At Molson Coors we use a combination of qualitative and quantitative research to determine our material issues.
Stakeholder Perspective: Proactive engagement with the Company’s identified stakeholders is central to better understanding the key material issues for the Company. Engagement is systematic and conducted on a regular basis: collaborative engagement, roundtables and regular meetings, desk research, surveys and interviews. Every 3-5 years the Company undertakes an independent Stakeholder Review as a formal assessment of stakeholders’ changing needs and concerns.
Company Perspective: Key internal stakeholders are engaged through the Corporate Responsibility (CR) Council. The CR Council, chaired by the Chief Corporate Responsibility Officer, and sponsored by Chief Supply Chain Officer and Chief Legal & People Officer has accountability for delivering performance in the strategic, operational and commercial areas of the business. The Council meets three times a year and is comprised of senior leaders who each report to a member of the Executive Leadership Team.
Findings from both perspectives are then analyzed to determine the most material opportunities and risks to external stakeholders and the Company over a 3-5 year period. Our most recent Materiality Assessment was carried out in 2014. Using a third party, we surveyed our most important commercial partners (on & off trade customers) in a qualitative stakeholder review. The review involved interviews with key partners to discuss:
- Critical issues for customers and the industry,
- Existing CR partnerships and programs,
- Perceptions of Molson Coors’ CR program; and
- Potential synergies and opportunities for partnership going forward.
17 in depth interviews were carried out with external commercial and CR functions in 12 companies across Europe and North America. Following the external interviews, a discussion guide was developed to explore similar issues from an internal perspective and allow the opportunity for company executives to react to some of the insights gained from the customer interviews. The review identified high, medium and low risk issues that are of importance to our stakeholders and that have the greatest impact on the business in a 3 - 5 year timeframe. The resulting Materiality Matrix identified High, Medium and Low issues.
- HIGH – The issues in the high category are regarded as those that are of greatest importance to our stakeholders and have the largest impact for Molson Coors (3-5 years). We set annual targets in these areas and report against our progress externally and to our leadership and board. The CR Council, which meets 3 times a year, sets the policies and strategies for these areas; we conduct regular stakeholder dialogue and utilize the feedback to set strategies.
- MEDIUM – For our mid-level material issues we have or are in the process of setting annual targets. We report performance internally and externally. The CR Council also has oversight over these issue areas.
- LOW – These are issues that are not aligned with Molson Coors' strategy and whilst we monitor them we don't set annual targets nor report externally against them.
Engaging with stakeholders is essential to building our reputation, developing long-term relationships, helping to understand stakeholder concerns and supporting Molson Coors’ ambition to grow our positive impact through Our Beer Print.
Our stakeholder engagement activity helps us set long term corporate responsibility priorities and targets. Our network is vast, covering all our business groups. It ranges from those that we proactively engage with to those whose public positions help shape our own views and activities. Our stakeholders include (in alphabetical order):
- General Public
- Industry Trade Associations
- Public Health Community
The variety and differing scale of our stakeholders means we engage in a range of different ways depending on the level of interest, the relevance to the business and the most appropriate way to engage the stakeholders’ specific needs.
- Employees – Annual People Survey
- Customers – See 2014 Commercial Stakeholder Review details below
- Internal Commercial Leaders – included within 2014 Commercial Stakeholder Survey
- Molson Coors CR Council – Meetings three times a year
- Other Commercial Stakeholders – Engaged through trade industry groups, regular meetings and process reviews
- Government, NGOs & General Public – engaged at local level on appropriate issues
We conduct a formal stakeholder review every three to five years.
Our commercial partners (i.e. our on-premise and off-premise customers) are one of our most important stakeholder groups, as they understand their own consumer activity and have a clear idea of expectations from a partner like ourselves. With that in mind, we carried out a detailed qualitative stakeholder engagement review in 2014 to explore:
- Issues and expectations of the global brewing industry – now and in the future
- Issues facing customer stakeholders and opportunities for collaboration
- Perceptions of Molson Coors – performance and importance assessment
And use this output to:
- Integrate feedback into business practices to drive performance improvements
- Set long term corporate responsibility priorities and targets
- Enhance the company's reputation for accountability and transparency in corporate responsibility
Please see the independent commentary and recommendation from the review.
The 2014 review found that our current corporate responsibility priorities are closely aligned to stakeholders' views and address the company's material issues. Using the review findings, we have conducted a materiality assessment to identify the issues of greatest importance to our stakeholders and that have the largest impact for the company (3-5 years period). We set annual targets for our priority areas and report against our progress externally and to our leadership and board.
We have identified our top environmental and social issues as:
- Water Risk
- Packaging and Waste
- Energy and Carbon
- Alcohol Responsibility
- Responsible Sourcing
- Employee Engagement and Well-Being
We explain why these issues are material for us in Top Material Issues.