Stakeholder Engagement and Materiality Assessment
Stakeholder Engagement At Energia Group
Stakeholder engagement and collaboration underpins our ongoing climate action and sustainability activities and ambitions. Focused on the impact of our activities, products and services, we engage with a broad range of internal and external stakeholders on an ongoing basis. These stakeholders include employees, commercial and residential customers, communities, regulators, industry groups, investors, NGOs, academia, rating agencies, and other organisations. This overall process and the views of our stakeholders are a core part of the development and implementation of our ESG Strategy. In FY26, we engaged with a representative group of external stakeholders in the form of a survey to ensure that their view of our most material sustainability issues as a company aligned with our internal view and to garner additional feedback where necessary.
Materiality Assessment
To ensure that our sustainability efforts and investments meet the needs of our stakeholders, materiality assessment is a core part of our ESG strategic and programme planning activities. Through extensive engagement, the following ESG issues were identified as relevant to our operations:
- Health and Safety
- Decarbonising the Energy System
- Security of Supply
- Regulatory Responsibility
- Onshore Wind Farm Development
- Cyber Security
- Affordable and Green Energy
- Offshore Wind Farm Development
- Community Engagement
- Community Liaison
Double Materiality Assessment (DMA)
In the previous financial year, we developed our approach to materiality assessment further by conducting our first DMA. Following a desktop research and sector review, we compiled a longlist of actual and potential Impacts, Risks and Opportunities (IROs) related to sustainability topics relevant to Energia Group’s value chain. We then held workshops with key internal stakeholders across Renewables, Flexible Generation, Customer Solutions and Energia Group to discuss and score the IROs associated with these topics. The IROs were scored from an impact materiality and financial materiality perspective against the most relevant time horizon. All of the impacts were scored based on the severity of the impact and the likelihood of the impact arising, and risks and opportunities were scored on their magnitude and likelihood following the European Financial Reporting Advisory Group (EFRAG)'s guidance at the time. Throughout FY26 and continuing into FY27, our DMA is being refreshed through the lens of the updated draft European Sustainability Reporting Standards and is being utilised to bring commercial focus to our most material sustainability issues.
