Key stakeholders and materiality of information in the report of the KGHM Polska Miedź S.A. Group

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Since the inception of the KGHM Polska Miedź S.A. Group, good relationships with stakeholders based on mutual understanding and trust have been crucial for the Group. The Group exerts a significant impact on its economic, social and natural environment, of which it is fully aware and for which it accepts responsibility. Cooperation, as one of the Group’s values, is the basis for its success in business and social activities. The Group builds relationships with stakeholders based on partnership and complete transparency, with an awareness of their importance in its long-term strategy and sustainable approach to business and its growth. The basis of this process is dialogue geared towards learning about mutual expectations and capabilities and implementing agreements.

Lidia Marcinkowska-Bartkowiak
Executive Director, Communications

Key stakeholders in the KGHM Polska Miedź S.A. Group

Key stakeholders are all entities that exert significant influence on the functioning of the KGHM Group and KGHM Polska Miedź S.A. and that are affected by the Group and the Company, operating in the business and social space. All stakeholder groups are important from the perspective of the Strategy of KGHM POLSKA MIEDŹ S.A. and the Group’s direct and indirect impacts. The map of key stakeholders of the KGHM Polska Miedź S.A. Group was updated in 2021. They are presented in the table below:

No Stakeholder type Specification
1 Employees, including trade union members Also including former employees.
2 Representatives of local and national government Local governments of the municipalities, in which the company operates; State Treasury.
3 Local community members Social groups that are not non-government organizations, or e.g. social assistance centres.
4 Suppliers Suppliers of the entire value chain, including JV partners in which KGHM holds shares
5 Clients Domestic and international
6 Regulators Including, among others, the European Union, the judiciary
7 Stock exchange environment Shareholders, bondholders, rating agencies.
8 Supervisory authorities E.g. the Polish Financial Supervision Authority (KNF), the Chief Labour Inspectorate (PIP)
9 Stock exchanges in Warsaw and London London Metal Exchange and the Warsaw Stock Exchange.
10 Financial markets Including, among others, banks and insurers
11 Media All types, domestic and international.
12 Competitors Domestic and international.
13 Indigenous people This refers to the KGHM Group, mainly the first nations of the North America.
14 Trade organisations Domestic and international.
15 International organisations E.g. the UN.
16 Academic and research institutions, universities Running their operations in Poland and abroad.
17 Non-governmental organizations Non-governmental organizations (NGOs) with a social and environmental profile.

Materiality analysis

In the process of preparing for the preparation of the 2021 Non-Financial Report, the key stakeholders of KGHM Polska Miedź S.A. were surveyed on sustainable development and corporate responsibility and on their opinion regarding the 2020 Integrated Report of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group and their suggestions concerning the 2021 report.

The issue of materiality was assessed in accordance with the following principles of the Global Reporting Initiative (GRI) Standards: stakeholder inclusiveness, sustainability context and materiality. The fourth GRI principle, i.e. the completeness principle, was addressed by way of validation of the matrix by members of the Company’s senior management.

The process of identifying material topics was based on:

  • the results of the survey carried out by the Company in October 2021 among external stakeholders, i.e. clients, scientific and research institutions, the investor community, suppliers and business partners, local communities, trade organisations, the media and institutions of higher learning from Poland and abroad, i.e. all key stakeholders of KGHM Polska Miedź S.A.;
  • the results of interviews conducted among external stakeholders representing financial institutions, trade organisations, local governments, clients and suppliers
  • a feedback session with Company employees devoted to the evaluation of the 2020 Integrated Report of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group and development of reporting recommendations for 2021 and analysis of the initial materiality matrix,
  • Company’s corporate documents, such as e.g.: the Strategy of KGHM Polska Miedź S.A. for 2019-2023 (the goals in the “People and the Environment” area), Environmental Policy, preliminary assumptions for the Climate Policy being developed at that time, the Code of Ethics of the KGHM Polska Miedź S.A. Group, the Code of Conduct, the Occupational Health and Safety Policy, the Responsible Supply Chain Policy in the KGHM Polska Miedź S.A. Group, the Declaration on human rights protection, Integrated Reports from previous years, financial and non-financial statements,
  • the sustainability issues important for the industry and the overall sustainability trends in business, including S&P Global ESG Scores ratings,
  • UN Sustainable Development Goals for 2015-2030
  • international regulations: EU Guidelines on reporting climate-related information, the TCFD Framework, the EU Taxonomy Regulation,
  • international reporting standards – GRI, SASB

The chart below shows the identified topics that are material for stakeholders and have significant social, environmental and economic impacts:

ESG materiality matrix KGHM Polska Miedź S.A

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