Crafting Danske Bank’s tailored impact materiality assessment for their CSRD requirements and wider strategic implications

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Nordic Sustainability was asked by Danske Bank to support on the impact materiality assessment as part of their CSRD implementation, in addition to advising on its progress to wider impact management integration across the bank’s activities. 

The brief

Nordic Sustainability worked closely with Danske Bank to develop a tailored impact materiality assessment process and methodology in order to assess the impacts of both their own operations and parts of their value chain. This was to support the journey towards CSRD compliance, as well as building awareness in the bank of where negative impacts arise as a result of operations and financing activities.

Our approach

The project was divided into two phases:

1) Own Operations

2) Value Chain

Nordic Sustainability, in collaboration with Danske Bank’s Group Sustainability team, developed and carried out a process to facilitate the mapping and scoring of impacts across the bank’s own operations and their financing and procurement activities. The three assessments accounted for variances such as financing sectors, types of suppliers, locations of Danske Bank offices, customer types etc.

In parallel to the impact materiality assessment, the team engaged with a wide set of internal stakeholders to upskill and train on impact assessment and CSRD.

Result

As part of the first project phase, a robust scoring methodology and supporting documents were developed and delivered including an impact materiality assessment

In addition, Nordic Sustainability supported the bank in identifying strategic next steps following the assessment regarding both identified impacts and required capabilities for full compliance and impact management integration.

We really appreciate the professional and high-quality support that Nordic Sustainability provided during our CSRD process. They provided us with an efficient and effective process that has facilitated impact and CSRD based capacity building in the bank, this along with their wider support has acted as a key input into our new sustainability strategy."

Kristin Parello-Pelsner

Head of Group Sustainability