Sustainability Materiality Approach

Challenge the practice is addressing: According to the definition given by the GRI Standards, a "material subject" is one that represents the Company's major economic, environmental, and social consequences or one that has the potential to materially affect the opinions and choices of all stakeholders. Eldorado's comprehension of material concerns is shaped by the externally oriented notion of materiality provided by the GRI Standards. To choose the subjects that will be covered in their yearly sustainability report, they perform materiality evaluations on a rolling three-year basis.

Concrete practice to achieve the expected goal: Eldorados sustainability materiality process includes the following 6 steps: 1. Preliminary Desktop Assessment, 2. Designing the Maternity Assessment, 3. Conducting Business Impact Assessments, 4. Determining External Impacts, 5. Compiling Results and Creating a Matrix, 6. Validating and Reporting Results.

Expected impact/goal of the practice: The goal is to identify sustainability-related issues which have an impact on society, the environment and economies.

Who is the target user group of the practice/intervention or implementing the practice/intervention? This practice is relevant for companies in the extractive industry.