Materiality

Creating, engaging and nurturing dialogue with all our stakeholders is vital to us

Open and transparent dialogue is the only way to get to know what each of our stakeholders expects from us and how we – as a bank-insurer – can best meet these expectations.

By engaging in dialogue and getting involved in new projects, we endeavour to create value for all our stakeholders.

Materiality

Our materiality assessment – performed every two years in cooperation with a third party – enables us to identify which themes our stakeholders consider the most important, what priority they place on them and how much these themes might impact KBC’s performance and reputation. The most recent dates from 2020.

Phase 1: Stakeholder mapping and determining the interest that stakeholder groups have in KBC or the influence they exert on KBC

Phase 2: Identifying and defining 13 material topics (short list)

Phase 3: Holding online surveys and in-depth interviews with external stakeholders, senior management and the Board of Directors (including asking them to select their top 5 material topics)

Phase 4: (1) Drawing up the materiality matrix, (2) Submitting the matrix to the Internal Sustainability Board and having it validated by the Executive Committee, (3) Getting feedback from the External Sustainability Board

Phase 5: (1) Determining the maturity level of the 13 material topics in a workshop with representatives of all core countries, (2) Checking the outcome of the exercise to see whether it complies with the group's sustainability strategy
Our high-impact topics are (1) long-term resilience of our business model, (2) sustainable and responsible lending, insurance and advisory service offering, (3) ethical business conduct and responsible behavior

The conclusions and recommendations of the materiality assessment were discussed and validated at our Internal Sustainability Board, ratified at our Executive Committee and presented to the Board of Directors. Lastly the members of the External Sustainability Board were invited for discussion and gave valuable feedback – each from their field of expertise.

You can find the results of the complete survey in our Sustainability Report and in the Annual Report.

In dialogue with

External stakeholders

We organized – in collaboration with external partners – a webinar on the EU Green Deal, a seminar on the Future of non-financial reporting and a Sustainability conference focusing on climate-related issues. KBC Belgium Business unit engaged in dialogue with several business clients and support them in their transition to a greener economy.
We invite our customers to test new processes and functionalities in usability labs, measure customer satisfaction and hold individual or panel discussions in Customer Corners. We not only learn what they think is important, but also how they experience our products and services and, more importantly, how we can improve them.
In addition, we also look beyond our own business to be aware of what’s happening and developing in our society.
At the same time, we pursue regular, direct dialogue with NGOs to determine where and how KBC can contribute to solving society’s problems.

Our people

In 2020, we measured engagement using three questions that gauged the level of pride in working for KBC, how motivated people were in their job and whether they still saw themselves working for KBC within three years. In some of our core countries, the engagement survey was integrated into a broader study. For KBC Belgium, this took the form of a second ‘Shape your future’ survey. In addition to engagement, we also measured the impact of our strategy update.
We also listened closely to our employees in times of Covid-19 and launched a local survey in May 2020 and June 2020 in Belgium, Ireland, the Czech Republic and Bulgaria. The focus of the survey varied in our core countries depending on local needs and the level of maturity in terms of teleworking.

Last update: 29-03-2019
We use cookies and similar technologies to make our website work better for you and ensure your online experience with us is more enjoyable and rewarding. We may also adapt our website to your needs and preferences. By continuing to use this website, you consent to our use of cookies. Learn more or reject cookies.