EDP's objectives are to build and strengthen relationships of trust, to share knowledge and relevant information, to anticipate challenges and identify new opportunities for cooperation with our Stakeholders.
When creating a Stakeholder Relations Policy, the EDP Group is also adopting a value creation approach for the various Stakeholders of the geographical areas in which it operates.
We seek to achieve this through four major Guiding Commitments: Understand, Communicate, Trust and Collaborate. These commitments embody a Policy that seeks to go beyond mere compliance with the formal requirements of the law in order to contribute to effective and genuine involvement of the Group's different Stakeholders. 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 in Portugal and in the other geographical areas, and with the various Corporate Centre departments, to enhance the effectiveness of the strategic relationship with the Company's Stakeholders.
We dynamically and routinely identify the Stakeholders that influence and are influenced by the Company and analyse and seek to understand their expectations and interests in the decisions that affect them directly.
We are committed to Promoting two-way dialogue with Stakeholders, through information and consultation.
We listen, inform and respond to Stakeholders in a consistent, clear, rigorous and transparent manner in order to build close, strong and durable relationships.
We believe that the promotion of a climate of trust with our Stakeholders is crucial for establishing stable long-term relationships.
Our relationship with Stakeholders is based on values such as transparency, integrity and mutual respect.
It is our ambition to collaborate with Stakeholders in building strategic partnerships that bring together and share knowledge, skills and tools, to promote the creation of shared value leading to competitive advantage.
- Be accountable to those who are impacted by the organization and those that have an impact on the organization, ensuring that minorities have the same capacity for involvement as other Stakeholders;
- Dynamically and routinely identify Stakeholders that influence and are directly and indirectly influenced by the company and its activities, as well as the issues identified as relevant by the Stakeholders;
- Prioritize, fairly, Stakeholders and the issues raised by them as relevant.
- Guarantee access to information by establishing direct and efficient two-way communication channels, actively providing clear, understandable and accurate information to different Stakeholders;
- Consult and listen, proactively and continuously, to the concerns, interests and expectations of Stakeholders, prepare consultation plans and engagement strategies tailored to the characteristics of different Stakeholders;
- Respond to the relevant issues identified by Stakeholders within a reasonable time, given the characteristics of the Stakeholders involved.
- Establish a transparent relationship with Stakeholders, to ensure that they know and understand the Company's objectives;
- Inform Stakeholders about the economic, environmental and social impacts of the organisation or of a particular project, that might have a significantly impact on them;
- Respect the opinions and rights of Stakeholders, treating them fairly, without discrimination, with respect for diversity and their legal rights;
- Guarantee that engagement actions are based on the values, policies and ethical principles of the EDP Group.
- Integrate the relevant contributions identified by Stakeholders in the company strategy;
- Share knowledge and skills with Stakeholders;
- Work in partnership to build solutions, establishing strategic partnerships that produce positive results for both parties;
- Share the company's performance results as well as the results of the different Stakeholder engagement processes, providing - when appropriate - verified performance information.
Stakeholder categorization model
EDP's Stakeholders are those entities or individuals that influence or are influenced by the activities, products and services of EDP. The EDP Group's Stakeholders are organised into four categories: Democracy, Value Chain, Market and Social and Territorial Context
1. Value Chain: Employees, Unions, Suppliers, Scientific Community, Customers, Consumer Associations and Business Associations.
2. Market: Competition, Financial Entities, Shareholders and Investors.
3. Democracy: Government, Public Bodies, Regulation, Parliament, Political Parties, International Institutions.
4. Social and Territorial Context: NGOs, Local Communities, Local Authorities, Media and Opinion Formers.