Materiality assessment, at Greenko, is viewed as the most crucial strategic business tool as it helps to navigate through the complex risks, expectations, and opportunities that society may offer. This practice helps the organization in creating and delivering shared value in the long run.
Material topics are directly and indirectly linked with the stakeholders. Effective engagement helps in identifying and addressing the needs of stakeholder groups including marginalized person or community that is directly or indirectly affected by the organization. This process of engaging stakeholder groups can benefit by reducing the overall risk to the business. More importantly, it will give a chance to everyone (those who affect and will get affected) to voice their opinions.
The materiality assessment was conducted by consulting extensively with the diverse pool of internal as well as external stakeholders, from across locations and levels, including the key leadership team, functional heads, department heads, and other relevant officials.
Based on the comprehensive materiality assessment and the key stakeholders’ perspective, the identified material issues were evaluated and rated as High, Medium, and Low depending on their impact on Greenko’s business operations and society. The materiality matrix is presented below:
The key materiality topics, their significance, and impact associated with the UNSDGs and the six capitals is presented below:
2(GRI 102-21, 102-40, 102-42, 102-43, 102-44)
3(GRI 102-47, 103-1)