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In-depth study of the client’s ESG practices and maturity
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Identify material ESG issues pertaining to the company through stakeholder survey and develop a materiality matrix
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Develop forward-looking statements and a GRI-informed data-collection mechanism
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Prepare a GRI-compliant sustainability report with a view to promoting ESG practices and securing ESG funds
CLIENT CHALLENGES
- The client is a leading multi-national company engaged in advanced lubricants, fuel and auto maintenance in the Middle East. They provide cutting-edge multi-modal mobility, exporting products to more than 40 countries.
- We supported the client in preparing a sustainability report for two of their business units in line with GRI standards. There is a steady increase in sustainability reporting in the Middle East, and our client’s commitment to communicating its sustainable business practices is a testament to this.
- Our solutions enabled the client to satisfy the need for information of its diverse stakeholder groups, sustain its legitimacy in society and secure multiple benefits associated with publishing a sustainability report with the view to promoting their ESG activities and securing investment. Details of these benefits can be found here: The Business Case for Sustainability Reporting: Key Rationale and Motivations | Acuity Knowledge Partners (acuitykp.com)
OUR APPROACH
- Review of existing ESG initiatives
The team interacted with the respective stakeholders to understand the ESG-focused approaches and programmes in place and conducted an in-depth review of the client’s ESG policies, programmes and documents. This enabled them to understand the client’s ESG maturity, goals and views of its top management team. This facilitated an informed approach to developing a sustainability report, focusing on core areas for reporting purposes, gathering the necessary data points across ESG factors and developing forward-looking statements. - Materiality assessment
The team identified key internal and external stakeholders. They conducted peer benchmarking and research to identify issues relevant to the sector. They also undertook activities such as preparing a stakeholder survey, collecting responses and comparing survey results with the research and with management responses. They also conducted a focused discussion with the client team to finalise material topics and prepare a materiality matrix. - ESG KPI preparation
The project team prepared an exhaustive list of key sustainability performance indicators in line with GRI sustainability standards. They also helped the client understand important KPIs in line with the business requirement through knowledge-sharing sessions. The team also developed a comprehensive platform to help the client capture and track key ESG matrices. Next, they collected the various data points and analysed the client’s performance in the past year on GRI-compliant ESG parameters. - Report development
The team reviewed all the updated policies and documents that would be included in the report. Our internal design and branding team designed the structure of the report and requested client feedback. The project team implemented this feedback and conducted a final review of the sustainability report. Lastly, they developed the GRI index for inclusion in the sustainability report.
IMPACT DELIVERED
- The stakeholder survey and the materiality matrix facilitated proactive management of critical ESG issues affecting the entity and its internal and external stakeholder groups.
- Forward-looking statements helped readers assess the client’s strategies and goals, enabling informed and efficient decision-making.
- The development of a GRI-informed data-tracking mechanism helped the client collect and collate data for internal and external reporting purposes seamlessly.
- The compilation of a sustainability report helped communicate to a range of stakeholder groups the client’s commitment to sustainable business practices, how it is creating or preserving shared values, its ambitions and the mechanisms in place to proactively manage ESG matters.
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