The model for managing and monitoring stakeholder engagement activities

With the goal of obtaining an increasingly clearer picture of the risks and opportunities inherent in the commitments made by the Bank towards their stakeholders, a management model was designed to monitor the entire engagement process: stakeholder mapping, assessments of the quality of the engagement initiatives, the proposals and criticisms that have come to light, the improvement plan arising from the balance between corporate strategies and the opinions of different stakeholders.

Stakeholders mapThe model was built on the AA1000APS principles and this led us to partially revise our stakeholders map, especially for some sub-categories, so as to make it more consistent with our every day relations and align it with the values and principles of relationships expressed in the Code of Ethics. We also reviewed strategic issues which arose from previous stakeholder engagement activities and the 2008 Multistakeholder Forum on which the Group has decided to concentrate its efforts over the coming three years.

All engagement activities and the requests that emerged during stakeholder engagement initiatives have been set up within a computer dashboard that allows us to:

  • Satisfy the principle of inclusion since we can monitor all initiatives and can plan listening and dialogue initiatives with all stakeholders on all issues that are of interest to them;
  • Check the materiality of topics covered as perceived by the stakeholders involved;
  • Evaluate the Bank’s responsiveness in relation to the issues that stakeholders perceive as priorities, both in terms of perception and as regards projects and initiatives which have been implemented.

The result of these activities is the definition of the improvement objective plan, which is presented in Chapter four of the Social Report. The dashboard results have allowed us to formulate a more objective plan for our corporate strategy and meet our stakeholders’ requests.
To ensure that our Social Report increasingly meets the needs of information for our stakeholders, in this year’s Report, we have decided to make each Chapter adhere to the principle of materiality that each theme holds as perceived by the stakeholder involved. For our employees and customers – on whom involvement was more focused over the past three years – we have included a chart (see page 58 and page 94), illustrating the level of materiality as perceived by our stakeholders on the issues raised. This representation guided us in the layout of the chapters, with the aim of giving greater coverage to those topics that were of greatest interest to the stakeholders involved in active listening and dialogue.