Materiality is the principle whereby companies include in their reports information about the factors that have a concrete effect on their capacity to create long-term value. Each year, our materiality analysis is updated in order to identify issues relevant to the Strategic Plan and sustainability reporting. At Eni, material sustainability topics are defined according to a process of identification of all the issues which are important to Eni's external and internal stakeholders, using a multi-stakeholder approach. The identified topics are then prioritised.
The materiality of each topic is defined according to the following priorities:
- The importance of the stakeholders and their demands;
- ESG risks resulting from the Integrated Risk Management (IMR) process; the assessment of these risks also takes into account the potential HSE, social and reputational impacts;
- Scenario elements - these are also defined according to the topics addressed during the meetings of the Sustainability and Scenarios Committee (SSC) during 2020.
The combination of these analyses ensures that attention is paid to issues which are important to stakeholders and also to the company itself.
The management team involved in the sustainability reporting process will validate the material topics, which are then presented to the Sustainability and Scenarios Committee and the Board of Directors.
The identified issues form the basis for the content of the sustainability report.