General information

Basis for preparation

This report gives an overview of Corbion’s main sustainability developments and results in 2024. Based on our double materiality assessment (DMA), we have determined the topics that are material to our stakeholders. For more details, see DMA section (new window). This report has been prepared under the July 2023 version of the ESRS.

Appendix 1: Content index (new window) shows the disclosure requirements under the ESRS and the references to the section in the report where these are disclosed.

Boundaries

Corbion’s Sustainability statements are prepared on a consolidated basis at the level of Corbion nv. The scope and reporting period of the Sustainability statements is equal to the scope of the Financial statements. Where available, we have taken into account our value chain and business relationships, including our joint venture, TotalEnergies Corbion.

Data from divested companies (in 2024, the Emulsifiers business) is included in reporting figures up to the date of divestment, apart from KPIs related to SBTi targets, to ensure comparability.

No relevant pieces of information, related classified or sensitive information or information on intellectual property or results of innovation were omitted from these statements.

Sources of estimation and value chain data

Most of the quantitative data used to prepare this report comes directly from our systems. When data is unavailable, we use estimations and extrapolations based on experience and the best available information. Whenever alternative data collection methods have been used, these have been clearly described and disclosed in Appendix 2: Definitions (new window). This is mainly the case for scope 3 emissions data, for which we use a mix of supplier-specific data and estimates based on sector or industry averages. We are continuously working to enhance the quality of our input data and actively collaborating with suppliers and value chain partners to obtain accurate data for our CO₂ calculations. Currently, 37% of our scope 3 emissions are based on primary data.

Changes in preparation or presentation compared to prior period

As this is our first year reporting under the ESRS, we have reorganized the Sustainability statements accordingly. Several topics and related metrics that were included in previous annual reports are not material according to our DMA and therefore no longer included (see section Non-material sustainability topics (new window) for more information on excluded KPIs that had a target for which we had 20). Until 2023, Corbion prepared its annual report with reference to the GRI Standards 2021. Because this annual report follows the ESRS, we no longer report with reference to the GRI.

Prior-period errors

There were no errors in prior-year reporting that need to be disclosed.

Incorporation by reference

Some disclosures are incorporated by reference to other sections of this Annual Report, outside of the Sustainability statements. See the following table for the complete list.

Assurance on Sustainability statements

Our Sustainability statements are audited under limited assurance. See the Independent auditor’s report (new window). The Sustainability statements have been prepared in a context of new sustainability reporting standards requiring entity-specific and temporary interpretations.

The paragraph 'Sources of estimation and value chain data' identifies the quantitative metrics and monetary amounts that are subject to a high level of measurement uncertainty and discloses information about the sources of measurement uncertainty and the assumptions, approximations, and judgements the Company has made in measuring these in compliance with the ESRS.

The comparability of sustainability information between entities and over time may be affected by the lack of historical information in accordance with the ESRS. This allows for the application of different, but acceptable, measurement techniques, especially in the initial years.

In order to prepare the Sustainability statements, we have applied a due diligence and double materiality assessment process, including robust engagement with affected stakeholders. Due diligence is an on-going practice that responds to and may trigger changes in the Company’s strategy, business model, activities, business relationships, operating, sourcing, and selling contexts. The Sustainability statements may not include every impact, risk, and opportunity or additional entity-specific disclosure that each individual stakeholder may consider important.