The materiality analysis represents an important tool for identifying the key sustainability issues that need to be monitored, thanks to integrating requests from external stakeholders and corporate strategies.
The materiality analysis process is aimed at identifying the most relevant social, environmental, economic and governance or “material” issues for the Group and for the parties concerned, considering their impacts on business and on stakeholders. We structure the process into various stages: document and context analysis, exchange with internal and external stakeholders and relevant feedback, presented in the form of a materiality matrix, a two-dimensional graphic in which issues are mapped based on their relevance.
Internal relevance was defined through meetings with Top Management and the main contacts at subsidiaries, to assess their strategic importance for the Banca Ifis operations and any impacts that they may generate. As regards external relevance, the Group has analysed the needs of all stakeholder categories.
Specifically, to improve the materiality analysis process, from 2019, we have introduced web listening, as a new listening method. This activity, which is part of the «Fattore I» project, has allowed us to give a voice and new measurement to customer expectations, specifically, SMEs, through a neutral and large-scale survey of reference market expectations, by listening to web conversations and interactions.