By taking into account the interests of our stakeholders, alongside the threats and opportunities that our business faces, materiality assists us in deciding where to concentrate our efforts to increase stakeholder value and our sustainability performance. Materiality also directs us on what we should make public.
In 2019, we conducted a review of materiality considering internal and external stakeholders’ opinions to identify material environmental, social, and governance issues that are most relevant to the organization. To ensure that our business is responding to the most relevant issues, we updated our materiality process in 2022 and will continue to do so in the future. Our approach to materiality is consistent with the GRI Standards.
During the materiality update that concluded in 2022, we reviewed the identified and other relevant material issues to ensure their relevance. The results are presented below. We observed that ‘Nutrition and wellbeing’ has gained importance for our internal stakeholders, likely as the ensuing pandemic highlighted Almarai’s crucial role in food security for our communities. In addition, our external stakeholders put more importance in employee health, safety, talent, and diversity, and on our community investment efforts. In 2022, Almarai continued to monitor the identified material issues, programs, and progress to ensure we remain on-track to deliver on our committed goals.