Identifying, engaging, and enhancing the value of stakeholder relationships that can help us achieve our sustainable growth goals is crucial.
AN ONGOING DIALOGUE WITH STAKEHOLDERS
Sharing a goal makes reaching the goal easier. That's why we establish an ongoing dialogue with stakeholders to get their feedback on the most important sustainability issues and discuss how we can best integrate these issues into our business and management activities.
We have been seeking input from stakeholders since 2017, with the aim of identifying our Group's priorities for action, which issues require additional study, and how to improve our engagement. We use this feedback and other criteria to conduct an analysis of material issues, based on the guidelines such as the Global Reporting Initiative (GRI) and the Communication on Progress (COP) principles of the United Nations Global Compact.
The analysis identifies issues of fundamental importance to our Group and stakeholders that management can incorporate into its strategy to create long-term value.
In the process followed for the 2021 materiality analysis, the potentially significant topics and categories of stakeholders under assessment were reviewed, following the guidelines of the leading sustainability reporting standards.
Several representative groups of key categories of external stakeholders were also actively involved through a structured survey in order to assess and prioritize the topics.
In 2021 due to the pandemic, interaction with our stakeholders changed in some respects. Thanks to technology, we were able to expand our reach to a greater number of stakeholders, in more geographical areas. These more flexible tools have transformed our way of communicating, both during events and in moments of daily dialogue.
In 2021 we held 20 corporate events, over 70 webinars and industry conferences, talks, and international conventions, and carried out extensive outreach through our communications office via our social media channels. In 2021 we directly involved a new category of external stakeholders: universities. The main issues emerging during the year from the stakeholder engagement process led to recalibrating the positioning on the topics found to be material without significant changes.
The issues that emerged from the materiality analysis formed the basis for the updating of the Maire Tecnimont Sustainability Plan, which is an integral part of the Group’s 2022-2026 Business Plan, and for the definition of the targets assigned to management.
The materiality analysis process is divided into three main phases:
Where the topics that are potentially significant for our stakeholders and the Maire Tecnimont Group are identified by analyzing internal sources (existing disclosures, internal policies and procedures) and external sources (reviews of standard setters’ publications and peer/competitor benchmarks).
Where meetings with Maire Tecnimont Group representatives and external stakeholders are held, to assess the importance of each aspect of the topic list identified in the previous phase.
The aggregation of the evaluation results provided by each Group representative, and the development of the materiality matrix, are also an important part of this phase.
On the final phase, the materiality matrix and the topics identified by the Control Risk and Sustainability Committee, are validated.
Annually, at the start of the reporting period, a review of the topics and of the materiality analysis is held.