Given our operational and business footprint in the European Union (EU) and the upcoming EU Corporate Sustainability Reporting Directive (CSRD) regulations, we initiated a double-materiality assessment in 2024 to evaluate our impacts, risks, and opportunities, both from a financial risk perspective and broader sustainability impact.
We conducted a comprehensive assessment involving internal and external stakeholders. The process began with reviewing macro trend sources, internal policies, global peer trends, and published studies. This helped identify a broad list of potential reporting topics, which were then refined to key impacts, risks, and opportunities (IROs). A survey was conducted with external stakeholders (investors, suppliers, NGOs, works councils, industry associations, customers, and distributors) and internal stakeholders (internal subject matter experts, global leadership team, Executive Leadership Team), complemented by live interviews and proxy data tracking regulatory trends and stakeholder concerns. The survey results were mapped to the EU CSRD-aligned European Sustainability Reporting Standards (ESRS) topics, followed by a detailed review with Corteva subject matter experts. The assessment will continue to be refined in 2025 to reflect evolving regulatory requirements, emerging industry trends, and stakeholder expectations.
Stage 1
Identify key topics
- Reviewed ~50 macro trends, internal assessments and policies, and peer practices
- Analyzed ~200 sources and risks from Corteva’s risk register
Stage 1
Identify key topics
- Reviewed ~50 macro trends, internal assessments and policies, and peer practices
- Analyzed ~200 sources and risks from Corteva’s risk register
- Created shortlist of potentially relevant sustainability topics
Initial prioritization
Stage 2
Gather insights
- Surveyed over 80 external stakeholders and over 100 internal experts leadership
- Integrated 3 layers of big data for a proxied perspective of Corteva's global presence
Stage 2
Gather insights
- Surveyed over 80 external stakeholders and over 100 internal experts leadership
- Integrated 3 layers of big data for a proxied perspective of Corteva's global presence
- Detailed stakeholder perspectives
Stakeholder perspectives
Stage 3
Map and assess
- Aligned with ESRS topics and sub-topics
- Assessed risks and opportunities using survey results and big data
Stage 3
Map and assess
- Aligned with ESRS topics and sub-topics
- Assessed risks and opportunities using survey results and big data
- Scored all topics based on detailed criteria
Impact, risk, opportunity mapping
Stage 4
Validate results
- Validated results through internal expert reviews
- Held an in-person sustainability leadership workshop to finalize thresholds and double materiality scale
Stage 4
Validate results
- Validated results through internal expert reviews
- Held an in-person sustainability leadership workshop to finalize thresholds and double materiality scale
- List of IROs for continued evolution of our sustainability strategy
In process of confirming priorities from assessment
Risk assessment
To support our business and value-creation goals and objectives, risk appetite, and risk mitigation strategies, we maintain a governance structure that delineates the responsibilities for risk oversight activities, and the governance and oversight of those activities, between management and our Board.
The Company’s enterprise risk management program is managed by our Risk Director, who supports management in setting the organization’s risk appetite, the identification and prioritization of risks, and risk mitigation activities. The Risk Director reports to the Vice President, Chief Risk and Compliance Officer, who in turn reports to our Chief Legal and Public Affairs Officer.
The Board is committed to strong, independent oversight of management and risk through a governance structure that includes our Board committees.
The Governance and Compliance Committee retains oversight of the enterprise risk management program and the recommendations for delegating oversight of certain risks to the Board’s committees.
Under this structure, it is management’s responsibility to manage risk and elevate to the Board’s attention risks that are significant to the Company. The Board has oversight responsibility for the process established to identify, report, and monitor the most significant risks applicable to the Company.