Materiality matrix

The material topics, namely the most significant issues identified via a context analysis and shared discussion with internal and external stakeholders, form the basis for our strategic sustainability planning and performance reporting.

The process

Via the materiality analysis process, we identify the most important economic and governance, social and environmental or "material" topics for the Group and our stakeholders, considering their impact on the business and on the parties concerned.

The analysis is divided into phases – documental and contextual analysis, comparison with internal and external stakeholders and with company managers, processing of the matrix and return of the results. The output of the process is the materiality matrix, a two-dimensional graph, where the topics are placed in order of their importance.

In 2019 we developed a materiality analysis, identifying the issues that are relevant for the group and our stakeholders, assigning a graphical representation in the materiality matrix. The analysis was to have been applicable for about two years, but following the new needs arising from the Covid-19 emergency we decided to review the adequacy of 2019 topics in view of the variable contextual conditions.

During 2020 we therefore conducted a follow-up project, which provided for :

  • an analysis of the new emergency situation generated by the Covid-19 pandemic, particularly the findings associated with the emergency phase and recovery guidelines, in order to identify the ongoing and prospective trends, also relating to the «new normality»;
  • a «reinterpretation» of material 2019 topics based on the findings that emerged from the contextual analysis, which confirmed the validity of the 19 issues and gave further consideration to 12 of them;
  • the direct engagement of both internal and external stakeholders, via a digital multi-stakeholder focus group and specific one-to-one interviews. The aim of the engagement was to take on board the stakeholders’ reflections on the health crisis, analysing together the new reference situation and recording their expectations as regards our potential role in the recovery process of the communities where we operate;
  • the direct involvement of the Group’s managers, by means of a virtual meeting with 25 company managers who have analysed the findings that emerged from the multistakeholder consultation and the most strategic aspects of the «new normality» for the recovery, also considering the stakeholders’ viewpoints.

This process confirmed the relevance and validity of the issues identified in 2019.

Materiality matrix

The following materiality matrix shows the results that emerged from the engagement of internal and external stakeholders, aimed at verifying the validity and resistance of the material topics in view of the contextual developments during 2020. These results are set out in a two-dimensional graph showing the distribution of the 19 economic and governance, social and environmental issues according to low, medium and high importance (prioritisation). More specifically, 16 topics were considered highly important and 3 of medium importance.  All the “material” topics are in keeping with the Group’s strategic and sustainability planning. We shared the findings that emerged from the analysis with the stakeholders, the managers involved and the Group’s Top Management, via dedicated reports, and we illustrated them to the members of the Ethics and Sustainability Committee and Control and Risks Committee, in a joint session with the members of the Board of Statutory Auditors.  

  • social topics
  • economic and governance topics
  • environmental topics