We recognize that our activities - and the way we carry them out - impact not only our business performance but also our stakeholders. In order to remain successful long term, we need to create value for our shareholders and the society more broadly. This is why we need a clear understanding of the Corporate Responsibility issues that matter to our stakeholders and their expectations and requirements. We need to know their views on the economic, ethical, social, environmental and governance issues affecting Corinth Pipeworks and understand how we can best address their concerns. A materiality analysis helps identify Corporate Responsibility topics that affect our stakeholders and are particularly relevant for Corinth Pieworks and our business today and in the future.
Corinth Pipeworks conducts materiality workshops on an annual basis so as to update the list of important issues that concern of all our stakeholders. Materiality analysis was based on the guidelines of the Global Reporting Ιnitiative GRi-G3.1 and AA 1000 Standard of the international organisation AccountAbility. During the implementation of the evaluation process, we considered as significant issues the ones that could cause large scale changes to the performance of Corinth Pipeworks.
Updating material issues has facilitated the development of the material issue chart of Corinth Pipewoks. Material issues are displayed per axis of Corporate Responsibility, including the pressure of stakeholders as well as the impact on the Company's operations. The significance of every issue is illustrated in grey colour and the intensity increases from the centre outwards.