Double materiality assessment

Introduction

Corbion uses the DMA to hear the voices of our stakeholders and identify material impacts, risks, and opportunities. The assessment informs our sustainability strategy, business planning, and risk management, as well as the content of our Annual Report.

The DMA considers two perspectives:

• The impact perspective (inside-out), which means investigating the impacts of Corbion and its activities on the environment and people, including on human rights.

• The financial perspective (outside-in) which means investigating the risks and opportunities that sustainability matters present to Corbion’s financial performance.

Our DMA is updated at least every five years, prior to the overall strategy update, with a light review conducted each year. Our DMA process in outlined in the following section.

Double materiality process

In 2023, we started our DMA in line with ESRS definitions and requirements. In 2024, we completed the DMA by incorporating new input from the organization and to reflect new insights shared with us by stakeholders or ongoing assessments (such as our due diligence process (new window)). The double materiality process followed a four-step approach.

For more information on the double materiality process and supporting information around the methodology (such as the scope of the assessment and the scoring), see Appendix 3: Additional information on our DMA approach (new window). The outcome of these steps was discussed with and validated by the Executive Committee, resulting in the final list of material topics and impacts, risks, and opportunities.

Our double materiality outcomes

Topic	Impact, risk, opportunity - topic	Value chain position	Impact	Financial	Time horizon	Link to full Impact, Risk, Opportunity (description in IRO table)
Climate	GHG emissions					Climate change
	Low-carbon solutions					Climate change; Our sustainable solutions
	Carbon pricing					Climate change
	Impact on crop yield					Climate change
Water	Water use					Water
	Water availability and quality					Water
Circular economy	Circular solutions					Our sustainable solutions
Biodiversity	Agriculture driver of biodiversity loss					Biodiversity
	Impact on crop yield					Biodiversity
	Alternatives to fish oil solutions					Biodiversity; Our sustainable solutions
Health and safety	Incidents					Health and safety
Human rights in the supply chain	Poor working conditions, child/forced labor in agriculture					Human rights in the supply chain
Human capital	Talent attraction, retention, and people development					Human capital
	Diversity, equity, and inclusion					Human capital
Consumer health and product safety	Solutions for biomedical, pharma, nutrition, and food safety					Consumer health and product safety; Our sustainable solutions
	Product contaminations					Consumer health and product safety

Main changes compared to version published in Corbion's 2023 Annual Report:

• Data security with the associated ‘Risk of cybercrime could lead to business interruption and high costs as well as reputation damage’ has been removed due to not being a sustainability matter, however is included in Risk management (new window).

• Subtopic Waste has been removed from the circular economy topic, as Corbion produces low amounts of waste and, based on our life cycle assessments, the environmental impact of waste is <1% for the environmental impact categories considered. Moreover, the financial impact is not material.

These results form the basis for Corbion’s 2024 Annual Report and Sustainability statements.