An ongoing dialogue with our stakeholders
In TotalEnergies’ view, dialogue with its internal and external stakeholders is essential for the Company to conduct its business responsibly and integrate the long-term challenges of sustainable development in its strategy and policies. That dialogue informs the Company’s decision-making, by helping it identify the risks and impacts of its operations and, more generally, by providing greater insight into changing societal patterns and expectations. It is also a prerequisite to ensuring that the Company is firmly integrated in its host regions, as well as an effective tool for identifying ways to generate value at the local level.
The Company believes that transparency is an essential factor in building a trust-based relationship with its stakeholders and ensuring that the Company is on a path of continuous improvement. Pending the adoption of an international, standardized non-financial reporting framework, TotalEnergies is making every effort to report its performance on the basis of the various commonly used ESG reporting frameworks. As such, TotalEnergies refers to the Global Reporting Initiative (GRI) standards and those of the Sustainability Accounting Standards Board (SASB), for which detailed tables of correspondence are available. TotalEnergies’ reporting also includes the World Economic Forum’s core indicators(1). Furthermore, it follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) for its climate reporting. TotalEnergies is also willing to bring to all of its stakeholders the needed performance indicators.
For more than 15 years, TotalEnergies has structured its dialogue processes with its stakeholders at different levels of the company, through relays within the organization, requirements included in internal reference frameworks, the deployment of a methodology (SRM+) for conducting local dialogue and a dedicated attention to the professionalization of the teams responsible for fostering that dialogue.
Those measures are designed to develop a long-term, trust-based relationship founded on principles of respect, attentiveness, constructive dialogue, proactive engagement and transparency, consistent with the legitimate need for confidentiality as appropriate. They also ensure that stakeholder warnings or grievances can be gathered and addressed quickly and that potential controversial situations are defused.
Each group of stakeholders (employees, employee representatives, customers, investors, shareholders and the financial sector, government officials, suppliers, academics, NGOs and civil society, and the media) has a single point of contact at the corporate level, responsible for responding to their requests, keeping them informed and maintaining an ongoing dialogue in formats appropriate to each concern.
Moreover, the director of each of these points of contact sits on the Company’s CSR coordination committee, which meets four times a year. At each session, the committee devotes a portion of its agenda to either discuss concerns expressed by stakeholders or to meet with one or more external stakeholders.
Those stakeholder liaisons also provide advice and support to Company subsidiaries as needed. The One MAESTRO framework provides that subsidiaries should conduct a stakeholder mapping and engage in a structured, ongoing process of dialogue with stakeholders to keep them informed, hear and address their concerns and expectations, report on mitigation actions or compensation, measure their satisfaction and identify ways the subsidiaries can improve their community outreach.This commitment to local dialogue puts special emphasis on residents and communities located near Company facilities.
The Company intends to pursue these initiatives and launch further projects in 2021 to create an even more strategic and proactive process of stakeholder relations, designed to help guide TotalEnergies’ transformation into a multi-energy company and, more largely, offer concrete evidence that the Company is fully engaged in the challenges facing society.
(1) Measuring Stakeholder Capitalism Towards Common Metrics and Consistent Reporting of Sustainable Value Creation, White paper, septembre 2020.