A lot of critical behind-the-scenes work has to happen to make sure Monsanto meets legal and regulatory obligations, society’s expectations for safety and information, and provides quality products to farmers.
This work may not always be recognized, but it is nonetheless important. Recently, that work was indeed recognized by Corporate Secretary Magazine, which named Monsanto’s Corporate Responsibility & Sustainability Report as one of its three finalists for the 2013 Corporate Governance Awards.
That report is extensive; the executive summary is 32 pages long. Assembling the information for the report requires extensive work by many, many teams across the company. Since the previous report, latest one expanded coverage of climate change, water, labeling, and stewardship, and to report on an additional 30 Global Reporting Initiative (GRI) indicators.
The 2012 report also included our first materiality assessment, following an extensive series of internal and external stakeholder outreach efforts to formally assess the relative importance of a broad range of issues. Using stakeholder feedback, we mapped 18 key issues into what’s called a “materiality matrix” that illustrates their relative importance to our stakeholders and their impact to Monsanto under a traditional Securities & Exchange Commission (SEC) materiality assessment. Our newly formed Sustainability Strategy Council uses the materiality matrix to direct resources and focus toward areas most important to stakeholders and the company.
It’s important work, and we have great people doing it. It’s nice it see them gain some recognition.