Veikkaus – Double materiality assessment

Laying the foundation for strategic sustainability – Double materiality assessment for Veikkaus

To strengthen its strategic sustainability work and to prepare for CSRD sustainability reporting, Veikkaus partnered with Miltton to implement its first double materiality assessment. We also provided strategic sustainability training for Veikkaus’ Board of Directors and Executive Team.

Sustainability consulting and communication

Client: Veikkaus

Executive summary

The upcoming CSRD regulation requires companies to assess their double materiality. This assessment is an important tool for leadership to evaluate sustainability at a strategic level. CSRD mandates that companies report their sustainability impacts, risks and opportunities as they relate to value creation. In close collaboration with Veikkaus’ core project team, Miltton conducted the company’s first double materiality analysis (DMA) in accordance with the European Sustainability Reporting Standards (ESRS).

Output

Miltton performed a contextual analysis, which included extensive stakeholder engagement through surveys and interviews, as well as facilitated identification and assessment of sustainability impacts, risks, and opportunities together with key experts from Veikkaus. The process and results were validated by Veikkaus’ Executive Team. Veikkaus received clearly defined material topics, developed in full compliance with CSRD and ESRS requirements.

Strategic sustainability training sessions were provided to Veikkaus’ Board of Directors by Miltton’s expert advisors. These sessions covered detailed information regarding regulation and requirements, new responsibilities for the top management, potential consequences, and strategies on how to prepare. Veikkaus’ top management gained valuable insights on turning legislative requirements into strategic advantage.

Insight highlights

Groundwork for developing Veikkaus’ sustainability reporting to meet the requirements of upcoming EU regulations.
Identification of areas requiring development in sustainability reporting as well as in stakeholder communications.
Key takeaways on how to develop strategic sustainability advantages from legislative requirements

Cooperation with Miltton was professional, smooth and well-structured. We received valuable knowledge in our first ever DMA, and Miltton’s advisors helped us tackle complex issues in an understandable way. Our Executive Team and Board of Directors also gained important insights into strategic sustainability. We were very pleased with the well-run project and Miltton’s flexibility throughout the process.

Susanna Saikkonen

Vice President, Sustainability, Veikkaus

Results

As an outcome of the project, Veikkaus received a clear list of material topics aligned with ESRS categories, along with comprehensive documentation of the process. In addition, Veikkaus’ Board of Directors received training on the EU sustainability regulation and strategic sustainability.

Contact us

Heidi Kalmari

Senior advisor, Sustainability and Communications Miltton Finland +358 505 019 008 heidi.kalmari@miltton.com

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