Our commitment to take into account the expectations and needs of our social partners (stakeholders) - that interact with our activities within and outside the boundaries of our facilities – is presented in the diagram below.
Based on our principles and values, strategy, activities, market, neighbouring areas and society, we annually redefine who our social partners (stakeholders) are and how they affect, and in turn are affected by the Group’s business activities (Materiality Assessment).
The Group’s strategy and all of its actions aim to establish relationships with these stakeholders so that the Group can in turn respond to their needs, minimize reputational and operational risks and exploit the competitive advantages that these synergies create.
The materiality assessment was an additional tool with which we investigated our stakeholders’ opinions and expectations, in addition to conventional modes of continuous two-way communication and dialogue with our stakeholders, as presented in the “Stakeholders Diagram’’.
We strive to exchange information, views and recommendations, share activities and work in partnerships towards common objectives. Engagement may take the form of one-on-one meetings, expert input forums or roundtable discussions, industry coalitions or formal partnerships.
There are many mechanisms that facilitate bidirectional communication between Management and shareholders - employees. These include the General Assembly, the participation of representatives of employees and minority shareholders on the Board, the shareholders information desk and employee unions.
Indicatively, other information and communication mechanisms include:
- Annual, semi-annual and quarterly reports and publications that are available on the Group website
- Group executives (higher than section managers) quarterly meetings where the Group’s financial and operating results are presented, analyzed and discussed
- Two-way communication with the investing community is ensured through roadshows/ participation in conferences (8-10 times per year), quarterly meetings with analysts, meetings with institutional investors, refinery field trips with financial analysts & institutional investors
- Information meetings - discussions with the engineers from the industrial plants
- Regular meetings with elected union representatives.
- Τhe Employee Suggestion Program
Cooperation – Dialogue with Participation
Consultation with Stakeholders
Our commitment to consultation and communication with our stakeholders is implemented through mechanisms such as:
- materiality assessments
- public opinion surveys
- surveys to improve the work environment
- customer satisfaction surveys
These mechanisms, the adoption of international standards, as well as communication with our stakeholders as shown in the “Stakeholders Diagram’’, contribute to information feedback, evaluating needs and expectations and our responsiveness through actions and programs.
In order to be consistent with our commitment to meeting the needs of all our stakeholders, in 2013 we conducted a corporate Materiality Assessment & Stakeholder Engagement in order to identify and evaluate the most significant (material) aspects of social responsibility and sustainable development.
The 2015 Materiality Analysis followed a process including a survey and interviews with the stakeholders, within and outside the organisation, to identify new material issues. This process identified 26 material aspects of high probability and high risk, analytically presented at http://sustainabilityreport2015.helpe.gr/en/operational-efficiency-performance/GRI-G4-point/ (DMAs on Material Aspects).
Graphical illustration of the Material Aspects (Materiality Matrix)
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