Hermès // 2021 Universal Registration Document
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CORPORATE SOCIAL RESPONSIBILITY BUSINESS MODEL
The Group’s mobilisation around animal welfare is consistent with its importance, underlined in this analysis, by the formalisation of a charter this year, and the strengthening of actions in the various supply chains concerned. As a societal issue, its communication to our stakeholders is also an issue. 2.1.4 As indicated in chapter 4 “Risk and control”, § 4.1, the Group carried out an overall analysis of its risks according to two axes, the magnitude of the multi-criteria impacts and the probability of occurrence. The materiality work carried out above made it possible to update this overall risk analysis, which distinguishes five major risk categories, three of which are more relevant in the non-financial field. The cross-reference table below illustrates the link between this risk analysis and the ten priority CSR issues identified by the materiality matrix. The non-financial issues taken into account also include the concepts of positive contributions and opportunities, which are more difficult to incorporate in the risk analysis. ANALYSIS OF NON-FINANCIAL RISKS
The prioritisation criteria have changed since 2020, meaning that changes from one year to another are more difficult to analyse. Nevertheless, we can note changes in relative positioning that call for the following comments. The issue of biodiversity has taken on greater importance, in terms of consideration of its impact on the Group’s business model, undoubtedly thanks to the training courses and work undertaken on the subject resulting in better understanding, and it confirms its priority place as a global challenge, a perception strengthened by major initiatives worldwide (IUCN Congress in Marseille, COP 15). The subject of climate change is still a little behind other subjects, reflecting the perception that the Group’s business model has a low carbon footprint in absolute value for the planet and is less subject than others sectors to its medium-term consequences. This vision is supported by the formalisation of clear and ambitious carbon emission reduction targets, validated by the SBTi.
Priority CSR issues
GROUP RISKS
4.1.1 Risks related to strategy and operations
4.1.1.1 Image and reputation
Responsible company
4.1.1.5 Management of talent and savoir-faire
Employee well-being and development Diversity and inclusion Savoir-faire and corporate culture
4.1.2 Industrial risks
4.1.2.1 Management of supplies
Sustainable materials and responsible sourcing
4.1.4 Risks related to social, societal and environmental responsibility
Climate change Biodiversity
4.1.4.1 Changes in major global climate and biodiversity issues 4.1.4.2 Availability and proper use of natural resources 4.1.4.3 Respect for human rights, fundamental freedoms and ethics
Eco-design and circular economy Animal welfare
Ethics and human rights
56 2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL
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