HMTX Completes Initial Materiality Assessment
Norwalk, CT, September 26, 2022-In 2022, HMTX Industries conducted its first Materiality Assessment--an important step in the company’s growing Environmental, Social, Governance & Resilience (ESG&R) efforts.
The assessment process helps define the issues advancing a company’s ESG&R strategy that are material to its business-from sustainability and energy management to climate change and diversity and inclusion programs. After gathering information via a survey to identify stakeholder priorities, both internal (employees) and external (customers along with business, media, and non-profit partners), the Materiality Assessment process established short- and long-term goals for the organization that can yield actionable, measurable results.
In the survey, stakeholders rated the relative importance of environmental, social, governance (ESG) topics on a scale to identify how familiar they were with these topics and how relevant they could be to HMTX’s business, to shape a collective approach and future reporting initiatives.
Product safety and transparency was consistently identified as the most important topic by both external and internal stakeholders. This was not surprising, given HMTX’s business model of being transparent in the choices the company makes, the ingredients in its products, and the impact it has on people and the planet. The other two most relevant ESG issues identified in the assessment were environmental issues such as circularity & material use, and social issues such as health & safety of the workplace. The assessment also revealed opportunities for growth in the process.