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Materiality

Materiality matrix

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Understanding what matters most to our stakeholders is fundamental to being a purpose-driven organisation. We consider these stakeholder priorities alongside our own assessment of what has the biggest impact on the company and its ability to create value, and the output is presented in the material issues matrix.

Value, in this context, may be created internally (for the company and employees) and there can be external value (for customers, communities, investors, suppliers and the environment). Value may be financial or nonfinancial.

Our stakeholder materiality assessment informs decisions about what we report externally. Setting out issues in this way helps ensure we understand key stakeholder priorities and consider their interests in strategic decision-making.

Our 2022 materiality review

Views were obtained from across all our stakeholder groups. Key internal subject matter experts and stakeholder relationship managers provided further insight on issues and the output is presented in the material issues matrix.

Issues are plotted on the matrix from lower to higher in terms of level of interest to stakeholders and how much it can affect our ability to create value. We cross-referenced and aligned identified issues with our principal risks and uncertainties. For the first time an indication of how issues have moved since the previous review has been included.