The materiality assessment process is not an academic exercise, but rather a genuinely valuable participation opportunity. It is considered as a tool to engage people across the Company and external stakeholders alike, reinforcing the link between sustainability and core business operations. This is only one example of how CNH Industrial promotes ongoing communication and active engagement with its stakeholders, as the Company continually and proactively interacts with stakeholders worldwide, through dedicated functions, promoting ongoing dialogue and remaining responsive to their needs. CNH Industrial believes that such exchanges are mutual opportunities for growth and improvement, and that cooperation and trust are built on receptiveness and engagement.
Stakeholders present a wide range of differing interests, so establishing and maintaining stable and lasting relationships is crucial for creating shared value over the long term. Understanding specific requirements and priorities enables CNH Industrial to deal with issues before they become critical, and to fine-tune its responses according to the interests of its stakeholders. The first step toward building effective engagement involves precisely and promptly identifying stakeholders and establishing the most effective communication channels, while continually monitoring expectations, needs, and opinions.
CNH Industrial identified and selected key stakeholders through an internal assessment performed by the Corporate functions managing stakeholder relations on a daily basis. Stakeholders were assessed in terms of importance for the Company and the significance of their respective activities. The table indicates: the functions responsible for ongoing dialogue with the various stakeholders, the engagement tools used, and the main stakeholder expectations. Corporate functions respond to stakeholder expectations through defined channels, translating needs and areas for improvement into Sustainability Plan targets (see also page 27).
DIALOGUE WITH STAKEHOLDERS IN DETAIL
Stakeholders | Corporate functions (a) | Tools and interaction channels | Key topics and concerns |
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Public institutions: government, local authorities, public agencies, regulatory bodies, international institutions, trade associations and non-governmental organizations |
Institutional Relations |
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Environment | Environment, Health and Safety |
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Employees Professional organizations and associations Employees’ families |
Human Resources Environment, Health and Safety |
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Trade unions and employee representatives | Industrial Relations |
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Dealer and service network | Sales Training |
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Customers | Marketing Customer Care Product Development |
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Suppliers and commercial partners | Purchasing |
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Local communities: religious, cultural, socio-political, health systems, schools and universities, non-governmental organizations, non-profit organizations |
Regional dedicated functions |
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Scientific and technological research and universities | Innovation |
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Financial community: traditional and socially responsible investors (SRI) |
Investor Relations Corporate Affairs Sustainability Unit |
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Journalists, media and opinion leaders | Communications |
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(a) The names provided in the index for Corporate functions have, in some cases, been altered to make them more self-explanatory and, therefore, do not necessarily coincide with the official name given to the corresponding activity or area of responsibility.