Our stakeholders, and the issues that concern them most, drive our sustainability strategy, as do those areas that have a material impact on how our business will develop. We have chosen to report on those issues that are the highest priority.
Birla Carbon continually reviews issues that are of importance to our stakeholders. We assess which emerging issues most influence their views and develop a list of issues to be applied to each group. The boundary for each issue is determined considering the impact within Birla Carbon as well as outside our organization.
During this process, the Sustainability Steering Committee (SSC) utilizes quantitative and qualitative analysis to determine the materiality of each issue. Quantitative analysis looks at available data such as employee surveys and Health, Safety and Environmental, (HS&E) metrics reports. Qualitative analysis includes customer feedback during interviews and community input on the issues that are specifically important to them. The SSC then reviews each issue for materiality by considering the influence of stakeholder assessments and decisions, and the significance of our economic, environmental and social impacts.
To validate our assessment and ensure our reporting achieves Global Reporting Initiative (GRI) Principles of Completeness, we regularly evaluate the scope of our material issues, the boundaries identified for each and the timescale considered. The SSC has attributed each of its material issues to a relevant material aspect, occurring internally or externally to the organization, as per the GRI G4 guidelines. The final result of the process is approved by Joe Gaynor, Chief Legal, Sustainability and Risk Officer, on behalf of Birla Carbon’s Senior Management Team (SMT). Learn more about our Governance Structure
“ERM guided Birla Carbon through the process of conducting a materiality assessment, in alignment with GRI’s G4 principles. This included the identification of stakeholders; a review of each aspect and its relevance to Birla Carbon and its stakeholders; the prioritization of issues; and an evaluation of stakeholder feedback and its impact on materiality. Furthermore, ERM provided insight on Birla Carbon’s materiality analysis, based on customer and competitor benchmarking, wider sector and global trends and potential emerging issues. By undertaking this robust process, Birla Carbon developed its understanding of the material issues that are significant for its operations and to its stakeholders.”
Jeff Bilkert, Partner, ERM
We group our material issues by our six focus areas: Governance and Ethics; Product Responsibility; Environment; Customers and Suppliers; People; and Communities.
The issues listed below were identified as the most relevant and significant for Birla Carbon and our key stakeholders. They are ranked by the level of interest to stakeholders and business impact.
A crucial aspect of our materiality process is how we perceive the development of future issues and trends. Through horizon scanning, we aim to identify the wider impact that specific issues could have on our business. This process, which we describe as future-proofing, will enable us to plan scenarios for the long term by developing our future materiality matrix.