Using a Materiality Assessment to Engage with Key Stakeholders 

To tell a more compelling story, Black Sun advised that the starting point should be for CBMB to connect more intimately with its valued stakeholders. Black Sun thus conducted a materiality assessment on behalf of CBMB comprising desktop research, a stakeholder survey and focus group discussions.

The desktop research derived an extensive list of potential material topics, which Black Sun helped classify into 27 main material matters mirroring the nomenclature of those decided at the Carlsberg Group level Thereafter, Black Sun designed a stakeholder survey aimed at better understanding how CBMB’s key stakeholders would prioritise the 27 main material matters. Responses were collected from seven stakeholder groups. Black Sun then sought a more nuanced consideration of stakeholders’ views via focus groups and one-on-one interviews.

CBMB emerged from the materiality assessment with a keener understanding of the top concerns of its valued stakeholders’ groups, as well as an enhanced ability to map their concerns against Carlsberg Group’s sustainability ambitions and develop a more robust and meaningful sustainability and communication strategy.

An Integrated Annual Report with a Refreshed Narrative

Building upon the materiality assessment, new elements and a new format were then introduced to the 2022 Integrated Annual Report, which aimed to integrate stakeholders’ top concerns into the main storyline. The new elements include stakeholder case studies; a section that deep-dived into CBMB’s progress and ambitions on each of its 27 material matters; and more.

Given that CBMB had over the years adopted a myriad of frameworks substantiating headline sustainability commitments, Black Sun also proposed a new format to ensure a seamless and focused narrative. This meant clear links which showcased the interrelatedness between the different sections of the report such as Carlsberg Group’s ESG framework (Together towards Zero and Beyond); CBMB’s disclosures in reference to global frameworks such as the United Nations Sustainable Development Goals and Taskforce for Climate-Related Financial Disclosures; and even CBMB’s non-financial performance in accordance with the newly introduced Bursa Malaysia sustainability indicators. 

A Five-Month Long Process that Fostered Integrated Thinking

The entire process necessitated rigorous data gathering under a tight timeline. Black Sun thus set up a structure for CBMB which enabled it to quickly access and align the skillsets and knowledge of cross-functional teams within the organisation.

Through the five-month long project, CBMB managed to foster integrated thinking across its various functions, where each function gained insights on how their roles connect and overlap, and together help build up CBMB’s commitment to excellence and sustainability. This will surely pave the way for more organisation-wide collaboration on ESG and greater business efficiencies going forward.