Sustainability report 2019

64 Stakeholder engagement $W $$. ZH KDYH D YLVLRQ WR EH WKH ¿UVW FKRLFH IRU YDOXH adding vegetable oil. Since driving customer value is highly dependent on our stakeholder engagement, we maintain an active dialogue with stakeholders. 0DWHULDOLW\ RXU PRVW VLJQL¿FDQW LPSDFW Every third year, AAK conducts a stakeholder analysis in order to ensure relevance and to stay ahead of the evolving expectations of stakeholders. This process allows us to engage and mobilize important internal VWDNHKROGHUV DQG WR LGHQWLI\ RXU PRVW VLJQL¿FDQW LPSDFWV ERWK SRVLWLYH DQG QHJDWLYH HQVXULQJ D XQL¿HG approach at all levels of the organization. A list of sustainability topics considered most relevant for AAK was drawn up three years ago and during the summer of 2019 relevant internal stakeholders have been engaged to review and update this list of materi- ality topics for AAK. Key stakeholders The determination of which AAK key stakeholders should be engaged in the stakeholder analysis was based on mutual dependency (such as trade organiza- tions), close relationships with the company (employees and company decision makers), an ability to directly LQÀXHQFH WKH FRPSDQ\ DQG LPSRUWDQW UHODWLRQV IRU $$. (customers and investors), an ability to make an impact in our value chain (suppliers of raw materials and pack- aging), and stakeholders important to AAK’s corporate citizenship (municipalities). Transparent dialogue In order to enable a transparent approach, the survey and dialogues were conducted with support from an experienced third party. With the goal of capturing a broad perspective, the stakeholder survey was composed of both quantitative questions and qualitative interviews. The quantitative portion of the survey involved respondents rating the AAK sustainability topics as a YHU\ VSHFL¿F H[HUFLVH XQGHUWDNHQ DV SDUW RI RXU *OREDO Reporting Initiative (GRI) process. The qualitative portion of the survey gave AAK further insight into our stakeholders’ ambitions, including evaluations of AAK’s ongoing sustainability work and suggestions for how we can improve in order to meet expectations in the future. Key topics raised Overall, AAK received very valuable feedback regarding both what we do well and what we can improve. The top three aspects raised by stakeholder groups (consisting of customers, investors and suppliers) were: prevention of deforestation, identifying environmental impact throughout our operations and achieving resource HI¿FLHQF\ The feedback we received from the in-depth inter- views (with both customers and investors) was that we should be more transparent regarding our supply FKDLQV 6SHFL¿FDOO\ UHVSRQGHQWV VXJJHVWHG WKDW ZH should further increase our efforts related to traceability. Management engagement and prioritization $IWHU LGHQWLI\LQJ WKH WRSLFV ZKLFK DUH PRVW VLJQL¿FDQW IRU our stakeholders, AAK engaged the top 100 leaders in the organization in several workshops to discuss how to meet these expectations. The result was presented to the Executive Committee, clustered in categories and aligned with AAK’s sustainability ambitions. Materiality matrix The AAK Materiality matrix represents our list of material topics and is connected to where in the report we describe the management approach. The quantita- WLYH VHFWLRQ RI WKH VXUYH\ ZDV EDVHG RQ VLJQL¿FDQW topics which were initially taken from AAK’s previous materiality assessment. 3KDVH 'H¿QH SXUSRVH and scope 3KDVH Identify potential topics 3KDVH Categorize 3KDVH Prioritize 3KDVH Engage management 3KDVH Seek stakeholder feedback 3KDVH Gather information about the impact and importance of topics The Materiality Process* * KPMG Guide to the materiality process.