HKFoods' responsibility programme is based on double materiality assessment. We conducted a double materiality assessment in accordance with ESRS standards on material impacts, risks and opportunities for the first time in 2024 and updated the assessment in 2025. The significant impacts, risks and opportunities identified in the assessment are summarised below.
Assessment process
The assessment was supported by the EFRAG guidance on double materiality assessment work. The material impacts, risks and opportunities were reviewed in internal workshops attended by a wide range of personnel from different functions: HR, administration, risk management, procurement, industrial sales, innovation and quality unit, finance, the environmental team, primary production procurement and development, the corporate responsibility team and communications. In addition, the views of external stakeholders were taken into account through various studies, analyses and dialogue with primary production operators. In the first stage, topics irrelevant to HKFoods' business and business environment were excluded. In the second stage, the magnitude of the impacts, risks and opportunities of the remaining topics was assessed. The impact assessment determined the severity of the sustainability topic: scale, scope, irremediable character and likelihood. For the financial impact, the sustainability topics were assessed based on the duration of their impact, their financial impact and the likelihood of the event. The assessment of financial materiality was based on the euro-denominated risk rating used in the company's risk management process. The topics, risks and opportunities material to the Company were discussed and approved by the Group Executive Team, Audit Committee and Board of Directors.
Further information on the impacts, risks and opportunities, as well as the assessment process are presented in Sustainability Statement 2025.
