Materiality Analysis Process
The definition of the
topics that are relevant for its stakeholders is very important for Brembo to
identify the contents of this Disclosure and direct its sustainability strategy. In such regard, the Group has adopted
GRI Standards of materiality, inclusiveness, sustainability context and completeness in order to ensure to all its stakeholders a proper understanding of its activities, objectives, results and related impacts on the context in which the Group operates. For this reason, the Group carries out each year the
materiality analysis process in order to identify the areas in which its activities may have the greatest impact on natural ecosystems, as well as on the wellbeing of the community, individuals and all of its stakeholders.
In 2020, Brembo involved representatives of the
company’s top management in a process aimed at
assessing and updating the materiality matrix. In line with last year, the potential new topics were identified by considering various
sources: the issues reported in 2019, the subjects that emerged from interviews of top managers and members of the CSR Meeting (formerly CSR Steering Committee), and benchmarking activities. Moreover, considering this particular year, which was characterised by the Covid-19 crisis, in their assessments the interviewees sought to identify the impacts of the virus regarding material issues and which type of stakeholder it is important for the Group to work on, launching projects targeted at tackling the identified impacts.
categories into which the topics are divided are the same as in 2019: ‘Environment’, ‘Customers and Products’, ‘Suppliers and Local Communities’, ‘Human Resources Management’ and ‘Other Topics’. It bears emphasising, once again, that the aspects relating to governance, legal compliance and economic performance associated with the creation of economic value are considered prerequisites in the materiality analysis and will therefore be explicitly presented in the sustainability report, but will not be subject to specific assessment and inclusion in the Materiality Matrix.
When formulating the 2020 Materiality Matrix, the 17 material topics identified in the interviews were then rated by the CSR Meeting and external stakeholders. The
CSR Meeting stakeholder group comprised the Chief CSR Officer, the Chief Executive Officer and 9 managers, who evaluated the materiality of the topics by completing an online questionnaire and expressing their opinions, both by taking Brembo’s perspective and interpreting the views of the external stakeholders with whom they interface daily. Differently from the previous year, a wider sample of external stakeholders was directly involved. For the current reporting year, a stakeholder engagement process involving suppliers and customers, together with trade associations and insurance companies, as its main participants was launched.
The combination of all evaluations received is illustrated in the
2020 Materiality Matrix, the basis for reporting valid for the three-year period 2019-2021.
The matrix includes the 17 most significant topics, considered by Brembo and its stakeholder, which are placed along two axes:
► the abscissa axis reflects the materiality of the Topics for Brembo;
► the ordinate axis reflects the
materiality of the Topics for the Group’s main stakeholders.
The matrix was reviewed and approved by the Board of Directors on 17 December 2020, following examination by the
Audit, Risk & Sustainability Committee, in the meeting held on 10 December 2020.
The matrix will be subject to constant
updates to take account of rapid developments in the sector and international megatrends.
In accordance with international best practice, Brembo has identified the links between the priorities defined in the materiality matrix and analysed their impact on each of the
Global Agenda’s goals. The result of this activity can be observed clicking on the image of the Matrix below.