Our materiality assessment helps us to identify our most important Responsible Business issues, risks and opportunities, taking into account business priorities and the views of our stakeholders. It informs how we focus our resources, and what information we choose to include in our Responsible Business reporting.
Double materiality assessment
We conduct regular materiality assessments to make sure we remain focused on the high impact issues for our business and our stakeholders. We worked with external experts to conduct a double materiality assessment in 2022. This considered a wide range of ESG topics from both a financial and an impact materiality perspective.
To align with a double materiality approach, survey respondents and interviewees were asked to provide their views on the extent of the impact that Kingfisher could or does have on the issues (Societal and Environmental impact or impact materiality) and the financial impact of the issues on Kingfisher (Business impact or financial materiality).
Climate change remained the highest impact issue, with sustainable products and forests also receiving a high-impact rating. All three issues were rated high, reflecting increased focus on these topics in the business and externally. Responsible sourcing was also identified as a high-impact issue due to the number of suppliers and global reach of the Kingfisher supply chain
We continue to monitor upcoming reporting requirements to evaluate expectations and impacts for Kingfisher. In 2024, we plan to update our double materiality assessment to futureproof our reporting approach, ensuring compliance with upcoming reporting requirements and alignment with the Corporate Sustainability Reporting Directive (CSRD) and standards issued by the International Sustainability Standards Board (ISSB).
For more information about our double materiality assessment, check out our: