Increasingly, stakeholders are looking beyond the financial performance of a company to its overall impact on the economy, environment and society in general. Idorsia takes a proactive approach in responding to these expectations. In 2020, we set out to develop a tailored sustainability reporting strategy and framework for Idorsia.

To lay the foundations for our sustainability reporting – also known as non-financial or environmental, social & governance (ESG) reporting – we conducted a so-called materiality analysis and associated stakeholder engagement activities.

To begin with, we prepared a comprehensive list of both internal and external stakeholder groups that have an interest in Idorsia becoming a sustainable company, based on our contribution to value creation. We also identified the “material” topics that will be key to our success. We then engaged representatives from seven groups indicated in bold in the infographic – chosen because of the high impact they have on our immediate business needs – to validate and prioritize the topics that had been identified.

The materiality analysis, based on the quantitative and qualitative assessment of the stakeholder engagement process, revealed the priorities as noted below.

Idorsia takes a pragmatic approach to sustainability reporting. We will report on all 12 topics that were identified as being key to our sustainable future and of greatest interest to our stakeholders. We want to meet the expectations of our stakeholders, providing the desired information in an engaging format. We will ensure that our efforts and progress with the high-priority topics are described in greater detail, and the Business Report 2020 already provides greater transparency on these topics.

We are working towards reporting in accordance with the Global Reporting Initiative (GRI) standards, beginning with the Core option and becoming more robust, by providing additional performance indicators and setting ourselves targets as we grow. We may use additional standards – such as those of the Sustainability Accounting Standards Board (SASB) – to support the reporting of sector-specific topics.