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Identifying material topics

In 2019-2020, we conducted a materiality assessment to update our sustainability focus areas and topics. In addition to sustainability reporting, the findings of the assessment provided important information on stakeholder expectations, which we utilized when defining the current phase of KONE's strategy - Sustainable success with customers.

To conduct the materiality assessment, we conducted two anonymous online surveys, and phone interviews with key stakeholders.

A targeted online questionnaire was sent to over 350 recipients, including customers, investors and analysts, industry associations, public authorities, suppliers, employees, media representatives, educational institutions and non-governmental organizations, as well as selected KONE experts and KONE’s Executive Board members. Additionally, we conducted an open online survey to equipment users and all KONE employees.

The targeted and open online survey responses amounted to 148. In addition, a total of 17 stakeholder representatives were interviewed to deepen our understanding about their expectations on KONE’s sustainability approach.

The findings were presented to an internal group of topic experts who evaluated the significance of the impact we have on the environment and society, in the areas seen as material by the respondents.

Based on the results of the materiality analysis, we made the relevant updates to the ranking of KONE’s sustainability topics with regards to their impact on our value chain business implications and stakeholder interest. Based on the analysis, we updated and reduced the total number of topics included in our sustainability scope from 18 to 14. We also adjusted the contents of the reporting areas to better reflect our focus and raised ambition levels when it comes to sustainability, visible also in our current strategy phase. This report is structured to correspond with those areas. The updated framework has been in use from our 2020 report onward.

With the introduction of the new Global Reporting Initiative (GRI) Universal Standards, we reviewed our material topics together with our sustainability topic experts as well as KONE’s sustainability reporting steering. As of the KONE Sustainability Report 2022, the report has a tighter focus on topics that represent our most significant impacts on the economy, environment, and people, including impacts on their human rights.

To find our reports from previous years, please go to the archive list on News & Insights > Publications.

KONE SUSTAINABILITY REPORT

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