INDICATOR: 11.15.3
Operations with significant actual or potential negative impacts on local communities
HELLENiQ ENERGY aims to operate in a socially acceptable manner, upholding its relations with stakeholders, based on continuous and transparent participation in dialogue, with the aim of achieving mutual benefits that will contribute to the sustainable development of local communities at social and environmental level.
In December 2023, the Group implemented a Double Materiality Analysis in order to identify and assess both positive and negative impacts, as well as risks and opportunities, which either already exist (actual) or are considered likely to arise (potential), based on the nature of activities, business relationships, geographical areas or other relevant factors, and according to its value chain (Tier 1 supplier/partner analysis).
Looking at the results of the current analysis, we see priority being given to critical environmental issues such as climate change and renewable energy sources, sustainable products and the use of new technologies, as well as social issues such as health and safety, human rights, customer relations and labour rights. Finally, priority is given to governance issues such as ethics and integrity, legislative compliance, sustainable procurement and digital transformation.
It is worth noting that all our facilities conduct environmental impact assessments, where risks to the local community are first identified and assessed, and then monitored and managed during operation of the facilities. Significant impacts may occur at the following stages: at the start of a new activity, during operation or during decommissioning. Based on the Group’s current strategy, only the second stage (operation) is considered significant for the next 5 years.
Information on the management and use of natural resources is regularly disclosed on our website and meets all regulatory requirements following third-party verification and certification procedures. In addition, there is a grievance mechanism for any stakeholder – employee, supplier, customer, local community resident, etc. – to address any incidents of negative impacts from our operations.
Through the relevant procedure, the Group is committed to investigate, verify and remedy any complaint of negative impact reported either through direct grievance, the media or other means. Our proactive response and engagement of stakeholders in local communities directly or indirectly affected by our operations not only impacts the sustainable development goals of local communities, but also ensures that we maintain our social license to operate.
A key requirement for maintaining relationships with the local community in which we operate is first and foremost to identify all internal and external stakeholders and not only those who can be socially impacted by our activities, but also those who can benefit from our corporate responsibility programs, which are aligned to help minimise negative social or environmental impacts and create value in line with the needs of the local community.
The environmental management of impacts and risks related to the operation of our facilities is presented in detail in Chapter “Climate Change – Mitigation and Adaptation”: emissions, climate change, air quality, use of natural resources, education, investments, protection of biodiversity, impacts on health and safety (Chapter “Health and Safety”) and on local communities (Chapter “Value Creation – Value Creation in Society through Corporate Responsibility Actions”).