INDICATOR: 3-1
Process to determine material topics
At the beginning of 2022, HELLENiQ ENERGY carried out a new materiality study. The methodology followed is based on the guidelines of the GRI Standards 2021. The assessment of the issues was based on the degree of their impact on the Group’s overall corporate performance and sustainable development, as well as their external impact on the economy, society and the environment (‘Double Materiality’). The stages of the process were the following:
Stage 1 – Identification of relevant issues
Through the initial prioritization process, 21 issues were identified, taking into account the Group’s sector of activity and the impacts that arise or are likely to arise from its activities, while covering the three ESG pillars (Environment-Society-Corporate Governance).
In addition, these issues have also emerged from the following review work, among others:
- The Group’s new vision and energy transition strategy
- The identified material issues for the sector from international reporting standards (GRI, SASB, etc.)
- The issues recognized by analysts and rating agencies as material for companies in the sector (MSCI, Sustainalytics, etc.)
- The issues identified as material by other companies in the sector
Stage 2 – Management assessment and prioritization
Senior management involvement through twelve (12) meetings with senior management. It is noted that for the first time all members of the Executive Committee participated in the process.
Stage 3 – Stakeholder participation
Three (3) focus groups were organized in Athens and Thessaloniki, involving the main representatives of all stakeholder groups, six (6) meetings with representatives of the local government of the neighboring municipalities and an online survey in which a total of 892 people, main representatives of all stakeholder groups, participated.
Stage 4 – Identification of the most relevant issues
Based on the assessment carried out, 6 topics emerged that were identified as the most essential for the sustainable development of the Group.
Stage 5 – Validation of the results
The results were validated by the CEO and the Group Sustainable Development Committee.