Materiality matrix
For years, the JSW Group has disclosed a range of non-financial sustainability information in its reports and statements, including on the environment, labor, safety, risk and corporate governance.
As a company with a significant impact on its immediate external environment, including the natural environment or local communities, JSW pays particular attention to the most sensitive and vulnerable areas affected by its operations.
Both JSW and the Group as a whole have diverse stakeholders whose opinions are an important voice in helping us run our business better, more effectively and more safely. As a supplier 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 a zero-emission economy, we at JSW want to be sure that the measures we take meet the expectations of our stakeholders. We want to conduct our business responsibly, with full respect for the law and for all stakeholders and parties involved.
With a view to preparing for the 2021 reporting process, the Parent Company conducted an anonymous survey, inviting employees, capital market representatives, social welfare organizations, contractors and business partners - including foreign ones - to identify areas of particular importance 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, based on which we created a materiality matrix.
The results of the validation survey carried out by the end of 2021 have pointed 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 a larger-scale materiality study conducted in 2021, which involved numerous groups of the Company's stakeholders, were still valid in 2022, so the Parent Company decided not to conduct a new impact study.