To help us stay on track, we have an internal monitoring system in place. We undertake a yearly self-assessment exercise in which we evaluate our performance in more than 34 relevant areas of sustainable practice. We target 150 to 200 improvement actions per year and monitor progress based on a simple scoring methodology.
In 2022, we continued to perform annual self-assessments to evaluate our sustainability performance across the following ESG criteria: Environment, Social, Societal, Governance, Sustainable Procurement, and Partner of Choice. Our eight European sites have undergone these assessments, and corrective actions were issued for continuous improvement. We assess our performance with a pragmatic scoring methodology which ranks.
We assess our performance with a pragmatic scoring methodology which ranks our business units from being knowledgeable about
their performance to being recognized as the benchmark for each ESG topic. The results of these assessments are discussed during our quarterly management updates, and concrete plans for improvement flow from this assessment. We are proud to state that our sites increased their performance by an average of 30% in 2022 as compared to 2021.
The framework is designed to make a clear contribution to our most relevant UN Sustainable Development Goals, supported by a management system and governance structure to ensure that our company objectives across three dimensions are met. With DOMO Beyond, we continue to measure our progress and embed sustainable value creation into DOMO’s long-term growth strategy.
For the purpose of identifying the sustainability issues that matter most to our business and our stakeholders, we conducted a materiality assessment in 2021. Materiality assessments allow for the prioritization of topics which generate the most impact in sustainability strategies.
We engaged with our main stakeholders to assess issues that may be material to our company. Throughout this process, six stakeholder groups were considered, namely: planet, customers, investors, employees, suppliers, and communities. Stakeholders were interviewed in order to gather valuable insights into their perspectives of materiality. Starting with initial research to identify a long list of potentially material issues across Environmental, Social, and Governance pillars, we have narrowed down the priorities based on stakeholder insights and explorative questions. All in all, we were able to prioritize key sustainability topics into the matrix below, differentiating between:
- the Impact on DOMO’s business: Qualitative insights from employees,
- the relevance for stakeholders: Qualitative insights from communities, investors, suppliers, and customers, as well as expert opinion to determine the relevance for the planet.
From this analysis, we approach our material topics through our comprehensive DOMOBeyond framework.
In 2023, DOMO will undertake a double approach to materiality, assessing both the impact of sustainability topics on the financial viability of our business, and considering the impact we are having on people and planet.
The DOMO Supervisory Board of Directors undertakes an annual review of economic, environmental, and social risks.
The Executive Committee comprises an integrated sustainability steering committee chaired by the CEO. This committee reviews sustainability management, approves the roadmap and targets, and reviews and approves the materiality matrix.
The Global Sustainability Team develops and executes the sustainability strategy, integrates sustainability across all divisions of the group, leads reporting activities, and liaises with external stakeholders.
The Cross-Divisional Authority Delegation (Extended Leadership Team) is responsible for leadership accountability across business units, regions, and functions on key stakeholders’ principles and KPIs. It mobilizes employees to implement strategies.
The Sustainability Champions support our DOMO Beyond system implementation, and oversee regional-level initiatives.
At DOMO, we maintain a regular, transparent and target group-specific dialogue with our stakeholders to ensure they are kept informed. Key stakeholders include customers, employees, suppliers and business partners along other representatives of society.
We aim to notify our various target groups promptly and appropriately regarding developments at DOMO and its objectives, thus enabling our stakeholders to obtain a comprehensive picture of our company and its business activities. In return, this dialogue enables us to identify the needs and expectations of our stakeholders, to evaluate those trends and to appropriately reflect them in our business decisions.
As a member of relevant technical and industry associations at a local, regional and international level, we maintain an
active dialogue concerning industry-specific issues. DOMO’s Management and Global Communications departments regularly and promptly notify investors, customers, key partners and journalists of developments within the company; for instance, presenting the latest company developments via press releases, in conferences and events as well as via the company’s website and various social media channels.