Double materiality analysis

Stakeholder Mapping and Impact Identification

In the analysis, our value chains and stakeholders are mapped. Through 15 stakeholder interviews conducted in the first half of 2024, a total of 183 impacts were identified and consolidated into a net list of 154 impacts. These are also assessed in a financial context. In addition, four financial external impacts have been identified for us.

Materiality Assessment Parameters

Impact materiality is assessed in relation to four parameters:

• Probability (50 per cent)
• Significance
• Scope
• Possibility of recovery

Financial materiality is assessed based on two parameters, each accounting for 50 per cent:

• Probability
• Significance (applying the Group’s risk matrix to assess weight.)

Impact Categorization

In general, the impacts are categorised under the main ESG themes: Environmental (E), Social (S) and Governance (G): E1-E5, S1-S4, and G1. Some of our impacts are not easily categorised within the framework. This is because:

1. We have emissions/pollution to space (does not fall under either soil, air or water)
2. Space Norway manages and further develops security-critical space-related infrastructure that meets important Norwegian societal needs and supports national security (this is not purely a local community perspective or a customer perspective).

Separate themes have therefore been created to cover these issues: X1 – Space sustainability and X2 – National security.

Material Topics

We have defined all topics scoring four or higher in any one dimension as material. In addition, we have defined several topics with scores just below four in both dimensions as material. We have consolidated these topics into five material topic groups:

• Security-critical Infrastructure
• Space Sustainability
• Climate Change
• Human and Labour Rights
• Competence Development

Out of scope

A number of topics have emerged as moderately important for Space Norway. What these topics typically have in common is that they either score very high on probability and irreversibility but are very limited in scope (this includes, for example, “pollution from our operations” and “waste”), or they score low on probability – partly because the topic is being addressed systematically and effectively (this includes, e.g., HSE topics, “compliance” and “data security”) – yet would have high significance should they occur. We consider this last group of topics to represent our “licence to operate” – issues that, while not designated as priority areas in the double materiality assessment, will be addressed systematically and reported on.