The relationships of CEZ Group with its stakeholders are governed by the Community Relations Policy. The policy covers all business activities to ensure a proper stakeholder engagement. CEZ Group wants to maintain long-term, stable, and strong stakeholder relationships built on trust, recognition of commitments and legitimate interests, and open communication.
The Community Relations Policy also outlines seven principles of stakeholder engagement:
We act responsibly and build relationships based on ethics, integrity, sustainable development, and respect for human rights and communities affected by CEZ Group's business activities.
We act transparently in our relationships and financial and non-financial communications, sharing truthful, relevant, complete, transparent, and useful information.
We train our employees to listen actively, promote two-way and effective communication, and engage in direct, smooth, constructive, diverse, inclusive, and cross-cultural dialogue.
Participation and engagement
We encourage stakeholder participation and engagement in all CEZ Group business activities, supporting voluntary consultation processes or similar avenues of information exchange, particularly in the planning, construction, operation, and decommissioning of CEZ Group power projects.
We strive to reach consensus with stakeholders, especially local communities and populations, considering their views and expectations.
We encourage cooperation with stakeholders to contribute to the CEZ Group's goals and values and to the achievement of the Sustainable Development Goals.
We continuously strive for improvement and regularly review our stakeholder engagement mechanisms to ensure that we respond to stakeholders' needs most effectively.
We communicate with our stakeholders regularly. The objective of the open dialog is to establish their perception of the sustainability strategy and their opinion on the future direction of CEZ Group in relation to sustainability. The respective results shall be used in updating plans and strategies.
International Standard AA1000
In 2019, a survey of material topics for CEZ Group’s stakeholders was conducted according to the international standard AA1000 SES (Stakeholder Engagement Standard), which is designed for companies so that an objective dialog and specific results can be assured.
Relevance matrix of topics for stakeholders and how it will develop over 3–5 years. For the stakeholder dialog purposes, stakeholders have been divided into two main groups.
- Top and middle management of CEZ Group and subsidiaries
- Supervisory board
- Certification bodies
- Educational institutions and research facilities
- Insurance companies and banks
- Local governments, local communities, and the public
- Nonprofit organizations
- Professional unions and associations
- Public and regulatory authorities
- Shareholders and investors
- Suppliers and contractors
- Trade unions
As a result of the survey, a materiality matrix was constructed, which showed the crucial topics and areas of interest of CEZ Group’s stakeholders. These are primarily focused on the environmental and social areas, indicating the current and future relevance of environmental protection, emissions (decarbonization), and safe operation and facilities. In the social area, two topics are significant: CEZ Group as a responsible employer and CEZ Group’s collaboration with local communities.