Regular engagement with internal and external stakeholders to understand what types of topics and issues concern them is key to determining our sustainability priorities. Scatec’s key stakeholder groups include co-investors and partners, financing partners, shareholders, employees, suppliers, contractors, governments and regulators, and local communities.
Stakeholder expectations are mapped through formal interviews, and in dialogue with our local stakeholders as part of our daily business on the ground. We also receive stakeholder feedback at the corporate level through dialogues with investors, regulators, and financiers.
Internal engagements comprise workshops with colleagues from various business units, including health, safety and security (HSSE), compliance, supply chain, people and organisation (P&O), operations and maintenance (O&M), environment and social (E&S), among others. Further, discussions are facilitated with the Executive Management team and Board of Directors via the ESG Committee. We assess identified topics for the significance of their environmental, social and economic impacts.
In 2021, we reviewed our materiality assessment to incorporate new technologies, including hydropower and wind, and focusing on both impacts and risks, which was revised in 2022. In 2023, we will develop our materiality approach to align with the double materiality principle in the upcoming Corporate Sustainability Reporting Directive (CSRD).