Double materiality assessment as the basis for sustainability efforts
Terveystalo has defined its material sustainability topics in collaboration with its key stakeholders. In addition to continuous stakeholder dialogue, the double materiality assessment conducted in 2023 serves as the foundation for Terveystalo’s sustainability efforts and the specification of the topics and information included in sustainability reporting.
Double materiality assessment
Terveystalo has defined its material sustainability matters in cooperation with its key stakeholders. In addition to continuous stakeholder dialogue, Terveystalo conducted a double materiality assessment in accordance with the principles laid down in the European Sustainability Reporting Standards (ESRS) of the Corporate Sustainability Reporting Directive in 2023 to identify Terveystalo's material sustainability-related impacts, risks and opportunities. The content of Terveystalo’s sustainability reporting was determined on the basis of the results of the double materiality assessment.
The double materiality assessment comprised two dimensions: the materiality of impacts and financial materiality. According to ESRS 1, a sustainability matter is material from an impact perspective when it pertains to the undertaking’s material actual or potential, positive or negative impacts on people or the environment in the short-, medium- or long-term. A sustainability matter is material from a financial perspective if it triggers or could reasonably be expected to trigger material financial effects on the undertaking.
To identify the material impacts related to sustainability maters, Terveystalo's materiality assessment process assessed Terveystalo’s actual and potential negative and positive impacts over different time horizons, and the views of different stakeholders were taken into account to identify and assess the impacts. Each sustainability matter with a material impact was also assessed with regard to whether it triggers or could potentially trigger material financial effects on Terveystalo.
Terveystalo will update its double materiality assessment in 2025 in accordance with the ESRS requirements. The key results of the human rights impact assessment carried out in late 2024 will be taken into account in the update of the double materiality assessment and the development of the company’s due diligence process in 2025. The assessment of climate-related environmental impacts will also be expanded to cover the supply chain more comprehensively in 2025.
The process and its results are described in detail in Terveystalo's Sustainability statement 2024 (part of Annual Report 2024, starting on p. 78)
Terveystalo’s material sustainability themes and topics
Based on the material impacts, risks and opportunities identified in the double materiality assessment, Terveystalo’s material sustainability themes and matters are:
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Superior customer value through integrated care (ESRS S-4: Consumers and End-users) |
Engaged team |
Ethical business |
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