Annual Report 2010 - Outokumpu

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Developing Outokumpu's corporate
responsibility strategy with
materiality analysis
During the autumn of 2010, a materiality analysis was carried out within Outokumpu to ensure that the Group focuses its
corporate responsibility efforts on the right issues. Analysing materiality in corporate responsibility is a process which
involves determining the relative significance of different issues, which can make a major difference to an organisation's
performance. Materiality analyses help to identify, prioritise and address risks, and also in the identification and
exploitation of opportunities. The materiality analysis process in Outokumpu was supported by KPMG.
A list of some 150 issues was compiled based on internal interviews with experts and extensive material gathered from
stakeholder dialogues, panels, international stainless steel benchmarking results (ISSF), media searches, the 2009
Outokumpu Annual Report and surveys of Group personnel. Members of the Outokumpu Corporate Responsibility
network, an external network for stakeholders, were encouraged to comment and assign priorities to the listed issues.
The results of the materiality analysis revealed no surprises. Issues of high significance to both Outokumpu and our
stakeholders are ones that have been on the Group's agenda earlier: energy and materials efficiency, our environmental
footprint, ethical business conduct, safety, renewable energy sources, attracting and retaining talented individuals,
sustainable applications and opportunities for stainless steel and sustainable procurement (including the raw materials
we use). One new issue which was assigned medium significance by both Outokumpu and our stakeholders did emerge,
this was 'Changes in legislation and taxation'.
Outokumpu Annual Report 2010 – Outokumpu – Materiality analysis