GRI Report of the Comet Group
Materiality analysis
For fiscal year 2021, we are for the first time presenting an integrated annual report and a separate GRI report that provide information on both our financial and our non-financial performance in the reporting year. The content of the GRI report is based on an assessment, known as materiality analysis GRI 102-46, GRI 102-47), of those issues in our value chain that have the greatest impact on the environment, society and the economy in the medium and long term.
The material topics shown above were developed in three steps. First, from a large number of topics, a shortlist of possible material issues was drawn up with the support of outside experts. This selection was made on the basis of the Comet Group’s corporate profile. In the second step, a materiality analysis in accordance with GRI standards was carried out in an expanded project group. As part of this analysis, the topics were assessed in terms of their relevance to stakeholders, their impact on the sustainable development of the company and – as a third dimension – their relevance for value generation. This three-dimensional approach ensures that the results support not only corporate reporting but also strategy development. In the final step, the draft materiality matrix was discussed, adapted, and approved by the Executive Committee.
This first-ever materiality analysis was performed without the involvement of external stakeholders, but with support from recognized external experts. In order to take into account the perspective of the various stakeholders on a proxy basis, employees from all levels of the organization, from all divisions and from a variety of other functions were included in the process.
As a result of this process, the 15 topics shown above were identified as material. More information on the individual topics is provided in the relevant sections of the annual report and in the GRI report.
To improve performance on our material topics, we closely partner with Comet’s stakeholders. Our key stakeholders are our employees, customers, suppliers, and shareholders (GRI 102-40). Some of these stakeholders have a direct impact on the improvement of material issues, while others are impacted by our actions (GRI 102-42). We are therefore in regular communication with those stakeholders, in some cases on a daily basis. Typical interactions include quarterly “all hands” conference calls between the CEO and CFO and the employees, interactions on the Yammer social networking platform, regular meetings and calls with customers and suppliers, investor conferences, capital markets days with financial analysts and shareholders, and the annual shareholder meeting (GRI 102-43). In 2021, interactions with stakeholders resulted in management actions such as increasing inventories to manage supply chain issues, virtual installations of x-ray systems, and the initiation of an ESG program (GRI 102-44).