What Matters to Us and Our Stakeholders
We have outlined below the most material topics that drive our long-term value creation. These span economic, environmental and social topics, and are key drivers for our long-term business performance. We regularly undertake a materiality analysis of these topics which we think are the most important issues that drive long-term value creation and assess how these contribute to our overall corporate standing.
Our Process
We came up with an effective materiality matrix by collaborating with our key stakeholders. We conducted materiality assessment surveys and discussions to identify the latest issues that are most important to our stakeholders and those that impact our business. These discussions considered and explored both internal and external factors, like the SDGs (Sustainable Development Goals) that affect the material topics.
We reassessed our material topics for 2022 and to ensure that our materiality matrix is not skewed at a particular section, we ensured that there is sufficient representation of in our materiality assessment process. We involved employees from across ranks and various business units and we invited external stakeholders to participate. The result is a better determination of our company’s issues and areas of concern that affect our company’s stakeholders and operations. The Executive Committee and the Board concurred and confirmed the materiality of the identified topics.
Our Inputs
- Our Board Strategy
- Our Stakeholder Expectations
- Our Operating Context
- Our Risk Assessment
1
Identification
We review our businesses and identify the topics that matter most to our governance and operation in the context of economic, social and environment.
2
Scope and Review
We review our material topics annually by closely taking a look at our operations, engaging our stakeholders and identifying areas where we can continue contributing to a more sustainable society.
3
Approval
Our Board deliberate our identified material topics and integrate them into the development of our business strategy and sustainability program objectives.
Our Stakeholders
We engage to our stakeholders as they are our partners in value creation.
Our Co-Workers
We are a team of diverse, creative and dedicated employees.
Our Supply Chain Partners
We serve as the community, partner and marketplace of diverse local and international partners.
Our Investors, Shareholders and Providers of Capital
Some of our business units are listed in the PSE making us a company that has a big shareholder base.
Our Regulators
Our businesses require partnerships and compliance with various agencies from local to national which include close coordination with the SEC and other external regulatory bodies.
Our Customers
We interface with individual customers as well as MSMEs and B2B customers.
Our Community Partners
We operate in various parts nationwide where we deal with communities that include LGU, educational institutions and local residents.
Our Sustainable Development and NGO Partners
We drive community development where we engage partnerships with NGOs and other civil society.
Our Media Partners
We deal with the media that include journalists, publishers in print and TV, and other online social media to communicate our business goals and aspirations.
What Matters to Our Stakeholders and How We Impact the Environment and Society
Three important issues emerged which reflected the concerns of the Group post-pandemic. These are the most material issues that have the greatest impact on our business and the generation of long-term value: Employee Development; Employee Well-being, Health & Safety; Customer Welfare; Ethical Practices and Anti-Corruption; Human and Labor Rights; Climate Change; Protection of Biodiversity and Natural Resources; and Environmental Resources Management.
The pandemic crisis has left an indelible mark in the way we operate and focus on the well-being of our customers and employees has become a very important lever of our business growth. We improved on customer touchpoints by making available various innovative customer channels. This strong focus on customer experience ensures loyalty and market growth, things needed to bounce back from our COVID-19 experience. Our employees, being our asset base, continue to be highly important aspects of our business. Their development and well-being are highly material in providing service to our customers and making accessible our products and services.
What’s Important for Us to Create Shared Value
The purpose of our businesses is to serve as catalyst for development in the communities we serve through the synergy generated by our unique ecosystem of sustainable businesses. We identified what are critical for us in order to create consistent value that can be shared by our stakeholders aligned to what matters to them. We work on these issues at all levels of leadership from our strategy to day-to-day delivery of our products and services – clearly exhibited the values that the SM brand represent.
