How Materiality was Determined
The materiality matrix is the result of engagement with a range of stakeholders and feedback from individuals and groups including: Shareholders, regulators, our community through community panels and relationship agreements, staff, industry organisations and partners, public issues expressed in media and direct engagement with Maori.
We gather feedback, identify issues, and assess the material impact on the company. The same process was followed in producing the 2016 matrix. The community panel discussed with us what had changed for them, and for us, since 2016.
Our assets are now very different, and associated activities are consequently lower impact. However, feedback to us stresses that New Zealand Oil & Gas should maintain a high level of awareness and responsiveness to environmental issues. Concern was also raised about how we ensure a good values match when we make investment decisions in future.
The materiality matrix has been changed since 2016 to reflect that feedback.