Materiality
In 2019, a new cycle of the materiality process was carried out.
This new cycle was based on the premise of obtaining a strategic and globalized vision of the company so that a highly qualitative and robust view of this process would reflect in the company’s planning and reporting.
Internal Consultation
The internal consultation involved our global senior management. The consultation was carried out through:
- Direction: CEO and all members of the Executive Board and other Directors appointed pursuant to the bylaws.
- Board of Directors: Two board members, one independent.
- Managing Directors: Six, representing the countries in which we have the greatest socio-environmental and economic impact, namely: Brazil, USA, China, South Africa, Mexico and Germany.
Consultation with Stakeholders:
The consultation sought to understand the perspectives and perceptions of the main stakeholders from different countries, which is an essential part of the process to identify our material issues. The stakeholders consulted were:
- Employees: From the six countries in which WEG has the greatest socioenvironmental and economic impact (Brazil, USA, China, South Africa, Mexico and Germany).
They were indicated by the respective Managing Directors of each country.
- Investors: 10 global investors.
- Customers: 10 global customers.
- Suppliers: 10 global suppliers.
- Local community and organized civil society: Five social entities.
- Trade associations: Five trade associations.
Form of Consultation:
The consultation process was online.
Result:
To apply the consultation, 18 topics relevant in the context of sustainability were identified. Within this scope and opening the possibility of including new topics, we carried out an internal consultation and with the main stakeholders.
The result sought to extract the aspects with capacity and potential to affect our value generation, impacting our strategy, governance and performance. And it will be used as an important source for planning and aligning our report with our stakeholders’ expectations and demands.
The consultation process classified the following aspects:
