DISCLOSURE 102-42: IDENTIFYING AND SELECTING STAKEHOLDERS
Stakeholders are defined as groups or individuals that are significantly affected by the organization’s activities, products, and/or services, or whose actions can reasonably be expected to affect the ability of the organization to successfully implement its strategies and achieve its objectives. Stakeholder engagement is an essential part of responsible business practice and is key to capturing opinions and insights from across our business.
In the context of the Sustainability materiality analysis, Sika reviewed the various stakeholder groups in 2018. A set of stakeholder groups was selected and prioritized / categorized according to the potential impact of Sika on the stakeholder and the stakeholder’s ability to impact Sika. The results were verified with different entities within Sika (CTO, control panel with Senior Management) and largely confirmed the findings from the previous analysis. Overall, the financial community and regulators assume greater importance due to an evolving business landscape and shareholder structure. In the same year, the most relevant stakeholder groups were consulted for their contribution to the materiality process. Material aspects and topics were reviewed to detect any changes of priority or need for re-evaluation.
DISCLOSURE 102-43: APPROACH TO STAKEHOLDER ENGAGEMENT
In the reporting year, as part of the periodic review of our sustainability priorities, Sika specifically engaged with selected principal internal and external stakeholder groups to review the most recent materiality analysis, conducted in 2015.The following groups were approached via an online survey to provide input in defining the future strategic framework and priorities: employees, customers, financial analysts, investors, Sika Management, suppliers, academia and sponsoring partners. The results were integrated in the materiality analysis (see chapter 6: Reporting Practice).
Sika established a Sustainability Advisory Board (SAB) in 2016. An independent expert opinion aimed to provide Sika management additional guidance regarding the direction and implementation of Sika’s Sustainability Strategy. In 2020, the SAB met twice, in July and in November. The focus topics concentrated on the target areas “climate change” and “product sustainability”. Further focus topics were encompassing the new initiative “Together for Sustainability” (TfS) that Sika joined in 2020 and a status report on the implementation of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).