Our material issues
We have developed a robust approach to ‘materiality assessment’ in order to focus on what’s important to our business. We use this to identify relevant priorities under each of these themes and to inform our annual CR programme and action plans.
In 2019, we updated our global materiality assessment as we do every two years, and a new update will take place early in 2021. In 2019 we also updated our human rights risk assessment to identify the areas of highest risk, both in our own business operations and in those of our supply chain. We have mapped our operations and those of our supply chain to identify particular industry / sectoral risks as well as risks from their geographical location. In 2021 we are focussing on improving the risk assessment in our supply chain.
To identify particular country risks, we take account of a number of external benchmarks and indices in our risk assessment process, including the UN Human Development Index, ITUC Global Rights Index, Freedom House Freedom in the World Civil Liberties, UNICEF % of children aged 5-14 years engaged in child labour, Minderoo Foudation’s Global Slavery Index and Transparency International’s Corruption Perceptions Index.
Our assessment framework measures the relative importance of particular CR issues both to our business and to our stakeholders, and the chart below illustrates those areas identified as important.
For each of the material areas identified, we continue to review our policies and procedures to identify any gaps in our processes.