Materiality | Sustainability

In 2023, we conducted ABB’s first double materiality assessment to better understand how we can ensure the financial resilience of our business while also contributing to a more sustainable, resource-efficient and socially progressive future.

Our double materiality assessment gave us a clearer picture of the impact that our business has on the economy, the environment and society including people, and it helped us understand the risks and opportunities that the economy, the environment and society pose for our business. The assessment also took account of the main regulatory requirements and guidance on reporting standards.¹

To conduct our materiality assessment, we solicited feedback from around 60 key internal stakeholders at global and local level as well as functional and subject matter experts. We also reached out to more than 1,400 external stakeholders including collaborative partners, customers, governments and civil society, representatives of the investment community and suppliers, and received over 300 complete responses. The results are summarized in our materiality matrix 2023, which identifies 10 material topics.

Our materiality matrix

¹The regulatory requirements and guidance on reporting standards that informed our materiality assessment include: the provisions of the amended Swiss Code of Obligations related to transparency on non-financial matters, the European Sustainability Reporting Standards (ESRS), Global Reporting Initiative (GRI), the Integrated Reporting Framework (IR), IFRS Sustainability Disclosure Standards, SASB Standards and recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

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Our materiality matrix

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