94 BMW Group Report 2024 To Our Stakeholders Combined Management Report Group Financial Statements Responsibility Statement and Auditor’s Report Remuneration Report Other Information Sustainability Statement PRINCIPLES AND GENERAL DISCLOSURES 95 General Basis for Preparation of the Sustainability Statement 96 Sustainability Strategy 96 Operating segments 96 Employees 96 Business model and value chain 96 Strategic position – Sustainability-related goals 97 Materiality Assessment 97 Procedure and methodological basis for the materiality assessment 99 Comparison with previous period and next review of results 99 Procedures for identifying and assessing material climate-related and environmental impacts, risks and opportunities 103 Material Impacts, Risks and Opportunities and their Interaction with Strategy and Business Model 103 Description of material impacts, risks and opportunities and their link to strategy and business model 104 Current financial effects of material risks and opportunities 105 Stakeholder Engagement 108 Principles of Governance by the Board of Management and Supervisory Board 108 Board of Management – Duties, diversity, expertise 110 Supervisory Board – Composition, diversity, expertise 111 Supervisory Board – Duties and committees 113 Renumeration of the Board of Management and the Supervisory Board 113 Board of Management 114 Supervisory Board 114 Internal Control System for the Sustainability Reporting 115 Statement on Due Diligence