The materiality analysis is used to identify the most significant aspects that affect responsibility as concerns TVO's stakeholders and business activities. Apart from the personnel, TVO's most important stakeholders include shareholders, authorities, investors, decision-makers, local community, contractors, media and the public.
The reporting principles pertaining to content definition in the Global Reporting Initiative (GRI) Standards were used as the basis in the definition of the reporting content and in the materiality analysis. The materiality analysis is regularly updated. Social responsibility information is reported on TVO's website in accordance with the materiality analysis updated in 2016.
The updating of the materiality analysis was started by identifying aspects relevant to TVO on the basis of discussions with the Company management, the personnel and external stakeholders, as well as information obtained from opinion polls. Data were produced for the materiality analysis by the "Energy attitude" survey as well as the stakeholder survey carried out as an online survey and targeted at shareholders, decision-makers, public officials, media, opinion leaders, experts, non-governmental organisations and the personnel. In addition to these, the comments and queries made by visitors to the plant were taken into account in the preparation of the analysis. After the prioritisation of material aspects, the outcome of the analysis was the materiality analysis confirmed by the key persons of corporate social responsibility; it describes the view of the Company and its stakeholders of aspects of responsibility that are important to TVO, the impact of responsibility and the development areas of social responsibility. After prioritisation, the materiality matrix was once more subjected to an approval procedure carried out as discussions between experts in corporate social responsibility and representatives of Company management. The Senior Vice President in charge of corporate relations has approved the aspects most relevant to TVO and the content of responsibility reporting.
Based on the materiality analysis, for TVO the most important aspects of responsibility include a safety culture of a high standard, a good work community, safeguarding the shareholder value, and the supply of electricity to the Finnish people as well as a positive impact on the climate.
