Each of the Group’s stakeholder groups has different expectations and requirements with respect to the Group, and also impacts its operations in a different way. Also, with respect to each of them TAURON has for many years been pursuing a policy of social responsibility, both at the level of the entire Group as well as that of the individual subsidiaries. All these activities are aimed at building the so-called sustainable (balanced) value by combining the shareholder value with the value for the other stakeholders.
Partnership relations, based on mutual understanding and trust, are of key importance for TAURON Capital Group, as an organization exerting a significant impact on its environment, due to the scale of its operations, turnover volume and profile, as well as having full awareness of it and taking full responsibility for it. Therefore, the cooperation with the stakeholders constitutes the foundation for the Group to achieve success in both business operations as well as social activities. For this reason, TAURON is, in a partnership like, fully transparent manner, developing relations with the stakeholders, being aware of their importance for the long-term strategy and the sustainable (balanced) approach to the business operations. The basis of this process is a dialogue aimed at getting to know the mutual expectations and possibilities as well as implementing the agreements reached.
With the above purpose as the starting point, the process of identifying and mapping TAURON Capital Group’s stakeholders was carried out in December 2019 in cooperation with the experts from the AGH University of Science and Technology and the Institute of Accounting and Taxes. It was considered as the initial and basic stage of developing functionalities related to sustainable development as well as the basis for conducting a comprehensive materiality analysis for the purpose of this Report. Johnson & Scholes methodology was used as part of this step.
Based on that, the following groups of TAURON Capital Group’s stakeholders were identified:
- local communities,
- public administration,
- investors, shareholders, analysts,
- industry organizations
- local government,
- banks, capital providers,
The second stage of the stakeholder mapping process, carried out in accordance with the Johnson & Scholes methodology, involved an assessment of the degree of interest – orientation of the stakeholders towards the organization and the degree of the organization’s interest – orientation towards the stakeholders, as well as the degree of the impact of the stakeholders on the organization and the degree of the organization’s impact on the stakeholders. This way, TAURON Capital Group’s internal determinants related to the relations with the stakeholders (the organization’s interest in the stakeholders and the impact of the stakeholders on the organization and the impact of the organization on the stakeholders) and the external determinants related to these relations (level and type of the interest of the stakeholders in TAURON Group) were analyzed. The obtained results confirmed the existence of the above identified groups of TAURON Capital Group’s stakeholders. As it turned out that, among the responses to the Group’s posts or messages, no stakeholders outside the previously identified groups had been found.
Completing the above activities allowed for preparing the final map of TAURON Capital Group’s stakeholders. Johnson & Scholes stakeholder matrix was created this way.
Johnson & Scholes matrix illustrating the map of TAURON Capital Group’s stakeholders in 2019
When conducting the mapping process at the end of 2019, it was concluded that the map of stakeholders presented in the above graph is also valid for 2020.