· Risks and opportunities

  • Conciseness
  • Materiality
  • Stakeholder relationships

Key observations:

Hyundai Engineering & Constructions presents a materiality analysis which presents the materiality process and the steps in this – including a stakeholder engagement survey and the final determination of the key issues in a materiality matrix. Interestingly, Hyundai Engineering & Constructions explains how there is a consistent annual process which is used to determine material issues, which commences with the development of an ‘issue pool’. The issues are determined through analysis of trends, interviews and the review of global standards. In 2012 there were 227 issues. The stakeholder engagement process is then summarised, detailing out the major issues which were identified, clearly showing the importance the company places on stakeholder engagement. The final stage is to determine the key issues from all those identified from the issue pool and the stakeholder survey to create a materiality matrix of 18 key issues, covering a wide range of factors. These factors are plotted against how highly the issues were rated by both external and internal analysis.

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