Definition of our main topics
Our Group-wide materiality matrix indicates our most important fields of action and priorities. It serves as a guide for the transparent reporting we carry out and is an important element for our strategic decision-making. The development and review of our materiality matrix is based on a systematic process, as part of which we involve external and internal stakeholders. We also regularly consult external studies (such as the Word Energy Issues Monitor or the World Energy Council) and analyses (such as the GRI Sector Supplement for Electric Utilities) as part of this process. Senior management, public authorities, non-governmental organisations (NGOs), politicians, investors, the media, customers, suppliers and representatives from 50Hertz staff all participate in this process.
In 2020, Elia Group set about prioritising our risks and opportunities based on the Sustainable Development Goals. This first approach served as the basis for the development of the Group’s ActNow programme, through which the Group set itself concrete goals. An external organisation - S&P Trucost - supported the Group by identifying the most relevant SDGs: they considered both the opportunities (positive external effects on performance, development and reputation) and the risks (negative external effects of our activities or on our business activities) across the Group’s entire value chain. This approach covers both the impacts the Elia group has on the external environment (inside-out) and the impacts the external environment has on the Elia group (outside-in) and is also designated as ‘double materiality’.
The result of this process is the Group’s materiality matrix, which prioritises its reporting and management of ESG issues. The materiality matrix is used to determine the Group’s current and future priorities and focus points. It also serves as a guide for the determination of topics that the Group includes in its annual reporting. The matrix reflects the importance of different topics to its stakeholders.