We place responsibility in the context of good business management. Our PLC Board approves direction and remains informed with business reviews, progress reports and briefings. Our Operating Executive is responsible for implementing Group strategy and monitoring operational performance.
A formal review of our sustainability strategy and performance is held with both the Operating Executive and the PLC Board, annually. Material risks to the business, including strategic, operational, financial, legal and the most pertinent social and environmental risks, are detailed in our Risk Register.
Further information can be found in our Leadership and Governance Table.
Building and maintaining trust with our stakeholders underpins our business success and reputation. Engagement introduces wider perspectives and enables better decision-making. We primarily use stakeholder feedback to help us understand key priorities and how we can do things better. This ranges from the issues that are most important to the communities in which we operate, to the development of our products and the rewards we give to employees.
Stakeholder engagement is important to us in understanding our material issues. The independent materiality assessments conducted in 2013 and 2016 included identifying economic, social and environmental risks based on the geographical location of our operations as well as the locations of our key strategic suppliers – around 940 locations were assessed.
The top 20 material issues identified were presented to both internal and external stakeholders to determine the relative importance of each issue both to the business and to key external stakeholders. The material issues identified shape how we frame our sustainability strategy, which focuses on reduced harm products, sustainable agricultural practices and a safe working environment for our employees.
Periodically we seek opinions by convening a Stakeholder Panel to appraise our responsible approach and to listen to different viewpoints. Our next stakeholder panel will be convened in 2019 to further validate our sustainability strategy and key areas of focus.
For information on key stakeholder groups and how we engage, please view our Stakeholder Engagement document.