5 September, 2024
Double Materiality: Our 360º ESG Impacts

Double materiality is a concept according to which companies must consider and analyze how their actions impact people and the environment -Impact Materiality-, but also how sustainability and climate change aspects can affect their financial performance -Financial Materiality-.

Conducting a double materiality analysis is the first essential step to comply with the new European Corporate Sustainability Reporting Directive (CSRD), which, in the case of Globalvia, will be mandatory at the beginning of 2026 to prepare the Sustainability Report for the year 2025.

The results of this analysis define how each company must apply the European Sustainability Reporting Standards (ESRS), and which headings and indicators must be reported mandatorily.

With this exercise, we address the growing demand for transparency from investors, who seek not only financial returns but also risk mitigation and a commitment to ethical and sustainable business practices.

To be prepared for this moment, during December and January, we anticipated the requirement by conducting a comprehensive Double Materiality analysis. For this purpose, almost all areas of the company and our most relevant stakeholders were involved, and the main Impacts, Risks, and Opportunities (IROs) related to Globalvia were identified and evaluated. The results of the evaluation of these IROs indicate whether each ESG topic and subtopic is material in the impact dimension, the financial dimension, or both.

Globalvia-materiality-impact

The analyzed topics cover the three ESG aspects (environmental, social, and governance): from energy and emissions management to worker and value chain management, including the relationship with affected communities and corruption prevention.

The analysis results conclude that the material subtopics for Globalvia, as an actor in the infrastructure and sustainable mobility sector, are:

  1. Prevention of corruption, money laundering, and bribery.
  2. Carbon emissions.
  3. Resilience to macroeconomic and sociopolitical changes.
  4. Employee safety, health, and well-being.
  5. Safety, health, and well-being in the value chain.
  6. Cybersecurity.
  7. Contribution to local and social development.
  8. User experience.
  9. User health, road, and rail safety.
  10. Energy efficiency and energy consumption.
  11. Climate change adaptation.
  12. Human rights, fundamental freedoms, and democratic principles.
  13. Talent retention, equal treatment, and opportunities for all.
  14. Equality, human rights, and social justice in the value chain.
  15. ESG criteria in the supply chain.

These aspects are consistent with those obtained in previous materiality analysis exercises and align with our business vision and sustainability strategy: SustaiMobility 2024. From an environmental perspective, we contribute to the transition towards a low-carbon and climate-resilient economy. On a social level, we highlight the importance of complying with human rights, and the safety and health of all stakeholders, as well as our relationship with our users and the communities in which we operate. Transversally, we reinforce due diligence and transparency mechanisms. All this extends our good practices throughout the supply chain.

By addressing these issues, Globalvia aligns its activities with the Sustainable Development Goals and strengthens trust among our stakeholders. This perspective translates into a competitive advantage and greater long-term value for our shareholders.

In conclusion, double materiality represents an essential change in how companies evaluate and disclose their performance, recognizing the importance of both financial and environmental, social, and governance aspects. This comprehensive approach not only responds to regulatory and investor demands but also drives a more sustainable mobility business model, to which Globalvia is faithfully committed.

Sustainability and Climate Change Team at Globalvia Madrid.