Stakeholder dialogue and materiality analysis
The continual dialogue with our stakeholders is a key component of our sustainability initiative, and forms the basis of our materiality analysis.
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Systematic development
To develop and improve our sustainability initiatives, Castellum continually and systematically analyses both positive and negative impacts of the operations on its business environment from the perspective of the economy, the environment, society, and human rights.
Castellum’s key stakeholders
Castellum has an impact on, and is impacted by, various stakeholder groups. The stakeholders who have been identified as the most central to Castellum’s operations are:
- Customers, tenants and their employees
- Owners
- Lenders
- Suppliers
- Employees
- Local communities
Stakeholder dialogue
Castellum is routinely in dialogue with the company’s stakeholders to facilitate surveying and adapting key sustainability issues to requirements and expectations in its business environment. Stakeholder involvement allows Castellum to better understand both which sustainability issues the stakeholder groups regard as material in relation to Castellum, and the significant impact that various sustainability issues have or could have on the business environment and specific stakeholder groups. Dialogue is held in various situations and through various channels, and issues are routinely addressed. In addition to the routine dialogue, recurring interviews are held with selected stakeholders who are experts in sustainability in the property industry or are considered as having a major impact on – or are impacted by – Castellum’s operations.
Materiality analyses
Castellum routinely conducts materiality assessments to identify, prioritise and establish the company’s material sustainability matters. In 2023, Castellum started to work on a double materiality assessment in accordance with the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS). The double materiality assessment was completed in 2024 and forms the basis of the company’s sustainability strategy, sustainability goals and sustainability reporting. Castellum’s analysis of sustainability-related risks and opportunities is also based on the double materiality assessment. The results can also be linked to the company’s strategy and business model.
The double materiality assessment was carried out in five steps:
- Mapping and identifying potentially material sustainability matters
- Assessment of impacts, risks and opportunities
- Stakeholder dialogue
- Review, prioritisation and adjustments
- Validation and adoption of sustainability matters
