Stakeholder Engagement & Materiality
Stakeholder Engagement & Materiality
Greif continues to make progress in advancing our sustainability strategy, and we recognize that our approach is continuously evolving. Since we published our first report in 2009, our commitment to embracing change and maturing our approach to sustainability has been key to our company’s success and performance. In 2023, we enhanced the sustainability programs that make our company efficient, improved the management of our material topics and engaged internal and external stakeholders on sustainability. Our 2023 GRI-aligned report showcases our accomplishments and progress on our long-term sustainability goals.
Value Chain
Greif’s value chain consists of raw material suppliers, transportation and distribution partners, customers, life cycle services and external stakeholders that influence our activities.
Materiality Assessment Process
Our most recent materiality assessment was conducted in late 2020. The process identified and prioritized sustainability topics, engaged key stakeholders and informed our sustainability strategies, reporting and communications. The assessment was led by a third party and conducted in accordance with best practices for material topic identification and stakeholder engagement. We identified potential material topics for our business using various sources, including internal documents, industry sources, peer sustainability reports and sustainability thought leadership. Interviews and surveys with Greif leadership and external stakeholders were conducted, which informed the prioritization of our most material topics.
We prioritized 17 material issues based on their importance to internal and external stakeholders. The assessment’s findings were integrated into our sustainability strategy and emphasized the importance of climate, circularity and diversity, equity and inclusion. The results were validated with Greif’s leadership in a third party-led workshop.
We continue to advance our sustainability efforts with best practices, and in FY23 we initiated a double materiality assessment to update our material topics and understand the impacts of our material topics on our business and Greif’s impacts on the environment and society. The results of our double materiality assessment will be published in our 2024 Sustainability Report.
Material Topics
Our materiality assessment process validated key topics that shape our sustainability strategies, targets and reporting. These topics, outlined below, are highlighted throughout our report. This report speaks to the priorities of various stakeholder groups; details our goals, management approach and performance across our material topics; and demonstrates our ongoing commitment to realize strategic opportunities for our company, while also creating a positive impact.
| Material Topic | Boundary | Stakeholders Engaged, Types of Stakeholder Engagement & Concerns Raised | ||||
|---|---|---|---|---|---|---|
| Greif’s Board of Directors & Leaders | Customers | Investors | Society/Community | Environment | ||
| Types of Engagement | Daily interactions, impact mapping interviews, materiality assessment survey, quarterly updates on sustainabiltiy | Daily interactions, bi-annual satisfaction surveys, materiality assessment interviews | Daily interactions, investor day events, materiality assessment interviews | Community engagement (face-to-face meetings, interviews, survey), community service events | Greif LCA, interviews with sustainability experts (e.g., WBCSD) | |
| Delivering Superior Customer Experience | ||||||
Product Quality Producing products that maintain high performance and value through superior design and manufacturing across facilities, driving customer satisfaction and averting throw-away dynamics. | All internal operations; during use |  |  | |||
Customer Service Excellence Creating effective policies, systems, best practices and incentives that drive the highest level of customer service; taking into account customer feedback regularly and having systems in place to address their needs; outperforming competitors. | All internal operations; all customers |  |  |  | ||
| Reducing Our Footprint | ||||||
Environmental Management Systems Utilizing a comprehensive environmental management system with dedicated environmental management resources (i.e. personnel, budget, etc.), an environmental policy, certifications (e.g., ISO 14001) and compliance. | All internal operations |  |  |  |  | |
| Climate Strategy Creating a climate strategy to address risks, opportunities and impacts such as changes in energy and emissions regulation (carbon taxes, efficiency regulations, etc.), increasing operational costs, renewable energy, natural disaster preparedness and social impacts; managing and reducing energy use and greenhouse gas emissions. | All internal operations |  |  |  |  |  |
Water Reducing water use, particularly in facilities with significant water use and water stressed regions; returning wastewater to a safe state. | All internal operations |  |  |  |  | |
| Waste Managing and reducing waste (hazardous and non-hazardous) in Greif’s operations, reducing waste to landfill, reclaiming waste and byproducts for beneficial reuse. | All internal operations |  |  |  |  | |
| Addressing Risk | ||||||
Ethics & Compliance Maintaining governance structures, practices and training that promotes ethical behavior and steering clear of anti-competitive behaviors (bribery, corruption, etc.). | All internal operations; all suppliers |  |  |  |  | |
Risk Management & Business Continuity Regularly conducting risk assessments that include environmental, social and governance factors: determining high-risk suppliers (only one supplier), high risk/politically unstable regions (e.g., weather impacts in Houston) and potential labor-related work stoppages; putting plans in place to ensure uninterrupted supply, operations and delivery to customers (e.g., qualifying backup suppliers). | All internal operations; all suppliers |  |  |  |  | |
Security Adopting a proactive approach to information security—including personal data and intellectual property—taking into account not only Greif’s internal level of protection, but also the security of the entities with whom Greif is connected (suppliers, employees, customers, etc.); taking necessary measures to ensure that Greif’s customers’ customers receive what they order versus counterfeit products. | All internal operations |  |  |  | ||
| Valuing Our People | ||||||
| Diversity, Equity & Inclusion Ensuring fair hiring processes and a non-discriminatory work environment; fostering an inclusive and diverse culture that reflects the communities where Greif operates; striving to achieve equitable pay and treatment among all employees, regardless of any characteristics such as race, ethnicity, color, nationality, gender, gender identity, sexual orientation, age, language, religion, creed, social status, disability or any other legally protected class. | All internal operations |  |  |  | ||
Talent Attraction, Development & Retention Attracting and retaining qualified and talented employees, managers and executives. Cultivating a culture of growth and development through education, training, mentorship, performance reviews, coaching, etc. | All internal operations |  |  |  | ||
| Health & Safety Promoting and practicing the highest standards of workplace health, safety and well-being through management systems, targets, policies, programs, trainings, certifications, audits and compliance. | All internal operations; Community |  |  |  |  | |
Human Rights & Fair Labor Practices Ensuring compliance with laws, standards and internal policies on topics within the realm of human rights and fair labor practices such as child labor, forced labor, fair remuneration, human trafficking, working conditions, freedom of association, collective bargaining, discrimination and conflict-free minerals. | All internal operations; all suppliers |  |  |  |  | |
| Advancing Circular Economy | ||||||
Innovation Carefully considering raw material inputs and alternative and recycled materials (e.g., post-consumer resins, water-based paints and linings, recycled wood pallets) based on environmental and social impacts; reducing the amount of materials used in Greif’s products; taking customers’ specific needs and Greif’s expertise and using that to drive innovative, customized solutions to drive business growth. | All internal operations; suppliers; customers |  |  |  |  | |
| Circular Economy Advancing the circular economy within the packaging industry by taking actions that enable reconditioning, reuse and recycling of products at end of life, including avoiding mixtures of plastics and developing designs that enable recycling (e.g. fully recyclable fiber drums); educating and incentivizing customers to return/recycle Greif’s packaging materials; creating policies, processes, targets and tools to support these efforts. | Reconditioning operations; reconditioning partners; customers |  |  |  |  |  |
Global Supply Chain Management | All internal operations; all suppliers; trucking partners |  |  |  |  |  |
| Financial Performance & Profitable Growth | ||||||
Financial Performance & Profitable Growth Maintaining a sustainable business model by implementing integrated economic practices that allow Greif to provide economic value to its stakeholders (e.g. employees, suppliers, and shareholders) and invest in long-term growth. | All internal operations |  |  |  | ||
