IR-media 27.6.2024

Double materiality assessment – A foundation for Gofore’s CSRD reporting

The process of making Gofore’s first Corporate Sustainability Reporting Directive (CSRD) compliant report has already started, and the extensive report is published as part of the non-financial information section of the Annual Report in the spring of 2025. Gofore prepared for the expanding and deepening reporting last year by carrying out a double materiality assessment that builds a solid foundation for CSRD compliancy.  

Double materiality assessment is an important method for companies to focus on material topics for them in their reporting, and a prerequisite of CSRD compliant reporting.  For example, it’s not material for an IT company to report on waste produced with the same pedantry as e.g. a company in the chemicals industry. The definition of materiality is that a topic is material if the company affects it in a positive or negative way, or it imposes risks or creates opportunities for the company.

The double materiality assessment project that was initiated in the fall of 2023 was completed early 2024. With our partner AFRY, we first defined Gofore’s value chain, then our most significant interest groups – employees, customers, investors, partners, and suppliers – and then interviewed the most significant ones. The interviews were fruitful and interesting, and confirmed our own hypothesis of what is material to us.  

Based on these hearings, we chose the sustainability themes material for Gofore from amongst the sustainability themes defined by the CSRD. Out of these, circular economy and the use of resources were selected to be included based on positive impacts and business opportunities. The same largely applies to climate change.  

The biggest financial risks were related to the theme ”consumers and end users”, as here, data security and privacy related matters are emphasised typically for the industry. Both the answers of other interest groups as well as Goforeans were well aligned with Gofore’s management views.

According to the assessment, from now on the double material reporting areas for Gofore are:

  • Own workforce
  • Workers in the value chain
  • Climate change
  • Circular economy and use of resources
  • Consumers and end users
  • Business conduct

Right now, preparing for CSRD compliant reporting encompasses defining DMA-based metrics and data points and collection of the data itself. The work on reporting has continued intensive throughout 2024 and will intensify this fall, as the auditors will already begin their audit work on the sustainability report.  

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“400 data points and going easy on yourself” – An interview with Gofore’s Chief Sustainability Officer Kristiina Härkönen

Emmi Berlin
IR & Sustainability Comms Lead

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