For one, efforts made by legislators and associations to standardise data and, for an- other, transparency requirements imposed by national or regional initiatives. Examples of standardisation efforts are the Ecodesign for Sustainable Products Regulation (ESPR) at the product level and the Energy Perfor- mance of Buildings Directive (EPBD) at a building level. In order to comply with these updates and meet customers’ resulting requirements, the environmental impact of products is systematically documented by independently validated environmental product declarations (EPDs). The progress made by the Zumtobel Group in improving its sustainability performance can be seen, for example, in the external EcoVadis rating. In the transition to a decarbonized econo- my, potential risks are met with significant opportunities. The material internal and external issues identified did not give rise to any material risks from transition events with a significant impact on the Zumtobel Group’s assets and business activities. The risks associated with transition events have been considered and assessed up to a time horizon of ten years. Corresponding actions are defined and planned and are implemented on an ongoing basis according to the priorities set. No noteworthy changes in climate-re- lated impacts have been ascertained in the climate scenarios applied for this period. No assets and business activities have been identified that are incompatible with a transition to a climate-neutral economy or that would require significant effort to be compatible with a transition to a climate- neutral economy.
Potential impacts such as damage to assets, disruptions in procurement, or production stoppages are taken into account. An ana- lysis of the long-term climate scenarios showed an increase in the number of hot days, dry periods and an increase in the number and intensity of extreme weather events but did not identify any major risks or need for short-term action. The analysis of the physical risks at all locations showed that the Zumtobel Group is not materially affected by climate change. Political and legal developments have led to an increase in reporting and disclosure requirements that has been accompanied by more comprehensive legislation, e.g. on the reduction of emissions. These develop- ments are proactively included and asses- sed in the context analysis and materiality assessment of the management system and followed by the timely implementation of appropriate action. Targets were formulated to reduce emissions, and major reduction measures have already been defined and implemented. Due to political and legal changes, carbon pricing for materials such as steel and aluminium could pose a future transition risk.
Two trends can be observed in relation to sustainability data:
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