To this end, between April and June 2018, we conducted a stakeholder survey; a so-called 'materiality analysis', a process during which we enter into a dialogue with key stakeholders to get their views on ‘What do they consider being the most important topics for Vattenfall to focus on?’ And ‘Where/in what area does Vattenfall impact people, planet and profit the most?’
The results will help us shape our strategic and sustainability focus areas to ensure we meet the expectations of our stakeholders moving forward.
Vattenfall 2018 Materiality Analysis
Over 2,700 stakeholders provided their feedback during the process, and from this feedback, eight material topics emerged:
- Reduce CO2 and fossil fuel dependency
- Provide affordable energy
- Increase renewable production capacity
- Protect nature and species
- Develop sustainable energy services and solutions
- Minimise non-CO2 emissions
- Safely dispose of nuclear waste
- Provide affordable and stable grid infrastructure
Vattenfall's four strategic objectives reflect the issues that stakeholders consider most important and where Vattenfall has a clear impact.
Most material topics are linked to Sustainable Consumption and Sustainable Production. The three most material topics include ‘Reduce CO2 and dependence on fossil fuels’, ‘Provide affordable energy’ and ‘Increase renewable energy capacity’.
Stakeholders considered topics linked to Empowered and Engaged People and High Performing Operations to be enablers of our success, and thus more as hygiene factors. These topics include ‘Responsible procurement and sourcing of fuels’ , ‘Ensuring efficiency of own operations’ and ‘Ensuring decent work and working conditions’ , among others.
Further, the eight material topics also confirm our six prioritised UN Sustainable Development Goals, indicating that our strategy continues to focus on the areas in which we can have the greatest impact on sustainable development.
Based on interviews performed, Vattenfall's credibility on key strategic and sustainability issues has improved since the last materiality analysis in 2016. However, stakeholders still expect Vattenfall to communicate more about its sustainability performance and ambitions, in particular by providing concrete examples of our activities.
Evaluation of material topics over time
Of the eight material topics, three topics increased in importance compared to 2016: ‘Provide affordable energy’, ‘Protect nature and species’ and ‘Provide affordable and stable grid infrastructure’.
Five topics were carry-overs from 2016 (‘Reduce CO2’, ‘Increase renewable energy capacity’, ‘Safe disposal of nuclear waste’, ‘Minimise non-CO2 emissions’ and ‘Develop new solutions and services’).
Between April and June 2018, over 2,700 people (including almost 350 employees) from all stakeholder groups on Vattenfall's main markets took part in the dialogues. The dialogues took place via four primary channels:
- Consumer panels: Germany, Sweden and the Netherlands, >2,300 representatives
- Interviews: Denmark, Germany, the Netherlands, Sweden and the UK, ~40 representatives
- Surveys on intranet, corporate websites and in social media: Denmark, Finland, Germany, the Netherlands, Sweden and the UK, >380 participants
- Targeted emails: sent to key stakeholders