By considering the interests of our stakeholders, as well as the risks and opportunities existing in our operations, materiality helps us determine where to focus our efforts to enhance stakeholder value and improve our sustainability performance. Additionally, materiality guides us in determining what information should be disclosed publicly.
In 2019, we conducted a review of materiality considering internal and external stakeholders’ opinions to identify material environmental, social, and governance issues that are most relevant to the organization. To ensure that our business is responding to the most relevant issues, we updated our materiality process in 2023 and will continue to do so in the future. Our approach to materiality is consistent with the GRI Standards.
In the materiality update concluded in 2023, we assessed the identified and other important material concerns to confirm their significance. The findings are outlined below. We noted that 'Nutrition and wellbeing' has become increasingly important for our internal stakeholders, likely due to the pandemic underscoring Almarai's vital role in ensuring food security for our communities. Furthermore, our external stakeholders emphasized the importance of employee health, safety, talent, diversity, and our community investment endeavors. Throughout 2023, Almarai continued to monitor the identified material concerns, initiatives, and progress to ensure alignment with our established objectives.
