In 2022, we performed a double materiality assessment to gain insights into Sanofi’s impact on the external environment and its ESG risks and opportunities and to prepare for the upcoming CSRD regulation in the European Union.
The outcomes of this assessment will help inform our CSR strategy going forward. Below we present the main results of the internal and external stakeholder dialogue.
The following phases were performed:
Phase 1: Selection of relevant stakeholder groups and 16 material topics for consideration.
Phase 2: Interviews with internal and external stakeholders. The 16 material topics were grouped into bundles, and each stakeholder was assigned to one bundle, associated with his/her area of expertise. Stakeholders were asked their views on impacts, risks and opportunities for Sanofi regarding the topics in their assigned bundle. The outputs of the interviews were aggregated across all interviewees and summarized in factsheets, one for each topic.
Phase 3: Survey with selected members of Sanofi’s senior management to prioritize the 16 material topics. The factsheets were used as a pre-read, for management to have all relevant insights. The survey participants ranked the top five and bottom three topics with regards to:
- the impact of Sanofi on society from an economic, environmental, and people perspective (i.e., impact materiality), and
- the impact of society on Sanofi’s business value (i.e., financial materiality).
After consolidating the results from the survey, the following double matrix was obtained:
Double materiality matrix
The results of this assessment will support our preparations for the new European Corporate Sustainability Reporting Directive (CSRD) and will help to inform our CSR strategy going forward.