Materiality matrix
Both JSW and the Group as a whole have diverse stakeholders, whose opinions represent a major voice that helps us conduct our business better, more effectively and more safely. As the suppliers of a strategic raw material – coking coal – necessary in the production of steel, which is the foundation of sustainable development and plays a pivotal role in the transition to zero-emission economy, we at JSW want to be sure that the measures we take meet the expectations of our shareholders. We want to run our business responsibly, with full respect for law and for all the stakeholders and parties involved.
Having regard to the preparation for the 2021 reporting process, we conducted an anonymous survey in which employees, representatives of the capital market, social organisations, contractors and business partners, including those from abroad, were invited to participate to let us know which areas are of special significance from their point of view.
The purpose of the survey was to assess 42 issues from two perspectives: to what extent could the given aspect affect the respondent’s assessment of JSW and its investment decisions and cooperation decisions, and to what extent does the given aspect, in the respondent’s opinion, impact the Group’s economic, social or environmental results.
We received 85 responses, on the basis of which we created the materiality matrix.
The results of the validation survey carried out by the end of 2021 point to particular materiality of issues associated with responsible management (including the strategic perspective), investments and the cost side of the Group’s business, sustainable development (including energy efficiency, water management, energy management, circular economy, environmental impact). Other issues respondents indicated to be of importance are risks, OHS, ethics and corporate governance. Issues related to employment and employer-employee relations, innovation and purchasing practices are also of major significance.
The results of the validation survey carried out by the end of 2021 point to particular materiality of issues associated with responsible management (including the strategic perspective), investments and the cost side of the Group’s business, sustainable development (including energy efficiency, water management, energy management, circular economy, environmental impact). Other issues respondents indicated to be of importance are risks, OHS, ethics and corporate governance. Issues related to employment and employer-employee relations, innovation and purchasing practices are also of major significance.
The stakeholders also indicated a range of other aspects, which, although not as important as those above, are still material. At the same time, analysis of the results confirmed the materiality of the key areas of responsibility outlined in the Sustainable Development Strategy 2021-2030. No significant changes were observed that would require the existing responsibility aspects to be updated. At the same time, taking into account the analysis results, certain aspects are given slightly more attention in this report. Stakeholders also point to issues related to incorporating sustainable development and innovativeness in JSW Group's development strategy. On the one hand, this is certainly the result of the changes taking place in the social and economic environment, but on the other hand it shows JSW Group's strong emphasis on these issues in recent years and solid communicating of the need to account for these issues in its business strategy.