Responding to issues that matter most to our business and society
To make sure that we tackle the issues that really matter, we prioritise them by assessing their ‘materiality’ – i.e. the extent to which they impact our business and society. We do this by using what we call our ‘Materiality Matrix’.
Our 2018/19 Materiality Matrix
As part of this process, we prioritise key issues and aim to fully understand the risks and opportunities facing our business in the immediate and longer term. This involves:
- understanding issues of greatest concern from the United Nations Sustainable Development Goals alongside insight from key external stakeholders including our customers, colleagues, politicians, Non-Governmental Organisations (NGOs), suppliers and wider society
- engaging internal experts from across the business to understand how the issues may affect our operational or financial performance such as our reputation or growth.
Prioritising issues through this process, enables us to focus our efforts on effectively managing our impact as well as our stakeholder relationships.
Our materiality assessment is carried out every two years, with the above assessment undertaken in 2018/19. This allows us to reflect any significant changes within our business or the external environment, in order to inform the development of our Responsible Business Ambitions and activities undertaken within our Responsible Business Foundations.
Find out more about how we engage our stakeholders.