Sustainability Report 2024
Our Materiality Assessment
Prioritising the Right Issues
We prioritise sustainability concerns relevant to our operations, enabling us to embed sustainability within our overarching strategy, manage business risks effectively, and ultimately generate mutual value for our Company and Stakeholders.
Key to Single Materiality Assessment
- Animal Health and Welfare
- Customer Satisfaction
- Trust and Transparency
- Wage Policy
- Human Rights
- Equality in the Workspace
- Integrated Climate Strategy
- Waste Management
- Plastic Leakage
- Community Involvement
- Philanthropic Activities
Our Assessment Process
In spring 2022, we conducted a materiality assessment to identify the most important Sustainability topics to us as a business and to our stakeholders. The results shaped our existing sustainability strategy, drove our engagement with stakeholders and helped us prioritise areas of focus, target setting and guide our reporting and disclosure moving forward.
In 2022 we performed additional desk based research from leading sustainability reporting frameworks and peers on those topics that were deemed to be important within our industry as well as obtaining feedback from investors and other stakeholders, including key management, on thematic sustainability topics. We surveyed 276 people from our six stakeholder groups and asked them to rank 31 sustainability topics in order of importance. The materiality assessment identified 11 topics.
Our focus has remained on these 11 topics which were deemed to be of most importance to our stakeholders. We have continued to engage with stakeholders, and during the 2024 financial year we engaged a third party to assist with a double materiality assessment, details of which will be disclosed in our 2025 financial year Sustainability Report.
Our Priority Issues
We are pleased with the progress we have made over the past 12 months on a number of our Making a Difference objectives. We are increasingly embedding Sustainability in to the wider business strategy and this level of integration can be seen in initiatives from the last year that have made a positive contribution to more than one area of our Sustainability strategy.
Two such examples are shown below, where we have outlined their interaction with our Sustainability pillars and topics.
Animal Health & Welfare
Our Purpose is the sustainable improvement of animal health and welfare globally. As such, the wellbeing of any animal used in the development of our products is always a top priority and we are committed to the responsible use and humane treatment of animals in all of our studies.
Equality in the Workplace
As a truly global business, we have an opportunity to harness the variety of skills, perspectives and experiences that our people can bring. This provides the opportunity to create positive outcomes for both the individuals who work for us, and the impact they can have on animal health.
