In order to identify the latest trends in sustainability, integrate the expectations of stakeholders within the activities of the organisation and define reports that satisfy the requirements of stakeholders and the priorities of the Group, Prysmian launched a process in 2021 to update the materiality analysis and identify the most significant sustainability issues for its business. The matrix update process had two phases:
1. Desk analysis
During the desk analysis phase, documentary analysis of internal and external sources identified the full range of topics to be assessed. The following sources were considered:
- reports and articles on global trends (e.g. World Economic Forum);
- industry trends/reports;
- sustainability reports/non-financial statements of peers and competitors;
- regulatory developments (e.g. Decree 254 on non-financial disclosures, the European Taxonomy).
Based on the results of benchmarking, a number of topics were included or renamed. With respect to the 2020 matrix and the results of benchmarking, the following changes were made in the 2021 materiality analysis:
- “Development of human capital and well-being” was renamed “Involvement and upskilling of employees”;
- “Multiculturalism, diversity and equal opportunity” was renamed “Diversity, inclusion and equality”;
- “Energy efficiency and mitigation of and adaptation to climate change” was renamed “Decarbonisation pathway to net-zero emissions”;
- “Economic performance and value creation” was included as a new topic.
The updated list of topics assessed in 2021 is presented below: