Sustainability is a multi-faceted concept, more than any company can tackle in one go. A clear vision and strategy guides us in maintaining our leading position among Belgian companies in terms of sustainability.
We have made the conscious decision to focus our efforts on the most relevant issues: the materialities. We determine the importance of the various material matters in close consultation and dialogue with our stakeholders. The result is a schematic representation of the sustainability priorities and their relative importance: the materiality matrix.
In spring 2021, the prioritization of our material issues has been updated to reflect the latest societal trends and market developments following the COVID-19 pandemic.
Selecting the 20 most relevant topics in the telecommunications and media industry.
Talking with stakeholders to gauge their interest in the 20 most important questions.
Determining the (potential) impact of the 20 most important questions on Telenet's operating success.
New materiality matrix
Our sustainability strategy 2017-2020 underscores our commitment to our key stakeholders and reflects their interests as defined by the materialities. Per commitment, we have defined a set of measurable targets to be reached by 2020.
In spring 2021 we have defined a new five years sustainability strategy that reflects our purpose and brand promise to provide technology for human progress to consumers, businesses and society.
At Telenet, each department is responsible for developing structured stakeholder relationships. At the corporate level, we maintain dialogues with the following stakeholder groups:
Successful integration and effective management of sustainability requires a committed leadership and clear sustainability governance principles, underpinned by clear direction and decision-making processes. We apply the following governance principles:
Manage Environment, Social and Governance (ESG) criteria as a risk
Anchor sustainability in our business practices and include ESG targets in executive remuneration and incentive plans
Sharpen the roles and responsibilities of the sustainability bodies:
•The board of directors provides strategic direction
•The senior leadership team provides management guidance and monitors progress on the sustainability agenda
•A dedicated Sustainability Expert team oversees the day-to-day operations and program implementation
Disclose our sustainability performance through non-financial reporting and participation in third-party assessments
We apply the United Nations Global Compact principles and the UN Sustainable Development Goals to guide our strategy and our corporate culture, and to drive our daily operations in a sustainable manner.
In 2011, we formalized our commitment to these 10 principles with regard to human rights, the environment, and anti-corruption.
In 2015, we embraced the UN Sustainable Development Goals, 17 internationally agreed targets for the development of a more sustainable society and economy.
The annual sustainability report offers an excellent opportunity to reflect on our corporate responsibility achievements and to engage with our stakeholders on the future of our company.