Most simplified, the model to the right demonstrates this process:
1. Analysis of external and internal perspectives
Identify mega, industry, and sustainability trends relevant to Hoist Finance and our stakeholders.
2. Stakeholder mapping and prioritization
Prioritise stakeholder groups for the coming year.
3. Design process
Design the level of ambition for the engagement and identify the most effective approach.
Stakeholder engagement are performed with stakeholders through surveys, interviews or workshops.
5. Review, report and act
Review and analyse results and develop action plan to translate insights to action. Communicate results externally.
Our stakeholder engagement in 2020, based on interviews and surveys, was the basis of our Materiality Matrix, plotting the non-financial areas with largest impact on Hoist Finance business success and importance to external stakeholders. The materiality matrix defines the issues most material to the organization, and thus guides the development of our sustainability strategy, our everyday work, and our reporting. The stakeholder groups involved are customers, clients, investors & analytics and employees and the result of the Materiality Matrix builds on a consolidated review of their collected key topics of interest. The Matrix is presented below.