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
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
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