Stakeholders
EDP's Stakeholders are entities or individuals that influence or are influenced by our activities, products and services. Our Stakeholders are organised, into four categories, according to their characteristics and interests.
Stakeholder categorization model
Following this model, these are our stakeholders
The management of Stakeholders is a demanding exercise for it obliges companies to communicate with great transparency, throughout its steady relationship with society and, in particular, with the entities that affect or are affected by its operations.
To listen, understand and work with our Stakeholders through a dynamic process that creates shared value allows us to anticipate challenges, minimize business risks and create new relationship opportunities.
The involvement of Stakeholders in governance models is therefore more than an example of good business practice: it is a competitive lever with a positive impact on the EDP group’s performance.
To contribute to the effective and genuine involvement of the EDP group Stakeholders in all countries, surpassing simple compliance with the formal requirements of the law, is the mission of the Stakeholders Management of EDP group, whose goals are:
- To dynamically and systematically identify the Stakeholders that influence and are influenced by the activities of EDP group;
- To be familiar with the perceptions EDP group Stakeholders have of the company and what issues they consider relevant in to interaction with the organization;
- To strengthen the relationship of trust, transparency and proximity to all EDP Stakeholders;
- To integrate Stakeholders’ expectations with the management of the EDP group;
- To identify emerging risks and opportunities in the relationship with the Stakeholders;
- To identify, explore and develop new opportunities to create value either through dialogue with the various areas and business units of the EDP group, or through the promotion of many-leveled projects with the Stakeholders;
- To turn the Stakeholder management into a tangible exercise with a positive impact in the company.
The Stakeholder methodology of the EDP group is based on its relationship policies and procedures and is divided into four stages of operation:
Content card grid
Inside view
Identification of relevant topics.
External view
Identification of risks and opportunities.
Content card grid
Action plan
Identification of risks and opportunities.
Monitoring and reporting
Identification of good practices and lessons learned;
Production of information required with respect to the results achieved and the annual publication of a Stakeholder report.
Companies card grid
Building a relationship of trust with our stakeholders is indispensable for us. That is why we have four guiding commitments to help us strengthen it:
All teams representing EDP, whether employees or suppliers must acknowledge that their behaviour has to be aligned with the ESG commitments the Group has taken.
Strategic guidelines contained in this Policy will make it possible to interact, engage and collaborate with local Stakeholders, ensuring that EDP’s internal channels reinforce communication and gather all information needed for a more appropriate evolution of the local engagement practices.
Periodic monitoring will be carried out, ensuring risk prevention and greater learning, from a global perspective under Community Rights respect.
Local Stakeholder engagement is key to EDP’s success and plays a crucial role in implementing the Group’s policies, as well as ensuring a social license to operate, being a valuable tool throughout their lifecycle (concept, planning and licensing construction, operation and decommissioning, and asset rotation).
EDP's main goal in the local engagement of its Stakeholders is to ensure the full Human Rights and Environmental legislation respect, under the terms set out in the EDP Group's current internal regulations.
Local Stakeholder Engagement Policy
Our objectives are to build and strengthen relationships of trust, to share knowledge and relevant information, to anticipate challenges and to identify new opportunities for cooperation with our Stakeholders.
Stakeholder relationship policy
When creating a Stakeholder Relations Policy, we are also adopting a value creation approach for the various Stakeholders of the geographical areas in which we operate.
We seek to achieve this through four major Guiding Commitments:
Understand
Communicate
Trust
Collaborate
In order to support the implementation of this relationship policy, the Department of Institutional and Stakeholder Relations was established in April 2012, to act jointly and in coordination with the various business units and platforms in the 4 regions where EDP operates., to enhance the effectiveness of the strategic relationship with the company's Stakeholders.