MATERIALITY ASSESSMENT

In the context of continuously improving performance and optimizing its strategy, HELLENIC PETROLEUM Group carried out an analysis on the materiality of the sustainable development topics related to its activities with the participation of both internal and external stakeholders.
The analysis was performed according to the GRI Standards and was based on the following three phases:

Phase 1: Recognition
The Group, recognizing the GRI Principles of Stakeholder Involvement and the Sustainability Framework, identified 26 sustainable development topics related to its activities. Indicatively, these topics emerged through review procedures of the following:

GRI standards and the special GRI edition for the petroleum industry
Internationally recognized SASB standards
Sustainable Development Reports by similar companies
Publications for the year 2017 related to the HELLENIC PETROLEUM Group
Principles of the United Nations Global Compact
United Nations Global Sustainable Development Goals (SDGs)
Group’s Sustainable Development Report for the year 2016
Consultations with senior executives of the Group

Phase 2: Hierarchy

Based on the GRI Standards’ principles regarding Materiality and Participation, the Group ranked the 26 sustainable development topics identified in the first phase, by assessing the following:

The importance of the economic, social and environmental impacts of recognized topics
The importance of the impacts of the recognized topics on the Group's ability to achieve its objectives
The importance of recognized topics for stakeholders

In order to assess the relevance of the identified topics for stakeholders (Axis Y), the following were carried out:

Three focus groups in Athens, Thessaloniki and Elefsina,
Ten interviews with selected representatives of the employees of the Group and representatives from the Local Authorities in the local communities in which the Group operates,
as well as an electronic survey with a response rate of 37.1%.

In addition, a separate electronic survey was carried out involving senior HELLENIC PETROLEUM Group executives, with a response rate of 67,8%.

Phase 3: Validation
With the completion of Stage 2, and taking into account the GRI Principles concerning stakeholders’ Compliance and Participation, the hierarchy results were endorsed by the Group’s Management and were mapped (a combination of the Y & X Axis on the Materiality Matrix) re. the Group’s key sustainable development topics in 2017.

Graphical presentation of the Material Topics (Materiality Matrix)