Continuous monitoring of material issues is critical to staying on top of emerging risks and opportunities. A materiality assessment helps organizations understand what topics matter most to their businesses and stakeholders and where to focus the attention. We regularly update our materiality assessment to make sure it reflects changes in our business and the external environment.
Our 2020 materiality matrix
Our last extensive materiality assessment was done in 2020. It was based upon and aligned with our integrated reporting approach, considering the six capitals. The resulting materiality matrix has three categories – low, medium and highly materiality topics. The illustration below reflects our medium and highly material topics.
How the UN SDGs guide our strategy
Our highly material topics link with the four pillars of Barco’s strategy and the UN Sustainable Development Goals (SDGs).
Barco attaches great importance to stakeholder engagement. After all, outside views help us identify and prioritize emerging issues and better align our strategy, actions and policies with the interests of our society and planet. In addition, stakeholders can provide valuable feedback on our performance and other aspects, like transparency.
2020 stakeholder engagement process
In 2020, we organized a comprehensive stakeholder engagement process, involving external as well as internal stakeholders, as input for our materiality assessment. The results have also been used to shape our activities in 2021. In total, 111 stakeholders participated in surveys and interviews.