Dialogue with stakeholders

At Galp, the relationship with our stakeholders brings us opportunities for learning, creating shared value, closeness and trust, reduction of the risk of conflict and a more informed decision-making process.

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.

Three stages of the stakeholder engagement and consultation process

The stakeholder engagement and consultation process follows three distinct stages:

  1. Stakeholders mapping and selection;
  2. Stakeholder consultation;
  3. Results assessment.

Stakeholders mapping and selection

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:

  • communications channels management model;
  • relationship SWOT analysis;
  • relevant sustainability aspects;
  • influence and dependency;
  • consultation strategy.

Stakeholder consultation

The stakeholder consultation is based on a five-section questionnaire, aimed at assessing the stakeholders perception regarding the following aspects:

  • The Company’s performance;
  • The relevance they attribute to the different sustainability issues;
  • The sustainability reporting;
  • Sustainability indexes, rankings and initiatives;
  • The Company´s relationship model with themselves.

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.

Stakeholder consultation questionnaire structure

Section Objective
A. Sustainability and strategy of Galp To assess the perception of the Galp 's performance with regard to sustainability and the Company's reputation and image.
B. Important issues To collect inputs to the process of defining priority issues (materiality analysis).
C. Sustainability reporting To assess the depth of knowledge that the stakeholder has on the Galp's sustainability practices, the médium used to obtain the information, the importance given to the existence of an integrated report, among others.
D. Indexes, rankings and initiatives To assess how the stakeholder values Galp's integration and participation in several indexes, rankings and sustainability initiatives.
E. Relationship with stakeholders To assess the level of the stakeholders' engagement with Galp and the quality of that relationship.

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:

  • Customer satisfaction;
  • Organisational climate diagnosis;
  • Suppliers assessment;
  • Feedback collection at events organised by Galp (e.g., Business Executives Meeting, Sustainability Day, Capital Markets Day).

Results assessment

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.