In 2024, in keeping with the new Corporate Sustainability Reporting Directive (CSRD), the Acea Group carried out a dual relevance analysis process as set forth by ESRS standards and EFRAG’s Materiality Assessment Implementation Guidance, in order to identify impacts, risks and opportunities pertinent to the group according to a dual perspective of impact relevance and financial relevance.
For the evaluation of impact relevance a focus group has been set up involving the main categories of the Group’s stakeholders (employees, research entities, partners, suppliers, non-profit organisations and consumer associations, institutions, consulting firms, unions, peers, new generations) and relevant impacts generated by the Acea Group’s external business were identified.
As regards financial relevance, the Group risk assessment process methodology (ERM) was adopted, integrating and developing the scenarios in reference to sustainability dimensions. The analysis of these scenarios by risk owners, ERM focal points and the Group companies’ sustainability contact persons enabled identification of the risks and the opportunities represented by ESG issues on the Group’s business. Based on the analysis findings, all the ESRS environmental, social and governance issues proved to be relevant and are therefore subject to reporting in the sustainability report included in the Group Consolidated Financial Statements.
Learn more about double materiality
Sustainability Report from the 2024 Consolidated Financial Statement
To build and develop a relationship of trust with stakeholders and adopt an inclusive and proactive approach vis-à-vis the same assumes paramount importance in the process of generating and sharing values, for both the Acea Group and the stakeholders themselves.
Our approach is based on criteria of inclusion, transparency, fairness, attention to ethical, environmental and social aspects, in the knowledge that dialogue and the sharing of goals, alongside the evaluation of impacts, are tools that can be used to create long-term wellbeing for the territories and the communities served.
In order to ensure a uniform approach in dealings with stakeholders, the Group has adopted the “Principles and values of Stakeholder Engagement” which reflect the strategic direction and underlying element for an extensive and consistent integration in terms of stakeholder engagement in the handling of respective operations.
Based on these principles and values, Acea’s Stakeholder & Customer Unit acts as a hub of specialist expertise and know-how on Stakeholder Engagement at Group level and elaborates models and methodological tools for the purpose of promoting the implementation and management of stakeholder engagement activities on the part of Acea and the Group companies.
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Principles and values of stakeholder engagement within the Acea Group
The Group’s tools include the Stakeholder Map, which shows a mapping of Acea’s main stakeholders, broken down into categories and subcategories and further subdivided based on the issues relevant to the various businesses.
The macro categories of the stakeholders are as follows:
The stakeholder engagement process is regulated by a specific Group procedure, in accordance with the Global Reporting Initiative Standards and AA1000 Stakeholder Engagement Standard (AA1000SES).
Definition of the object and the goals to be achieved through stakeholder engagement: the purpose of these activities is to define a clear vision of the stakeholder engagement motivations, in keeping with the broadest objectives of the Group’s strategy, and to identify and understand the specific issues to be considered during the stakeholder engagement process.
Identification, analysis, prioritisation and mapping of the stakeholders to be engaged: this serves to identify the stakeholders who must and can be involved, analysing and displaying ongoing interests, influence, importance, relations and connections between them and the Group. The analysis also covers the steps for organising and prioritising the various stakeholders. The data produced will be used to create a map of relevant stakeholders, an essential and strategic tool for the planning of engagement activities.
Definition of the level of engagement and the engagement tools: via the mapping of relevant stakeholders it is possible to understand the most appropriate ways of involving them and communicating in an effective manner.
Planning, implementation and management of engagement activities: set out below is a relevant stakeholder engagement plan, consistent with the Group’s strategy, objectives and aims, for the purpose of implementing the said engagement process. Having organised the involvement, the engagement activities are operationally put into effect. The stakeholders are then engaged according to the procedures envisaged by the tools identified.
After conclusion of the process, the activities carried out are re-evaluated, with a view to both learning from successes and errors, also for the benefit of future activities to be undertaken, and highlighting new opportunities for development. Feedback to the interested parties involved is also envisaged, adopting the principle of inclusivity and accuracy.
