respective topics. These impact analyses were conducted in workshops. The results of the natural capital evaluation were also incorporated here.
Relevance of the respective topics for the Company’s success (analysis of business relevance). Like the impact analysis, this analysis was also conducted in workshops with the HUGO BOSS sustainability department and other relevant specialist departments.
As such, the materiality analysis satisfies the requirements of both the Global Reporting Initiative (GRI) and the CSR Guidelines Implementation Act (CSR-RUG). The results of the analysis are incorporated into the company’s ongoing strategic work. The individual fields of action implement the insights in their practice.
The results of the materiality analysis were approved by the managing board within the Sustainability Committee.