Our Five Step Stakeholder Engagement Process:
1. Analysis of external and internal perspectives
Identify mega, industry and sustainability trends relevant to Hoist Finance and our stakeholders. The trends may include climate change, societal change (e.g. financial/social exclusion), digitalisation, emerging regulations (e.g. sustainable finance) and other trends affecting Hoist Finance as well as benchmarking with industry peers. We also identify Hoist Finance’s current priorities and future initiatives based on existing sustainability strategy, previous stakeholder dialogues and business strategy.
2. Stakeholder mapping and prioritization
Hoist Finance has many different stakeholders that are important to our business. In order to ensure effective and efficient engagement we take stance from our stakeholder matrix and prioritize select stakeholder groups for the coming year. Based on the prioritized stakeholder groups strategies are created for interaction and engagement.
3. Design process
Define the level of ambition for the engagement to align expectations for all parties and identify issues relevant for chosen stakeholder groups. Identify and choose format for how to approach selected stakeholder groups for most effective engagement.
Stakeholder dialogues are performed with selected stakeholder groups through surveys, interviews or workshops to create an understanding of the stakeholders’ perspective.
5. Review, Report and Act
After reviewing and analyzing the results from the stakeholder dialogues, an action plan is developed with the aim to translate the findings, insights, and agreements from the engagement into action and to communicate these actions to our stakeholders.