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:

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

In 2024, impacts, risks, and opportunities were assessed. Impacts were assessed on severity (scale, scope, and irremediability) plus the likelihood of occurrence. For the 2025 update see chapter Double Materiality Assessment under General information.

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.

In our risk assessment, connections between impacts, risks, and opportunities have been taken into account. The outcome of our DMA feeds into our general risk management assessment.

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)