Appendix 3: Additional information on our DMA approach

Context and scope

The scope of our DMA extends beyond financial reporting. We identified and assessed sustainability impacts, risks, and opportunities across our entire value chain, encompassing, suppliers, clients, and consumers.

For our upstream supply chain, we looked at the most important raw materials based on spend, such as sugarcane, corn, wheat, lime, sulfuric acid, vitamins, enzymes, minerals, emulsifiers, and antioxidants. Our main regions are Europe, US, Brazil, Thailand, and China.

Corbion’s own operations consist of a worldwide network of sales offices, distributors through which we market our products, and a global supply chain that includes manufacturing facilities in the US, Thailand, Brazil, Mexico, the Netherlands, and Spain. Our innovation centers are located around the globe, and our headquarters are in the Netherlands.

For downstream, Corbion looked at sales per region (US, EMEA, Asia, and Latin America). For more information on the scope of our activities, see Our value chain (new window).

Internal controls and governance in the DMA process

In our double materiality assessment (DMA) process, key decision points included determining which internal and external stakeholders to involve, selecting the topics and impacts, risks, and opportunities (IROs) to score, conducting the final evaluation of sustainability matters, and approval by the Executive Committee. Internal controls were applied at each stage to ensure the reliability and integrity of the process.

Identification of topics and associated impacts, risks, and opportunities

This involved conducting desk research and preparing a list of topics. Sources included various sustainability standards (Global Reporting Initiative, Sustainability Accounting Standards Board, European Sustainability Reporting Standards), the World Economic Forum’s Global Risks Report 2023, benchmarks, peers, industry reports, impact assessments, and customer questionnaire results. A shortlist of topics was derived from the initial list through internal interviews and considering the frequency of occurrence in desk research.

Assessment of topics and associated impacts, risks, and opportunities

Impact and financial materiality

To assess the impacts associated with each topic, we followed the steps outlined below:

1. Interviewing key internal and external experts to gather qualitative insights on impacts, and their severity and likelihood and to gather qualitative insights on risks and opportunities.

For impact, the following experts were interviewed:
-Interviewing key internal and external experts to gather qualitative insights on impacts, and their severity and likelihood and to gather qualitative insights on risks and opportunities.
-Internal experts who were involved in the process had specific knowledge of Corbion’s social value assessments, life cycle assessments, climate and nature, human rights, and human resources.
For risks and opportunities internal experts from strategy, risk, operations and finance were interviewed.

2. Each expert provided a preliminary score on the impact or financial effect of a risk or opportunity and the likelihood of occurrence. This preliminary score was then validated and, if needed, adjusted in an expert session.

3. An expert session was organized to calibrate the results and determine the threshold.

We used the following criteria to assess impacts:

Severity
Scoring	Scale	Scope	Irremediability
	How grave is the impact?	How widespread is the impact?	Whether and to what extent could the impact be remediated?
Minor	Impact is minor	Limited scope	Relatively easy to remedy
Low	Impact is low	Concentrated	Remediable with effort
Medium	Impact is medium	Medium scope	Difficult to remedy
High	Impact is high	Widespread	Very difficult to remedy
Significant	Impact is significant	Global	Non-remediable

Likelihood
Scoring	Description
Highly unlikely	Context suggests highly unlikely to happen BUT effective mitigation measures in place
Unlikely	Context suggests unlikely to happen BUT effective mitigation measures in place
Possible	Context suggests possible to happen AND limited effective mitigation measures in place
Likely	Context suggests likely to happen AND no/ineffective mitigation measures in place
Highly likely	Context suggests highly likely to happen AND no/ineffective mitigation measures in place

The financial materiality scoring was aligned with Corbion’s internal risk management methodology. Corbion used the following criteria to assess risks and opportunities:

Financial impact
Scoring	Description	Impact value in EBITDA
Insignificant	Expected financial loss or gain is insignificant due to strategic, operational, compliance, and/or reputation risks or opportunities	< EUR 500K
Minor	Expected financial loss or gain is low due to strategic, operational, compliance, and/or reputation risks or opportunities	EUR 500K – 3M
Average	Expected financial loss or gain is medium due to strategic, operational, compliance, and/or reputation risks or opportunities	EUR 3M – 15M
Major	Expected financial loss or gain is significant due to strategic, operational, compliance, and/or reputation risks or opportunities	EUR 15M – 75M
Catastrophic	Expected financial loss or gain is catastrophic due to strategic, operational, compliance, and/or reputation risks or opportunities	> EUR 75M

Likelihood
Scoring	Description	Likelihood of occurrence
Very low	Event will not occur in the next 10-30 years/Never occurred within Corbion	< 10%
Low	Event will probably occur within the next 5 years/Occurrence within Corbion more than 5 years ago	11-40%
Possible	Event will probably occur within the next year/Incident has occurred within Corbion last year	41-60%
High	Event will probably occur multiple times the next year/Incident occurred more than once last year within Corbion	61-90%
Highly Likely	Event is almost a given fact/Incident occurs regularly	> 90%

In 2024, impacts, risks, and opportunities were assessed individually with the topic score from the 2023 assessment used as a starting point. Impacts were assessed on severity (scale, scope, and irremediability) plus the likelihood of occurrence.

Irremediability was only assessed for negative impacts. Likelihood was only assessed for potential impacts that might occur in the future. For human rights impacts, the severity of the impact took precedence over the likelihood – meaning that even unlikely human rights impacts are considered material if they are severe enough.

Time horizons

For both impact and financial materiality, Corbion has defined the time horizons as short, medium, and long term. This is in line with the definition outlined in the ESRS, which defines these horizons as follows:

Short term: 1 year
Medium term: >1-5 years
Long term: >5 years

Topic boundaries

Corbion used several sources of information to identify sustainability impacts, risks, and opportunities and to define topics, allocate sub-topics, and determine topic boundaries. Several internal and external sources covering the value chain and short-, medium- and long-term time horizons were included. Corbion selected sources that provided a mix of:

Activities in the value chain
Perspectives (financial vs. impact)
Internal and external sources
Time horizon (short, medium, and long)