eNGAGING WITH STAKEHOLDERS
Stakeholder dialogue was identified as one of the nine most material topics in our materiality analysis. We aim to enhance transparency by maintaining continuous dialogue with our key stakeholders.
Outotec defined its key stakeholders in connection with the materiality analysis review conducted in 2014. Approximately 120 Outotec leaders shared their views on the relevant topics and stakeholders, and the results were verified by Outotec’s Sustainability Advisory Council. The material topics and stakeholders are reviewed at 2-3 years intervals by the Corporate Responsibility function and the Sustainability Working Group. In 2017, a Global Procedure for stakeholder engagement was launched as part of Outotec’s globally harmonized Quality, Environment, Health and Safety Management System (GRI 102-42).
The Executive Board reviews the effectiveness of our stakeholder engagement and gives briefings to the Board of Directors. In addition, Chief Compliance Officer reports the issues raised through grievance mechanisms to the Board of Directors (GRI 103-3).
We have defined the following groups as our key stakeholders (GRI 102-40):
We also consider our planet and future generations as stakeholders when evaluating whether Outotec’s offering and operations are future-proof.
In a review of key stakeholders conducted during 2016 by the Sustainability Working Group and the QEHS team, the academic community was added as a key stakeholder group due to frequent business-related engagement. The Sustainability Working Group has not identified any stakeholder groups that Outotec would not engage with.
In 2017, a Global Procedure for stakeholder engagement was launched as part of Outotec’s globally harmonized Quality, Environment, Health and Safety Management System (GRI 102-42).
To measure our success in engaging with stakeholders we have set targets related to customer surveys, employee engagement and local community engagement initiatives.
Outotec’s Sustainability Advisory Council, established at the end of 2014 to advise the company regarding sustainability trends, strategies and reporting, has given input on how our stakeholders view the economic, social and environmental impacts of our decisions. The six Council members represented customers, investors, suppliers, NGOs and academia. In 2017, we decided to continue our stakeholder dialogue through our regular engagement tools and methods, and the Sustainability Advisory Council ceased to convene.
We have asked our employees for feedback about the report, future themes and topics of interest in sustainability communications, using our internal social media. We have also discussed our sustainability reporting with some of our largest shareholders and sustainability focused portfolio managers and received feedback from them. Other forms of stakeholder engagement were not undertaken specifically as part of the report preparation process (GRI 102-43).
To collect open feedback from our stakeholders we have published a form on our website through which feedback can be submitted anonymously. Through this public feedback channel there were no concerns raised in 2017.
Stakeholder expectations and feedback (GRI 102-44)
|Stakeholder group||Expectations||Our engagement tools|
|Investors and financiers||
|NGOs and local communities||
Community involvement is one of the material topics at Outotec. As a buyer of goods and services, Outotec generates employment and contributes to socio-economic development in local communities. Our cooperation with universities and subcontracting R&D work packages generate local jobs and enhance skills and knowledge development.
Our reporting on community involvement covers the cooperation with the academic community, voluntary work of our employees, as well as local initiatives of our largest manufacturing units, R&D centers and project sites (GRI 103-1). The key impacts of community involvement are related to wealth, social acceptance of the company’s operations, Outotec’s reputation as well as supporting science, research and education.
Our target for 2017 was to start one new community project. This was achieved through our involvement in the Sustainability Master Class program at the University of Helsinki in Finland.
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