HMTX Industries conducted its first Materiality Assessment in 2022 to establish short- and long-term goals for its Environmental, Social, Governance & Resilience (ESG&R) efforts.
“Because this is our first materiality assessment, the answers serve as a roadmap to help inform our ESG training and awareness programs and help align common goals with our stakeholders," said Rochelle Routman, chief sustainability and impact officer, HMTX.
The assessment process helps define the issues advancing a company’s ESG&R strategy that are material to its business, from sustainability and energy management to climate change and diversity and inclusion programs.
After gathering information via a survey to identify stakeholder priorities, both internal (employees) and external (customers along with business, media, and non-profit partners), the Materiality Assessment process established short- and long-term goals for the organization that can yield actionable, measurable results. In the survey, stakeholders rated the relative importance of environmental, social, governance (ESG) topics on a scale to identify how familiar they were with these topics and how relevant they could be to HMTX’s business, to shape a collective approach and future reporting initiatives.
Product safety and transparency was consistently identified as the most important topic by both external and internal stakeholders. The other two most relevant ESG issues identified in the assessment were environmental issues such as circularity and material use, and social issues such as health & safety of the workplace. The assessment also revealed opportunities for growth in the process.
“We decided to issue the Materiality Assessment as soon as we had the results so that we could share them with stakeholders and the public," Routman said. "The results show that HMTX Industries is on the right track in terms of our focus areas, and this will be emphasized in our comprehensive ESGR report, which we plan to issue in early 2023.”
To learn more, visit hmtx.global/materialityassessment/.