To guide our sustainability programme and support our licence to operate we need to understand the issues that are of most significance, or materiality, to our stakeholders, alongside those that will have the most impact on the Company financially or potentially in terms of risk.
In 2022 we undertook a more rigorous materiality assessment which, in line with evolving international reporting requirements, has looked at both external impacts and our own internal view of ESG risks.
Key themes and issues
We retained the four key themes of Environment, People, Society and Governance under which we have reported previously. The refined list of 25 material issues were classified under these four themes. For the Materiality Matrix these issues were ranked from 0 to 10 according to their importance to stakeholders and the level of ESG risk assessed by the Company.
Key findings from the Materiality Matrix
For external stakeholders Ethics, Transparency & Regulatory Compliance; Workplace Safety & Security; and Anti-Bribery & Corruption Practices were the most important issues.
For the Company, the greatest ESG risks were mostly issues listed under the Environment theme, as well as Workplace Safety & Security and Investment in Clean Technologies & Business Innovation.
Further detail on the materiality assessment process and findings, including Materiality Matrix, can be found in the 2022Annual Report and Accounts and the 2022 Sustainability Report.