Identifying relevant economic, environmental and social aspects

Sika has taken a long-term perspective on the development of its business. Through its products, systems, and solutions, Sika seeks to generate benefits for stakeholders that outweigh the negative consequences of the production process and resource consumption. An effective strategy, trust in the company, and the dedication of all employees are the pillars of Sika’s success. The Sika journey to global leadership is founded on the company’s entrepreneurial philosophy and the Sika Spirit, which is a synonym for the strong set of five values and principles that make up the DNA and culture of the company: customer first, courage for innovation, sustainability & integrity, empowerment & respect, and manage for results.

Sika considers the materiality analysis to be an important tool for identifying the most relevant economic, environmental and social aspects that are consistent with its business strategy, and to define the contents of the sustainability strategy according to the GRI-Standards. In terms of sustainability reporting, the aspects deemed as material (or relevant) are those that have a significant impact on the economic, social, and environmental performance of the company or that may substantially influence stakeholders’ perceptions and decisions. Accordingly, the materiality analysis is two-fold, as it takes account of the standpoint of the company and of its stakeholders.

Sika regularly reviews the materiality matrix to ensure that the sustainability agenda remains relevant as the business and theexternal context may be subject to changes (see GRI Standards). The company originally developed its sustainability materiality matrix in 2013 to identify and prioritize strategic target areas, based on extensive consultation with all stakeholders, through surveys and interviews with employees, customers, suppliers,investors and analysts, and NGOs, and some additional desk research.This shaped the six strategic target areas for the sustainability strategy.

Over the years Sika has developed metrics and targets in each strategic target area to measure the progress, and to meet the evolving expectations of stakeholders. Sika concentrates on the highest priority items in its Annual Report and gives a more detailed review in the annual GRI report. As a result of the review in 2015 the original findings were confirmed. The materiality of the topics was defined by taking into account:

  • The main sustainability topics raised by Sika’s stakeholders
  • The relevance for Sika’s core business- Potential reputational impacts
  • Potential of Sika to influence/impact the topic
  • Relevant laws and regulations, compliance
  • Sika’s risk management