Identifying material topics

In 2016, we conducted a materiality assessment to update our sustainability focus areas and topics. Those have been aligned with the new phase in KONE’s strategy, “Winning with Customers”, launched in January 2017.

To conduct the materiality assessment, we analyzed industry and peer group reporting and developments to legislation. Furthermore, we conducted an online survey, as well as interviews with stakeholders and KONE’s Executive Board members. An online questionnaire was sent to over 250 respondents, including customers, investors and analysts, industry associations, public authorities, suppliers, employees, media representatives and educational institutions.

The response rate to the questionnaire was 42%, amounting to 106 responses. In addition, 20 stakeholder representatives were interviewed to improve our understanding of their views on KONE’s sustainability approach.

The identified topics were then ranked with regards to their impact on our value chain business implications and stakeholder interest. Based on the results of the materiality analysis, we updated KONE’s sustainability focus areas, which were then approved by the President and CEO and the selected members of the Executive Board. This report is structured to correspond with the focus areas, and the results of the materiality analysis and prioritization are presented in our Sustainability Report.

We are currently in the process of conducting a new materiality assessment among our key stakeholder groups externally and internally. The results of the analysis will be reflected in our sustainability work, and reporting 2020/21 onwards.