Materiality and our response to stakeholders' interests
Barloworld has a robust, systematic and structured strategic planning process through which the key determinants of value creation are identified, prioritised and targets set against them. These key determinants are the strategic focus areas (SFAs) that have a material impact on value creation for each of our identified stakeholder groups. The SFAs therefore form the overarching strategic framework and context for the material themes that are expanded on in the report and our GRI G4 responses. The Barloworld approach to determining and prioritising the report content is an ongoing process throughout the year that considers internal and external factors which have and/or could have a substantive impact on the organisation’s value creation activities and interactions.
The Barloworld Worldwide Code of Conduct sets out the group’s five core values. It determines how our aspirations and values are translated into actions and behaviours. Our Code of Conduct reminds us of the standards to which all employees are accountable, and consequently it also informs the group of what is regarded as material.
Our strategic framework including the SFAs is replicated in all divisions and functions to ensure alignment across the group. Therefore there is some commonality in the material themes that form the report content, as well as variations unique to individual businesses based on specific industry, geographic, operational and general business factors. The material themes are unchanged from the previous year.