INDICATOR: 11.14.5
Significant indirect economic impacts
The energy crisis has highlighted the real value of the social actions of sustainable businesses worldwide. The crisis has “pushed” organizations and companies to implement CSR actions, creating a climate of confidence in the implementation of sustainability practices. Corporate responsibility has emerged as an important element of the business sector’s response to these expectations and demands.
For additional information on our contribution to society, please see Chapter “Value Creation”
- Financial support to improve the quality of life of low-growth areas: See GRI 203-1 for relevant projects.
- Economic impact of improving or deteriorating social or environmental conditions: see Sustainability Report, Chapter “Climate Change – Mitigation and Adaptation” for actions aiming at improving environmental conditions.
- Availability of products and services for those on low incomes: see Sustainability Report, Chapter ‘Value Creation – Value Creation in Society through Corporate Responsibility Actions, for fuel donations and food vouchers.
- Enhancing skills and knowledge amongst a professional community or in a geographical region: see Sustainability Report, Chapter ‘Value Creation – Value Creation in Society through Corporate Responsibility Actions
- Support for jobs in the supply chain or distribution chain: see Sustainability Report, Chapter Value Creation – Value Creation in the Local Community
- Economic impact of change in location of operations or activities: In the process of staff recruitment, at HELPE RSSOPP, there is a procedure in place which is in favor of the permanent residents of the municipalities neighboring our refineries.
- Significance of the impacts in the context of stakeholder priorities: In December 2023, the 6th Materiality Analysis was carried out (see Ch. Sustainable Development – Double Materiality Analysis). Surveys, regular communication and consultations are used to identify investments in infrastructure and other actions to benefit local communities and to understand significant indirect impacts at the local level. The evaluation of the findings has led to the design of relevant actions. It was recorded that local communities expect actions with a focus on supporting the unemployed, providing health services, supporting the elderly and vulnerable groups in general. In addition, the direct and indirect impacts are taken into account in the design of any new investment.