NAT.A03.EE Stakeholder Engagement Coverage
About the data
This metric was designed by The World Benchmarking Alliance, more information can be found here. Sources and Alignments for each indicator can be found here as well as the scoring guidelines here
The World Benchmarking Alliance's Nature Benchmark measures and ranks the world's most influential companies on their efforts to protect our environment and its biodiversity.
This metric relates to the Indicator: The company engages with stakeholders on sustainable development issues and incorporates the outcomes of these activities in its strategy and operations.
Rationale: Serving the interests of all stakeholders is key to businesses' long-term success. Regularly engaging with stakeholders contributes to the company's understanding of diverse and frequently opposing perspectives, drives innovation and helps to shape robust and inclusive approaches. Companies are expected to engage in meaningful stakeholder engagement. Engagement processes are expected to produce a clear output or action and an acknowledgment of how stakeholder inputs are used.
Methodology
WBA analysed all publicly available group-level disclosure in English on the applicable group website, which was predominantly annual reports and sustainability reports. Draft assessments were then sent to each company inviting them to provide feedback. This feedback could include additional publicly available group disclosure published. These were then reviewed and finalised. Final assessments were then shared with each company before being published online.
For this metric stakeholder engagement needs to cover both nature and social issues. The issues related to nature must go beyond GHG emissions and touch on aspects related to ecosystems or biodiversity. Social issues must go beyond safety, and include aspects such as diversity, inclusion, or women's representation.