Our materiality process aims to identify those economic, social and environmental matters that present material risks, while simultaneously taking into account our governance, external operating context and those issues of particular concern to stakeholders.
- Review and evaluate our external operating context in terms of political, economic, social, technological, legal and environmental factors
- Research and analysis of media coverage, analyst reports and emerging industry issues
- Benchmarking of peer reporting
- Engage with external stakeholders to understand expectations and needs
- Externally facilitated review process to agree material matters and risks
- Categorise and rank matters by subject and area
4 Respond, monitor, report and integrate
- Once identified and ranked, material matters are reviewed and integrated into our strategic objectives and risk management
- Key performance indicators are developed and applied across the Group and, where appropriate, included in incentive structures
- Performance is assessed on an ongoing basis and, where appropriate, remedial action taken
- Based on analysis and identification, prioritise those matters and risks that could potentially impact value creation over time or that may result in value erosion
- Participants include senior management and those responsible for risk management and governance to ensure an integrated approach and alignment with all areas of the business
A materiality workshop, facilitated by external advisers was held in November 2020. Participants in the workshop represented a number of disciplines across the business, including investor relations, finance, environmental, social (safety and health, human resources, communities) and governance. The workshop was preceded by a review of stakeholder input and our external environment to ensure the outcome of the workshop was balanced and constructive.
Senior executives and functional heads of discipline have a common understanding of AngloGold Ashanti’s material issues and risks, the changing risk landscape and the actions required to improve the sustainability of the business.
The top issues were identified and a decision taken to replace some of the issues for reporting purposes.
Our materiality matrix
2020 MATERIAL ISSUES
- Climate change and energy use
- Tailings management
- Human Rights
- Artisanal and small-scale mining
- Integrated closure (including environmental, economic and social considerations)
- Business sustainability and growth
- Navigating through regulatory and political risks
Material matters, related stakeholders and capitals affected
Employees and unions
Governments and regulators
Industry partners and peers
Social and relationship capital
The material issues most likely to affect our ability to create and preserve value, and to affect value created for stakeholders in the long term, are listed in the table below.
(Ebola, malaria, COVID-19 pandemic)
(including local procurement)
(rehabilitation and biodiversity; legacies)
While these material matters and their relationship to the capitals guide the content of this report, they are discussed more fully in the <SR>.