Stakeholder engagement

Stakeholder engagement

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 relevant stakeholders to gather information and assess actual and potential negative impacts on the environment and society, as well as sustainability risks and opportunities.

Stakeholders are those who can affect or be affected by the undertaking. These stakeholders usually include your suppliers, partners, and various departments in your organization. There are two main groups of stakeholders:

–             Affected stakeholders: individuals or groups whose interests are affected or could be affected – positively or negatively – by the undertaking’s activities and its direct and indirect business relationships across its value chain.

–             Users of sustainability statements: primary users of general-purpose financial reporting (existing and potential investors, lenders and other creditors, including asset managers, credit institutions, insurance undertakings), and other users of sustainability statements, including the undertaking’s business partners, trade unions and social partners, civil society and non-governmental organizations, governments, analysts and academics.