Since 2010 we have carried out a formal corporate process of stakeholder consultation on sustainability issues. This procedure identifies and prioritises the main stakeholders and relevant sustainability issues, in accordance with the criteria of norm AA1000 Stakeholder Engagement Standard from AccountAbility (AA1000SES).
In 2014, we developed a new corporate exercise of stakeholder engagement and consultation. This process was subordinated to identifying our stakeholders’ expectations and views with regard to sustainability, and to reviewing our materiality matrix.
Galp expects to carry out a new formal stakeholder consultation process in 2018, across the whole Company.
The stakeholder engagement and consultation process follows three distinct stages:
At Galp, we manage, characterise and engage with a wide range of stakeholders who, in accordance with the mapping carried out, are part of the following groups:
The stakeholder identification and mapping is done, periodically and systematically, by attributing a priority level to each stakeholder, using the influence and dependency criteria of the AA1000 Stakeholder Engagement Standard methodology from AccountAbility (AA1000SES).
Based on the stakeholder groups and sub-groups defined in the mapping, we conducted our data collection (which involves the entire Organisation) in order to characterise our stakeholders in detail, with regard to the following aspects:
The stakeholder consultation is based on a five-section questionnaire, aimed at assessing the stakeholders perception regarding the following aspects:
The data collection is carried out by employing a specific consultation questionnaire, in an online platform, through individual interviews (in person, by telephone or videoconference) or through focus groups sessions.
The last consultation exercise provided more than 600 responses, which is a representative sample of the universe of our stakeholders, in the various business segments and regions where we operate.
Galp has other specific means of regularly consulting with its stakeholders, namely:
The analysis of the data collected in the consultation process was carried out based on the assignment of a weighting, at the stakeholders group and Business Units/Management Units (BU/MU) levels, with the responses collected being consolidated at each BU/MU level, and then at the Galp Group level.
At Galp we understand that the stakeholders consultation results are a useful source of information which is then used in identifying and prioritising Galp’s material issues. For that reason, those results are of critical importance, and they contribute to strengthening relationships with our stakeholders, realigning stakeholder engagement strategies and assessing the materiality of the sustainability aspects.
Learn more about our approach to Materiality.
More about engaging with stakeholders
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