Every year our Sustainability Committee updates the materiality analysis in order to determine the most important sustainability issues, both inside the company and for its main stakeholders.
The level of importance of the issues is assessed in several stages:
- mapping and classification of stakeholders;
- identification of materiality issues;
- evaluation of the materiality of these issues.
In 2016 we updated the materiality analysis in accordance with the Sustainability Reporting Guidelines of the Global Reporting Initiative (version GRI-G4).
In order to identify material issues for the company and its stakeholders, a workshop was held with the Sustainability Committee which firstly mapped and prioritised the stakeholders, and then identified the most significant sustainability issues from among those indicated by the GRI-G4 Guidelines and the “G4 Sector Disclosures – Media” sector supplement.
During the workshop, the members of the Sustainability Committee put the issues in order, considering their relevance both for Mondadori and for its stakeholders. In accordance with the GRI-G4 Guidelines, when prioritising the sustainability issues due consideration was given to the relevance of the impact of each one both within and outside of the reporting scope, i.e. along the Mondadori value creation chain.
The significance of each sustainability issue for the company was decided upon considering the perception of Sustainability Committee members as well as an assessment of:
- the commitment and the policies adopted by Mondadori regarding each issue;
- the impact of each issue on the company’s capital.
To determine the significance of sustainability issues for stakeholders, the results of the preliminary analyses conducted were taken into consideration, i.e.:
- media analysis activity which made it possible to analyse the media relevance and the attention of public opinion to each sustainability issue. The analysis was carried out with reference to the Group’s different business areas, the latest events in which it has been involved and the sectors in its supply chain (paper mills, printers, etc.), so as to evaluate the impact of each issue, even outside the scope of the company;
- benchmarking with companies, not only Italian, working in the media segment, which made it possible to understand which sustainability topics they focus on and therefore are most significant at sector level.
On the basis of the aforementioned analyses, Mondadori’s priority sustainability areas were therefore identified by matching the relevance for the company with that for the stakeholders.
We note the following in particular:
- the most important issues in terms of their materiality for Mondadori and its stakeholders are: the search for editorial product quality, focus on the core businesses, digital evolution, human capital management, the promotion of culture and reading and editorial independence;
- the majority of the issues related to Mondadori’s specific business were judged to be material (accessibility of output, freedom of expression, editorial independence, search for editorial product quality, privacy and data protection, media culture, intellectual property and promotion of culture and reading);
- in line with the process of expanding the franchising network set forth by the company and the growing attention dedicated to accessibility to editorial products, the decision was made to include the widespread nature of the sales network amongst the material topics for Mondadori as well, as it is significant for the company as well as its stakeholders;
- as regards environmental impacts, the aspects that are most significant for Mondadori and its stakeholders are those linked to the life cycle of paper products and climate change.
Mondadori is subject to Italian Legislative Decree 254/2016 (“Implementation of Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups”). For sustainability disclosures published beginning in 2017, this decree requires the inclusion of non-financial information that can facilitate comprehension of the company’s activities, its performance, results and impacts, and lists a set of disclosures which, based on the formulation of the law, appear to be compulsory. While waiting for a prevailing interpretation of the law to materialise, and with a view to progressively coming into line with it, Mondadori decided to continue providing those disclosures, although some of them are not considered material based on the updated materiality analysis. These topics are highlighted in red in the materiality matrix.