Materiality assessment

We define our most significant sustainability issues and opportunities by an ongoing materiality assessment, which identifies and prioritises issues based on two criteria: the impact or likely impact on the achievement of Vesuvius’ Strategic Objectives; and the impact or potential impact on Vesuvius’ stakeholders and their interests. 

Our assessment is informed by the principles of reporting articulated within the Global Reporting Initiative (GRI) Standards 2021.

Vesuvius materiality assessment

Materiality assessment process

Step 1

 – Survey of key internal and external stakeholders

 – Review of external agency ratings

 – Benchmark of current policies, targets, reporting practices vs peers and customers 

 – Interviews with senior managers and experts 

Step 2

 – Evaluation of current activities and reporting

 – Selection and definition of a broad set of metrics 

 – Assessment of capabilities 

– Selection of key KPIs covering the most important objectives 

Step 3 

– Identification of metrics and setting of targets by Group Executive Committee 

 – Approval by Board of Directors

Step 4

 – Strategy launch with Senior Leadership Group

 – Constitution of Sustainability Council

 – Deployment throughout the Group 

 Step 5

 – Ongoing dialogue with internal and external stakeholders 

– Building action plans and monitoring progress 

– Reporting of performance against targets and review of objectives  

– Monitoring events and trends within and outside the Company 

– Peer analysis

Stakeholder engagements 

Our regular dialogue with main stakeholders includes:

• Global communication mechanisms such as an intranet, global email communications and a Vesuvius news app, alongside forums such as local 'town hall meetings,

• Engaging with customers on safety leadership and supporting their training requirements, 

• Senior-level dialogue with all key customers, including Directors' visits to customers' sites, as appropriate,

• Customer relationships on a global basis as required, complemented by diverse local servicing capabilities,

• Engaging with government agencies visiting our sites and carrying out inspections,

• Responding to environmental research as part of customer and supplier due diligence, 

• Participating in environmental and social responsibility research and questionnaires.

Learn more about our Sustainability strategy and on how we engage with People, Communities and Customers.