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Stakeholder Engagement

Good stakeholder engagement can help companies to identify and manage business risks and opportunities. It can expose fresh perspectives to help innovate and to meet changing expectations. It can assist with managing company changes and for tackling immediate and longer-range sustainability challenges. It is also an integral element of meeting new CSRD requirements, particularly as a key component of double materiality assessment. Conversely, bad stakeholder engagement can be reputationally damaging and create ethical and practical problems for business.

A company’s stakeholders can be wide ranging and include staff, customers, investors, suppliers, local communities, government, NGOs, unions, media etc. BITCI works with members to identify and manage stakeholder engagement effectively through:

Creating a strategy around stakeholder engagement.
Advice and guidance on stakeholder identification, mapping and analysis.
Advice on appropriate and effective stakeholder engagement tools and approaches.
Stakeholder engagement as part of double materiality.
Stakeholder engagement for strategy development.
Acting as a trusted third party to conduct interviews, surveys or focus groups with key stakeholders.

Examples or work we have recently delivered include:

Advising a semi-state organisation to ensure stakeholder views informed a new strategy refresh.
Advising a member company on double materiality surveys and stakeholder outreach.
Co-designing and hosting a supplier engagement event on behalf of a member company.
Working with Business Working Responsibly Mark certifying companies to design and document stakeholder mapping and strategic engagement processes.