The materiality assessment of responsibility determines the focus areas of our responsibility program and responsibility work and guides our work and measures. Materiality assessment is continuous. The most relevant subject areas of L&T's responsibility are based on the key effects of our business and the expectations of our stakeholders.
In 2022, we clarified the expectations and views of our key stakeholders, such as personnel, customers and communities, regarding our responsibility work. The starting point for the materiality assessment was the group's most recent extensive materiality assessment, which was carried out in 2018.
During the process, we identified the key responsibility issues for our operations, to which the actual stakeholder dialogue was targeted. Megatrends, several responsibility frameworks, changes in regulation and L&T's strategy influenced the background.
Based on the results of the materiality analysis, we have updated the sustainability program's long-term goals and metrics, taking into account our company's mission "Making the circular economy a reality".
The results of the materiality analysis and the new goals and metrics of the sustainability program have been separately discussed in the group's management team and in the personnel and sustainability committee of the board of directors.
We work to mitigate the effects of climate change and the biodiversity loss. Our aim is to keep the materials in circulation for as long as possible and to bring solutions for the sustainable use of the built environment.
As a large employer, our goal is to offer jobs to everyone, regardless of nationality, culture or educational background. We treat each other and our suppliers fairly.
We operate correctly and transparently throughout our value chain. Our goal is to ensure that no serious damage or violations occur in the company's operations and that our operations comply with laws and regulations.
The priorities of our sustainability program are the environment, people and givernance, for which both short- and long-term measurable and monitored goals have been set.
To ensure the responsibility of our operations, we have defined the principles of responsible business practices, which also apply to our contract suppliers.