extract from
our sustainability
report 2023.
All The numbers refer to 2024
We enable circular tech
Foxway’s circular business model offers many opportunities to our partners and customers. We enable circularity through services such as Device as a Service (DaaS), trade-in solutions, value recovery, and IT Asset Disposition (ITAD).
The value propositions in Foxway are based on circular management of tech devices and ensuring a second, third, and sometimes even fourth life. When the end-of-life is reached for the devices, Foxway ensures secure and sustainable recycling by extracting parts and components (urban mining) and later ensuring that waste materials are recycled for material recovery in an environmentally responsible and compliant way.
Our business model makes us one-of-a-kind in the market. Simply put, we make sure that companies maximize their digitalization while minimizing their carbon footprint. We guide our partners and customers in their transition to consume tech more sustainably by introducing circularity instead of traditional linear consumption — the Foxway is the circular way.
In Foxway we are proud to share that almost 50% of our co-workers are oriented to work tasks targeting repairs, value-add, upgrades and rescuing devices for another use. Foxway stands out as a distinctive player in the circular tech industry, providing a sustainability approach that transcends merely being an add-on to an industry largely focused on linear consumption models.
Company at a glance.
Headquartered:
Solna, Sweden
FTE:
1,327 (+18%)
Revenues:
644 EURm (+21%)
CSRD applicability:
Yes (included in the 2024 CSRD
framework as a listed company)
All topics were scored on several
dimensions from 1-5
Impact materiality scoring dimensions
Scale How grave the negative impact is or how beneficial the positive impact is
Scope How widespread the negative or positive impacts are
Irremediability Whether and to what extent negative impacts can be remediated
Scale
1. Minimal impact
2. Low impact
3. Medium impact
4. Significant impact
5. Major impact
Scope
1. Limited reaching impact e.g., affecting a limited number of individuals
2. Concentrated impact e.g., affecting some Foxway customers/supplier/employees
3. Medium reach e.g., affecting all Foxway customers/suppliers/employees
4. Widespread impact e.g., Scandinavia-wide
5. Universal impact e.g., worldwide
Irremediability
1. Relatively easy to remedy short-term
2. Possibility for reversal with short-term effort
3. Possibility for reversal with medium-term effort (time & cost)
4. Only reversible with long-term effort (time & cost)
5. Creating irreversible damage
Impact materiality scoring dimensions
Financ. imp Size of potential financial cost or benefit to Foxway
Likelihood Likelihood that a risk or opportunity materialises
Time horizon Whether the risk is expected in short (<3 years), medium (3-10 years) or long (>10 years) term
Financial impact1
1. Negligible: <1m EUR (<~0.1% revenue)
2. Low: 1-5m EUR (~0.1-1% revenue)
3. Moderate: 5-30m EUR (~1-5% revenue)
4. Substantial: 30-100m EUR (~5-15% revenue)
5. Catastrophic: >100m EUR (>~15% revenue)
Likelihood
1. Remote : Only in exceptional circumstances (<1%)
2. Low : Not expected to occur (1-10%)
3. Moderate : Could occur at some point (10-50%)
4. High : Will probably occur in most circumstances (50-80%)
5. Very high: Expected in normal circumstances (>80%)
Note: Ranges based on revenue of around 700 million EUR.
Note: scoring relates to the top risk or opportunity listed in the box
A 5x5 materiality matrix was used to
combine the multiple scores for each
Impact materiality was rated based
on an overall qualitative assessment
Step 1: What is our impact on people and/or the
environment within this sustainability topic?
Step 2: How do we score it on the dimensions of scale,scope and Irremediability?
Step 3: Based on scoring from Step 2, where does the topic fall in the 5x5 Materiality Matrix from an impact perspective?
Impact Materiality
Impact materiality will influence
placement in the right quadrants
Impact materiality was rated based
on an overall qualitative assessment
Step 1: How do the topics in the long list translate into risks and/or opportunities for the company?
Step 2: How do we score it on the dimensions of likelihood and financial impact? Over what time
horizon is it expected to materialise?
Step 3: Based on scoring from Step 2, where does the topic fall in the 5x5 materiality matrix from a financial perspective?
Impact Materiality
Impact materiality will influence
placement in the right quadrants
CSRD provides scope for the company
to define the materiality threshold.
The main findings and conclusions
were documented in a one-pager per material topic.
A one-pager has been developed
for all material topics for Foxway.
Each topic’s impact and financial
materiality is explained and justified,
providing the argumentation of why it was considered material
A four-step approach was used during workshop to evaluate and finalise topic categorisation
Workshop design
Prior to workshop
– pre-read material
D
uring workshop
– facilitated dialogue
The methodology applied is
in line with CSRD requirements
Critical CSRD requirements for double materiality assessments
Engagement with stakeholders…
“Engagement with affected stakeholders is central to the undertaking’s on- going due diligence process and sustainability materiality assessment. This includes its processes to identify and assess actual and potential negative impacts, which then inform the assessment process to identify the material impacts for the purposes of sustainability reporting.”
Assessment of impact materiality…
“A sustainability matter is material from an impact perspective when it pertains to the undertaking’s material actual or potential, positive or negative impacts on people or the environment over the short-, medium- or long-term. Impacts include those connected with the undertaking’s own operations and upstream and downstream value chain, including through its products and services, as well as through its business relationships.”
Assessment of financial materiality…
“A sustainability matter is material from a financial perspective if it triggers or could reasonably be expected to trigger material financial effects on the undertaking. This is the case when a sustainability matter generates risks or opportunities that have a material influence, or could reasonably be expected to have a material influence, on the undertaking’s development, financial position, financial performance, cash cash flows, access to finance or cost of capital over the short-, medium- or long-term.”
Source: CSRD.
Key take-aways
and implications
