Defining shared priorities
Stakeholders have different needs, resources, interests and ways of operating for sustainability. Each one requires a distinctive approach.
We always aim to interact with each one in a fair and personalized way, so as to obtain the best possible outcome for everyone.
Even if stakeholders are all unique, there are a few basic principles that are constant and translate into similar types of initiatives.
Below is a graphic illustrating approaches and initiatives that, broadly speaking, tend to recur in our stakeholder engagement process.
Materiality assessment
Materiality includes the most "material” reflections, namely, the most significant reflections that a company's activity can determine from a financial, economic, reputational, environmental, climatic, social and legal perspective, in respect of its employees, partners, investors, customers, suppliers, markets, territories, institutions, governments and communities, both local and global – in short, everything that is reflected with a significant impact on all stakeholders.
By defining the most material aspects, we can set an order in the priority given to topics relating to sustainability, so that we can include them in our company strategies and report on them to stakeholders.
Double Materiality
This more holistic approach takes into account, on the one hand, the sustainability aspects of company operations and their value chain (the impacts that Saipem generates on the environment and people), and on the other, the financial sustainability (the impacts suffered and impacting the Company's value) – as well as their reciprocal interactions and reflections.
