Neste Oil's materiality matrix covers the company's key sustainability themes from the perspective of its business and stakeholders.
We updated our sustainability materiality matrix during fall 2014 and early 2015. The update was conducted as follows:
In the new materiality assessment, themes related to economic responsibility and material efficiency are given a clearly greater emphasis than in the assessment made in 2012. For material efficiency, the use of waste and residues is considered particularly relevant from the point of view of both the company and stakeholders.
Human rights also are given a greater emphasis than before in the updated assessment. This is due to, for instance, increasing awareness of social viewpoints in addition to environmental issues in the supply chain.
New topics included in the materiality assessment were also smallholders in the supply chain, and publication of tax contribution.
Offering cleaner solutions and products to the clients continues as one of the most important themes of our sustainability work, both from the point of view of our stakeholders and our business.
In February 2015 we arranged a stakeholder event where our chosen stakeholders had the opportunity to give feedback concerning our updated materiality assessment. Stakeholders represented in the event were e.g. NGOs and other organizations, student unions, investors, and owners. According to the discussions economic responsibility is seen as an important aspect of sustainability work also among our stakeholders. The feedback that we received also strengthened our understanding of the importance of social issues in supply chain.
Stakeholders would have given more emphasis to political positioning in climate issues in the materiality assessment. In addition, they would like to see Neste Oil including customer perspective more integrally in the company's way of seeing the value chain. In the future Neste Oil should pay more attention to advising the customers on sustainability issues and providing them information to support sustainable decision-making.
The feedback from stakeholders will be utilized when planning sustainability operations, and during future update of the matrix.