Hermès // 2021 Universal Registration Document
CORPORATE SOCIAL RESPONSIBILITY BUSINESS MODEL
the impact that Hermès and its value chain have on the issues at a s global level, given their materiality (direct and indirect impacts given the Group’s image) (so-called “inside-out” vision). Hermès aligns itself in this way EFRAG’s 2021 recommendations on the harmonisation of the non-financial disclosure proposed by the European Green Deal and supported by the French government. This double materiality matrix also follows up on the work carried out for several years by the Sustainable Development Committee and the sustainable development department, together with the Executive Committee, and in collaboration with the audit and risk management department. It contributes to the risk analyses carried out at Group level. Identification, assessment and ranking of issues The 15 priority issues studied are the result of analyses updated internally every year since 2015 by an analysis of the main general CSR topics specific to the industry to which the Group belongs. They were then ranked in the form of anonymous questionnaires allowing considerable freedom of expression, conducted with a panel of more than 100 respondents: generalist internal stakeholders (senior management); s internal stakeholders with expertise in the subject, including the s sustainable development Operations Committee, the EHS 2. network, in France; internal stakeholders outside France, i.e. Sustainable development s correspondents in foreign subsidiaries (a quarter of the sample); a panel of external stakeholders identified for their knowledge of the s sector, the House and its operation (a quarter of the sample). The Sustainable Development Committee reviewed and validated the results of the consolidation of these questionnaires.
acting with urgency while taking the time to do things well: our s craftspeople do not like to put off until tomorrow what they can accomplish today. Hermès’ craftspeople, and by extension the House, see time as an ally, that enables them to work well, to integrate the internal or external challenges of all stakeholders, in order to see things in a balanced perspective. In the making of an object by hand, it is impossible to skip a step to save time, everything flows in continuity, everything is necessary. These modes of operation shape and determine the way projects are conducted. They encourage the implementation of responsible policies and practices, using a participative approach, blending exacting requirements and efficiency to obtain a high-quality end result. While considering changing and accelerating contexts, projects take into account the necessary rhythm for sustainable change among employees, partners and natural ecosystems. Urgency to act and hasty execution should not be confused. 2.1.3 As every year, Hermès updated the analysis of its priority CSR issues in 2021 to guide its actions and facilitate understanding of its strategy. For the first time, this “materiality analysis” study was conducted using the concept of double materiality, which looks at the two dimensions of value creation put forward by the European Union: financial value creation, which essentially affects investors, and the creation of environmental and social value, which has a broader effect on all the Company’s stakeholders. In line with EFRAG 1. recommendations, with the help of its stakeholders, Hermès ranked 15 priority issues from two perspectives: the materiality of the subject for Hermès’ business model, i.e. the s importance of these issues for the Group’s economic activity (so-called “outside-in” vision); MATERIALITY ANALYSIS
European Financial Reporting Advisory Group 1. Environment, Health and Safety 2.
54 2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL
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