Materiality analysis assisted in identifying Raksystems’ main sustainability development areas

In early spring, we performed a materiality analysis to be used as the basis for our sustainability efforts with the aim of identifying the most relevant development areas for our corporate sustainability and ranking them in order of importance and criticality. The materiality analysis was performed by our sustainability working group and Trill Impact, our principal shareholder. The results allow us to focus our efforts on areas that are the most important for our business and our stakeholders right now, as well as identify longer-term requirements.

Materiality analysis results

We have previously identified Raksystems’ three sustainability areas: the wellbeing of properties, people and the environment. We used the same breakdown in the materiality analysis because we feel that we can generate the most added value to our stakeholders by focusing on these themes.

1. Wellbeing of properties
   Through our services, we have a positive impact on the wellbeing of properties. To further develop our services to better meet our customers’ needs, we need to ensure smooth cooperation with our stakeholders. We want to share our understanding and know-how of sustainable property management with our customers by offering them training courses, for example.
2. Wellbeing of people
   Professional experts who enjoy their work will safeguard the wellbeing of properties and the environment. With more than 700 experts, we serve our customers in the Nordic countries and Europe. An inspiring work culture and high job satisfaction are among our highest priorities. While our business naturally aims to be profitable, we use ethically accepted practices through a sustainable value chain, and expect the same from our partners.
3. Wellbeing of environment
   We assist our customers in reducing their carbon emissions and support biodiversity. We also aim to achieve our own carbon neutrality target by 2025. Our goal is to measure the positive impact of Raksystems on the environment, people and the wellbeing of properties in our annual sustainability report.

We will continue the good work to fight climate change and its impact. The best way for Raksystems to contribute to the wellbeing of the environment is through its services. Our goal is to be a major positive contributor to the fight against climate change. Good examples of the positive impact of our services include Geolo, energy renovations and the improvement of the reusability of materials.

Priorities support UN Sustainable Development Goals

We carried out the materiality analysis separately in Finland and Sweden, because despite being part of the same group of companies, both countries have a slightly different starting point to sustainability and related development work, and the expectations of their stakeholders are somewhat different. We kept the main focus areas the same, however.

We identified a total of ten areas, all of which contribute to the UN Sustainable Development Goals and fit perfectly under the themes of wellbeing of properties, people and the environment:

1. Continuous development of services with our stakeholders
2. Increasing knowledge and understanding of responsible property management
3. Positive impact on the wellbeing of properties
4. Wellbeing of employees
5. Inspiring corporate culture and development opportunities for employees
6. Sustainable and ethical business through a sustainable value chain
7. Profitable business and financial growth
8. Positive impact on the wellbeing of the environment through our services
9. Our own carbon footprint
10. Sustainability reporting and the EU taxonomy

The materiality analysis was performed with a matrix chart. We identified the key priorities for our corporate responsibility efforts and their impact on our stakeholders and our business. The matrix was divided into three assessment areas: monitoring, ongoing relevance and critical priority.

As a result of the materiality analysis, we came to the conclusion that the most important focus area of our sustainability efforts is a positive impact on the wellbeing of properties.

Where do we go from here?

As a result of this process, Raksystems now has a clear objective with which to continue the improvement of the wellbeing of properties.

We have set concrete indicators and targets to achieve the most effective outcome. We will present the indicators and targets in more detail in our sustainability report, which will be published in late spring 2023.

Working groups and persons responsible for each target will be named to ensure continuity of the work and regular reporting and monitoring.

We will start with the themes we have identified as the most critical and important for us, but we must not forget the themes we have set for the monitoring phase. As it is the whole that counts and we can achieve the best results in terms of the wellbeing of properties, people and the environment together with our customers and stakeholders, we must continue to work in a transparent and inclusive manner.