In 2023, Givaudan conducted its first-ever double materiality assessment, a comprehensive framework used to evaluate and disclose its environmental, social, and governance (ESG) impacts and risks. This assessment goes beyond traditional approaches by considering both outward-looking impacts on the environment, society, and economy, as well as inward-looking risks and opportunities for the business related to sustainability. Conducting a double materiality assessment allows Givaudan to gain deeper insights into sustainability risks and opportunities, fostering enhanced transparency, accountability, and long-term value creation. The assessment also aligns Givaudan's business performance with the expectations of stakeholders and society at large.