Our Materiality Process

Our goal in this report is to address and disclose our progress in relation to important issues that are important to our business and that our stakeholders care most about. Similar to 2015, we have taken active steps to enhance our materiality process by further bolstering and enhancing our internal and external engagement. In fact, we take pride to be an organisation that engages in open and constructive dialogue with our stakeholders and accord this feedback systematic attention in refining our CSR strategy. This meticulous materiality exercise formed the basis for defining our report content for 2016.

Our materiality process helps us identify issues that matter the most to our business and our stakeholders. Similar to previous years, we have engaged a range of internal and external stakeholders in our materiality process for 2016, capitalising on different tools and communication processes. Both sets of stakeholders are important from the perspective of the Bank, and this feedback has in fact been instrumental in helping us define and refine our CSR strategy and pin down our most salient and material issues for 2016, as well as the relevant aspect boundaries.

The main changes entailed redefining some of the main materiality issues, like adding Infrastructure Investments, Inclusive and Sustainable Industrialisation,
and Innovation under the Economic Development Pillar where recent strategic business developments were implemented Financial Literacy was also identified as material issue and added to our Community Development Pillar. We also added Awareness on Resource Usage within our Environmental Protection Pillar as further efforts in this aspect were implemented.

Other than that, changes to our materiality issues and aspect boundaries from last year were minimal, involving simple regrouping, tinkering and refinement. This allowed us to retain the materiality issues that were considered of medium to high importance to our stakeholders, and of medium to high importance to Bank Audi. We also excluded from the Report those aspects that were considered non-material, given their lower importance and/or inapplicability to Bank Audi’s operating context.

Considering that this reporting is restricted to Bank Audi Lebanon, the materiality process is relevant for all Lebanese subsidiaries, and the scope of the material aspects and their boundaries are focused on Bank Audi Group – Lebanon entity (Bank Audi sal and its Lebanon-based subsidiaries), hence excluding other entities listed in the financial Annual Report.
Figure 3: Process of Defining Material Aspects and Boundaries

Figure 4: Materiality Matrix and Main Issues of Priority Concern for 2016
Table2: Stakeholder Consultation