Materiality assessment

The materiality analysis has served as an important input to SSAB’s sustainability strategy and targets as well as to our work to define the scope and boundaries of SSAB’s sustainability reporting. The materiality analysis is based on input from external key stakeholders such as customers, suppliers, investors, NGOs, industry associations and internal experts.

In 2019, SSAB conducted a new materiality analysis to determine our most relevant and material sustainability topics to define a new sustainability strategy and targets, as well as the content of SSAB’s GRI reporting. Material topics were identified and prioritized in a process that involved external and internal stakeholders. The GRI principles – stakeholder inclusiveness, sustainability context, materiality and completeness – were taken into consideration throughout the process.

As a first step, SSAB conducted a background analysis to identify industry trends and global drivers. This analysis, as well as SSAB’s previous materiality analysis (2014) and existing SSAB’s sustainability strategy, served as a basis to identify relevant topics throughout SSAB’s value chain.

As a second step, the topics identified in the background analysis were evaluated and ranked according to importance from the perspectives of both SSAB and external stakeholders. This was done through interviews with external stakeholders (customers, suppliers, investors, NGOs and industry associations) and an online survey with key external and internal stakeholders to further prioritize the topics. The results of the dialog with internal and external stakeholders were evaluated in workshops with internal experts, and confirmed by SSAB’s Group Executive Committee.

The most material topics defined based on this materiality analysis out of 37 analyzed sustainability topics were the following:

  • Lower energy consumption/Higher productivity for customers
  • First in fossil-free steel
  • GHG emissions (CO2e)
  • Circularity (Residuals/by-products)
  • Occupational Health & Safety
  • Process safety
  • Business ethics
  • Responsible sourcing
  • Diversity and Inclusion

These topics are presented in SSAB’s renewed sustainability strategy and targets.