Stakeholder engagement

Issuers are encouraged to engage their stakeholders proactively in order to stay ahead and better prepare themselves to deal with the risks or threats that various ESG issues could bring about. The ESG Reporting Guide requires a description of significant stakeholders identified, and the process and results of the issuer’s stakeholder engagement. As different stakeholder groups have different interests and perspectives, it is a good practice to disclose the key concerns together with the issuer’s responses according to stakeholder groups. Feedback from stakeholder engagement is not confined only to ESG issues, as the exercise may cover aspects relating to the company’s business and operation.

Stakeholder engagement:

Commentary

SMIC (00981), CSR Report 2020 (p.30)
SMIC CSR report 2020

Commentary

The report included a table on the stakeholders identified and how they were engaged.

Apart from setting out the channels and activities of stakeholder engagement, it also described the major concerns for each category of stakeholders.

Certain engagement activities were held quarterly, enabling the issuer to have more timely feedbacks from stakeholders.

Stakeholder engagement:

Commentary

CLP (00002), Sustainability Report 2020 (p.161-162)
CLP's Stakeholder Engagement Framework provides open and transparent channels for stakeholder input, and a review and consideration process where concerns about CLP's business are responded to in a timely manner. It includes the following steps:

Aligning engagement objectives with business objectives
Mapping issues and concerns
Identifying relevant stakeholders
Developing a communications and engagement plan
Conducting the engagement activities
Capturing feedback and reporting on outcomes

China Mobile Sustainability Report 2020_5

(The issuer provided a table for the engagement result of each type of stakeholder. Two of them are shown below)
CLP Sustainability Report 2020_6

Commentary

The issuer provided a solid framework and steps on how its stakeholder engagement was conducted.

Key stakeholder groups were identified and prioritised based on how they will be impacted, and their influence on the success of the business. Different engagement channels were set up for each type of stakeholders, enabling more effective and timely communication.

The engagement results were well summarized in table format with clear cross-references to the relevant sections of the sustainability report, which outlined the issuer's responses and mitigation measures taken to address stakeholders' concerns.

Stakeholder engagement:

Commentary

Standard Chartered PLC (02888), Annual Report 2020 (p.55)
Standard Chartereds 2020 annual report

Commentary

The issuer included a detailed discussion of stakeholder engagement in its report. This covered how the issuer engaged them, including employees, to understand their interests, and how the issuer responded to stakeholder interests through sustainable and responsible business. The board spent significant time considering and interacting with its key stakeholders to better understand their views and perspectives. There was also information on how stakeholders’ interests were considered in reaching important corporate decision.