Materiality assessment

In 2021, a Group materiality assessment allowed us to fine-tune our understanding of the sustainability issues and opportunities most material to our key stakeholder groups, and therefore most strategic for our business. Recurring themes from this included: transparency and traceability across the entire value chain; increasing regulations and reporting obligations; biodegradability and waste management; more proactive engagement; and wider collaboration to understand and address the interconnected nature of issues. 

This exercise confirmed that our 2030 strategy and objectives resonate strongly with our stakeholders’ vision. The overwhelming message was a clear recognition of the progress we have made on sustainability, our solid disclosures, and commitment to transparency.

The insights gathered through the materiality assessment highlighted key areas for immediate and long-term focus:

• Transparency and traceability: Strengthening our ability to track and communicate progress across the value chain, building trust and accountability.
• Regulatory preparedness: Anticipating and adapting to increasing regulations, ensuring compliance while setting higher industry standards.
• Circularity: Promoting biodegradability, reducing waste, and supporting a circular economy to minimise environmental impact.
• Stakeholder engagement: Enhancing proactive dialogue and collaboration with customers, suppliers, and communities to address shared challenges.
• Systemic collaboration: Fostering partnerships to address interconnected global issues like climate change, biodiversity loss, and resource scarcity.

Reinforcing stakeholder trust

The feedback we received was unequivocal: our stakeholders value Croda’s leadership in sustainability, particularly our consistent and transparent disclosures and our strong alignment with their expectations. This positive reception not only validates our 2030 commitment but also challenges us to maintain this momentum and deepen our impact.

By addressing these material issues with rigor and ambition, we are confident in our ability to continue delivering solutions that balance economic performance with environmental stewardship and social progress.

Looking ahead

Our materiality assessment is not a one-time exercise but an ongoing process. As we adapt to new challenges and opportunities, we remain committed to integrating stakeholder insights into our sustainability journey. Together, we can accelerate the transition to a more sustainable, resilient future.