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SUSTAINABILITY AT MAIRE TECNIMONT
1.7 MATERIALITY ANALYSIS In order to identify the Group’s priorities for action, the issues on which further disclosure is required and the stakeholder engagement activities that require improvement, in 2017 Maire Tecnimont introduced a
materiality analysis, based on the guidelines of the most commonly-used international standards such as the Global Reporting Initiative (GRI) and the principles of the Communication on Progress (COP) of the UN Global Compact.
The objective of the analysis is to identify the key topics for Maire Tecnimont and its stakeholders, which can act as management levers to create long term value to support the Group’s strategy.
The materiality analysis process is divided into three main phases:
THREE PHASES
IDENTIFICATION OF RELEVANT TOPICS 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).
ASSESSMENT OF RELEVANT TOPICS Meetings with Maire Tecnimont Group representatives and external stakeholders to assess the importance of each aspect of the topic list identified in the previous phase. Aggregation of the evaluation results provided by each Group representative. Development of the materiality matrix.
VALIDATION AND REVIEW Validation of the materiality matrix and topics identified by the Control Risk and Sustainability Committee. Annually, at the start of the reporting period, a review of the topics and of the materiality analysis is held.
The result of the materiality analysis is summarized in the materiality matrix, which contains the following information: The horizontal axis shows the relevance of topics according to the Group. The right part of the matrix shows the issues for which a high level of impact in the coming years is foreseen in terms of the capacity of Maire Tecnimont to create long-term value. The vertical axis indicates the priority that stakeholders attribute to the various issues.
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CREATING VALUE
The upper part of the matrix includes the issues which are more relevant to stakeholders in terms of the influence that each of them has on their decision-making;
“Local Economic Development”, “Local Communities” and “Client Relations” were merged into one topic: “Local economic development/In-Country-Value”
Below are the topics that changed in the 2020 materiality analysis compared to 2019:
“Waste management” and “water management” have been merged into one topic: “Water and waste management”
“GHG emissions” and “Energy efficiency” have been merged into one topic, “Climate change” “Grievance mechanisms” and “Ethics & compliance” have been merged into one topic: “Ethics & Compliance”
“Employment” and “Industrial Relations” have been merged into one topic: “Employment”
