Strategic report
Governance
Financial statements
52 OCU Group Annual report and financial statements 2026
Our sustainability approach continued Materiality
3. Stakeholder engagement Interviews, workshops and surveys gathered the priorities and expectations of internal and external stakeholders. 4. Critical analysis A tailored methodology prioritised topics from both impact and financial materiality perspectives. 5. Strategic integration Material topics were incorporated into sustainability governance, decision-making and future priorities. The enhanced DMA strengthens our ability to identify emerging risks, capture growth opportunities and respond proactively to changing stakeholder expectations across our expanding markets. It provides the foundation for our sustainability strategy and supports our ambition to deliver sustainable, long-term value for investors while creating positive outcomes for our people, clients, communities and the environment. As OCU Group continues to evolve, we will regularly review and further enhance our assessment to ensure it remains aligned with our strategic objectives, operating environment and growth ambitions. The refreshed DMA remains broadly consistent with the previous assessment. Climate change continues to be OCU’s most material environmental issue, reflecting its relevance to operational resilience and our markets. Pollution is now assessed as material, reflecting the Group’s increased scale and geographic reach. Robust environmental controls and proactive risk management remain essential. Although Equity, Diversity, Inclusion and Belonging (EDIB) is not material under the DMA methodology, it remains a strategic priority for attracting, developing and retaining the skills OCU needs.
In FY26, OCU refreshed its Double Materiality Assessment (DMA) to reflect the Group’s growth, acquisitions, expansion into Australia and New Zealand, and entry into heat networks. The assessment provides a forward-looking view of the sustainability impacts, risks and opportunities most relevant to OCU and its stakeholders. It strengthens the evidence base for governance, prioritisation and long-term value creation as the Group’s footprint and capabilities develop. Our DMA assesses sustainability through two complementary perspectives. Impact Materiality (Inside-Out) evaluates our actual and potential positive and negative impacts on people, communities and the environment across our value chain. Financial Materiality (Outside-In) considers how sustainability-related matters may influence OCU Group’s financial performance, resilience, growth prospects and enterprise value. Together, these perspectives provide a robust framework for identifying the issues that are most material to both our stakeholders and our business. To ensure a rigorous and evidence-based assessment, we followed a structured five‑stage process:
1. Value chain and stakeholder mapping
We mapped the value chain and key stakeholders to identify the sustainability topics most relevant to our operations.
2. Impact, risk and opportunity identification We assessed the ESG impacts, risks and opportunities arising from our activities, footprint and capabilities.
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