As in the past, to identify the most relevant non-financial topics, in 2017 pur Sustainability Committee updated the materiality analysis in line with the principles set out by the GRI Sustainability Reporting Standards (GRI Standards), published in 2016 by the Global Reporting Initiative (GRI).
The list of non-financial topics of interest for the Group were updated on the basis of several preliminary analyses (benchmarking and media analysis), a survey of the contributions received from the directors of Mondadori business areas (Trade Books, Educational, Retail, Magazines Italy, and Mondadori France), and a map of the information requirements of significant stakeholders and the topics highlighted by the GRI Standards and the “G4 Sector Disclosures – Media” sector supplement.
Then, in order to identify the material issues for the Company and its stakeholders from these topics, a workshop was held with the Sustainability Committee, during which its members prioritised the topics on the basis of their relevance for the Group.
The materiality of each topic for the Company was determined considering the perception of the members of the Sustainability Committee as well as an assessment of:
- the commitment and the policies adopted by the Group regarding each issue;
- the impact of each issue on the Company’s ability to deliver its long-term objectives;
- the risks connected with the non-financial matters analysed.
To determine the materiality of the sustainability topics for stakeholders, the outcomes of the preliminary analyses conducted were taken into consideration, i.e.:
- the media analysis, aimed at examining the importance of each sustainability issue in the media and for public opinion;
- benchmarking with other, Italian only, companies in the media sector, to understand the sustainability issues they address most and which are therefore of greatest relevance at the industry level;
- analysis of the main papers produced by associations, NGOs and industry organisations, in order to identify the most recurrent topics linked to the sustainability issues for the sector in which the Group operates;
- the mapping of the main sustainability issues addressed by policy makers, major world stock markets and the most important and influential non-governmental organisations in their papers and reports.
The combined outcomes of these analyses led to the identification of the material non-financial matters necessary to facilitate comprehension of the company’s operations, its performance, results and impact, and hence subject to reporting in the non-financial statement of the Mondadori Group.