MATERIAL MATTERS
OUR MATERIALITY PROCESSES
In addition to identifying the top risks we face in the current operating environment, we identify the most significant economic, environmental, social and governance matters that have the potential to impact on our ability to create sustainable value.
Matters that are material to the sustainability of our business relate to our internal and external operating environment, key stakeholder concerns, and the risks that may or do impact on our business. Consideration of these matters informs our business model, strategy, capital resource allocation and stakeholder engagement process. Material matters are identified by drawing information from a range of sources, as indicated in the analysis below.
MATERIAL MATTERS ANALYSIS
The advent of COVID-19 has radically changed the environment in which we operate as well as stakeholder expectations and perceptions. The following analysis examines matters that are material to the sustainability, success and growth of our business. In each case, we describe the nature of the matter, our response to it, the impact of our response on our stakeholders, the strategic objectives of that response, the risk areas it relates to and the immediate considerations or outcomes we have to consider as a business.
STAKEHOLDER ENGAGEMENT
Stakeholders are at the heart of everything we do and, since 2018, we have been working to become more stakeholder-centric throughout our organisation. Guided by our Stakeholder Relations Management Strategy, which is aligned to our Sustain and Recover Strategy and our Growth Strategy, we are increasing our level of stakeholder engagement and being more proactive in all situations. Now, more than ever, we are aware of the role that stakeholders play in value creation and our long-term sustainability, and we are playing an active role in nurturing and enriching those relationships.
As in the previous period, we continue to prioritise engagement with government, the financial community, the aviation industry and the private sector about key issues like business sustainability, funding and the operation of airports according to COVID-19 management regulations.
STAKEHOLDER GROUPS
As the operator responsible for running the country’s nine largest public airports, our stakeholder groups extend throughout society and the economy. The following diagram illustrates the stakeholder groups we engage with on an on-going basis.
STAKEHOLDER ENGAGEMENT CYCLE
Engagement with our stakeholders is conducted according to established procedures. The following diagram outlines the way in which we continuously engage with our stakeholders.
STAKEHOLDER CATEGORIES AND METHODS OF ENGAGEMENT
When we reviewed our strategy and corporate plan in 2020, we updated the way in which we categorise our stakeholders in order to facilitate more active and effective engagement. The following tables illustrate how we categorise stakeholder groups and engage with them.
OUR STAKEHOLDER CATEGORIES
The following table illustrates how we categorise stakeholder groups and has been updated in the year under review.
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