A key criterion that Metlen uses for the disclosure of ESG information, is the identification of topics that are relevant to its capacity to create value and that are of material significance to the organization itself, to its Stakeholders and, more broadly, to Sustainable Development.
The Materiality process is a key tool for the responsible operation of Metlen and contributes to the enrichment and formulation of its Sustainable Development strategy. It is a dynamic practice that is constantly evolving. The internal evaluation and prioritization of the material ESG topics is conducted both at a central and at a Business Unit level. In parallel, the Company, through an open dialogue with its social partners, feeds this process with new data annually. The evaluation cycle of the material topics is implemented every 2 years with a mid-term review.
During the 2023 materiality process, the Company utilized the list of identified sustainable development issues that had been created in 2022. These issues were subsequently prioritized by the two (2 main) Lines of Business Activity, in terms of the extent to which they affect the ability of The Company fulfills its business objectives, as far as the importance of the effects that each topic represents in sustainable development. The results of this internal process were combined with the corresponding findings of relevant field research conducted in 2022, on individuals and organizations from all of the Company's social partner groups, to assess how important each issue is, taking into account the effects. (existing and potential, negative and positive) it has on the economy, society, environment and human rights.
Material topics are those with a value above the Average score in the internal (> 8.9) and external (> 8.3) ranking on a scale from 1 (not at all important) to 10 (very important).