INTRODUCTION
NOW AND NEXT
CIRCULAR ECONOMY
CIRCULAR DESIGN
CLIMATE
PEOPLE
COMMUNITIES
SUPPLY CHAIN
ESG DATA
APPENDICES
67
Stakeholder engagement Stakeholder
Who we engage
What they tell us
What we are doing
Customers
We equip our Sales, Marketing and Innovation teams to be able to support our customers with their sustainability challenges
Driven by consumer trends, customers want to compare product specifications to calculate the environmental impact of packaging, as well as assess our sustainability performance generally
• Designing with our Circular Design Principles • Utilising our Circular Design Metrics • Responding to sustainability data requests from customers
Investors
We engage with many of our largest shareholders, as well as some smaller shareholders, on topical issues of particular interest to them
Investors expect to see honest and transparent communication, primarily focused on carbon, forestry and water and the opportunity for DS Smith with sustainability as a growth driver across the packaging industry
• Showcasing our latest circular packaging innovations • Improving our performance in ESG ratings • Providing analysts with non-financial information
We involve colleagues in not only delivering but also making our sustainability plans, drawing on key expertise and skills from across the business both internally and through the European Works Council
Our people want to feel proud of their employer, that their personal values are reflected in their workplace and that they feel like they can make real impact and a difference in their job
• Equipping our people to lead the way in the circular economy • Regular employee survey and ‘pulse’ surveys which inform local action plans and sharing of best practice
We focus on engaging our strategic suppliers – those with whom we have long-term, mutually co-operative relationships with mutual commitment and mutual value operational capabilities
Suppliers want to know how they can support us in delivering our sustainability plans through the products and services we purchase from them
• Communicating our minimum supplier standards in our Global Supplier Standard, assessing supplier sustainability performance and helping them to improve • Identifying opportunities to collaborate and work in partnership towards tackling common sustainability challenges • Introducing suppliers to Circulytics
• European Commission and Parliament representatives • Country level government representatives, e.g. UK Government, Members of Parliament, ambassadors • Policy advisors and researchers • Local government representatives, e.g. mayors, councillors
The primary focus of regulators and policy makers has been on:
• Meetings with MPs about our local operations about relevant developments, e.g. energy security and supply, raw materials (such as starch) and external events such as the war in Ukraine and the impact on supply chains • Engaging on climate topics, including COP26 and emissions • Responding to a range of government consultations, typically through industry associations
Employees
Suppliers
Regulators and policy makers
DS Smith Sustainability Report 2022
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Covid-19 Climate Brexit Plastic packaging Waste Eco-design EPR (Extended Producer Responsibility)
Focusing on the issues that matter the most We regularly assess the materiality of issues to ensure that our priorities remain aligned to those of our stakeholders. An assessment conducted in 2019/20 was used to inform our Now and Next sustainability strategy, focusing on the issues that matter to our stakeholders and where we believe we can have the greatest impact. These were identified through dialogue with investors, customers and suppliers, competitors and peers, colleagues, NGO and pressure groups and regulators. In this most recent assessment, we found that several downstream issues relating to sustainable consumption of packaging were not well-reflected in our strategy. This led to a much stronger focus in Now and Next, responding to both internal and external stakeholder demand for new circular business models and solutions as a top opportunity and key differentiator. In 2021/22 and continuing into the new 2022/23 year, we have undertaken a refresh of our materiality assessment to ensure that we are listening and responding to the rapidly changing world around us in our dialogue with our stakeholders so that our priorities remain relevant and meet their expectations. The findings of our 2019 materiality assessment can be found on the following page, and we will share the findings of our 2022 materiality assessment in DS Smith Sustainability Report 2023.
For more information on our materiality analysis, turn to page 68
dssmith.com/sustainability
