Coming from the financial world, the concept of materiality refers to anything that can have a significant impact on a company, its activities and its ability to create financial and non-financial value, for itself and its stakeholders.
In 2017, Schneider Electric renewed its materiality analysis by questioning relevant external stakeholders (customers, suppliers, trade associations, international organizations, experts, shareholders, members of the board of directors, etc.), and top and senior managers within the Group (Strategy, Country Presidents, Safety/Environment/Real Estate, Businesses and Services, Human Resources, Industrial design, IoT and digital transformation, European Works Council, etc.). The participants represented 5 nationalities; 32% of the respondents were women, 68% were men.
With the help of consulting firm B&L evolution, the aim is to ensure that Schneider Electric reports against the most important economic, social and environmental issues; identifies current and future opportunities and risks for the business; and updates its sustainability agenda with the key stakeholders’ expectations. In particular, the materiality matrix was one of the sources used to design Schneider Sustainability Impact and to confirm the topics to be addressed in its registration document.