At Prysmian, sustainability is always far more than a concept to be discussed. We’re constantly analysing, mapping and prioritising sustainability issues and initiatives that matter most to the Group and its stakeholders.
Our ‘materiality analysis’ work began in 2014, and has been maintained and updated ever since. We’re constantly identifying the issues with a significant economic, environmental and social impact on our organisation and influence the decision-making of stakeholders.
Understanding the viewpoints of stakeholders is vital, if we’re to continue to generate shared value over the short, medium and long term. Consistent with the ‘G4 Sustainability Reporting Guidelines’ defined in 2013 by the GRI – Global Reporting Initiative – and adopted for the first time last year, our materiality analysis has been updated to reflect its increasing importance as the starting point for reporting on significant aspects of the Group.
This work took account of the new needs and requirements of the Group's external stakeholders identified at our latest Multi-Stakeholder Engagement events.
In line with our corporate objectives, and to understand the various needs, interests and expectations involved, we always aim to maintain constant dialogue and interaction with our internal and external stakeholders. Establishing and developing these clear lines of communication, founded on transparency, openness and listening, allows us to understand the constantly changing expectations and requirements of our stakeholders. These relationships are crucial as we develop structured processes that will help us identify emerging trends and predict future changes.
Multi-Stakeholder Engagement initiatives have become an integral part of the Group's growth strategy, as well as an effective communications channel. These initiatives will help us meet important objectives:
- Receive suggestions from stakeholders to improve products and processes.
- Improvement of management of risk and reputation.
- Inform, educate and involve stakeholders to help them improve their decision-making and actions, for the good of the Group.
- Contribute to the development of relations with stakeholders based on trust and transparency.
Linking information with communication