Stakeholders dialogue and materiality analysis
Kendrion attaches great importance to good relationships with its stakeholders. The selection of relevant stakeholders is based on questions such as who might be positively or negatively affected by the organisation’s decisions or activities and who can affect the organisation’s ability
to meet its responsibilities? Kendrion’s relevant stakeholders are its customers, suppliers, employees, investors and the communities in which Kendrion is active. Kendrion aspires to engage in transparent communication regarding the manner in which the company carries out its activities to create long-term value.
ESG (Environment, Social and Governance) is becoming an increasingly important issue for Kendrion’s investors. Kendrion holds annual personal discussions with some of its major shareholders and banks, in which Kendrion presents its strategy and objectives, and also discusses the investors’ ESG and compliance policies within the context of their investments. In various roadshows, management also shows potential investors the relevance of sustainability for Kendrion.
Kendrion won the 2017 Dutch IR Award of The Netherlands Association for Investor Relations (NEVIR). This was awarded to Kendrion for being the ‘Best Company in the field of Investor Relations’ in the category AScX/other. According to the NEVIR, the company excelled in investor relations and financial communication in 2016.
Kendrion participates in the Dutch Ministry of Economic Affairs, Agriculture and Innovation’s Transparency Benchmark, which monitors the Netherlands’ 500 largest companies. Kendrion improved its ranking from 60th place in 2016 to 37th place in 2017.
In 2017, Kendrion was awarded the no. 6 ranking (2016: no. 7) in the Dutch Tax Transparency Benchmark.
This Review focuses as much as possible on the issues which are most important to Kendrion, its employees and stakeholders; the key issues. The selection of these key issues is based on a materiality analysis.
The materiality analysis is partly carried out based on a number of material aspects as described in the G4 Sustainability Reporting Guidelines of the GRI. The pre-selection of these material aspects by the CSR Board has been made with due regard for:
- The nature of Kendrion's activities and business processes;
- The demands made of Kendrion and its products by its customers in connection with sustainability in the short and long term (the urgency);
- Kendrion's potential impact and influence in the chain in the short and long term;
- The potential benefit for Kendrion;
- The effort it takes to implement measures in Kendrion's business processes and activities, with a view to the other strategic spearheads;
- The relevance to stakeholders and the possible effect on them.
A list of potential material aspects from the perspective of stakeholders is included in an online survey. The survey has been disseminated to certain groups of employees (including the CSR Ambassadors in each of the operating companies), the CSR Board members and a selection of clients and suppliers.