“The stakeholders are individuals or groups that influence or are influenced by an organization and its activities.”

Robert Edward Freeman – US philosopher and professor

The first step for a socially responsible business is to identify the stakeholders with which it has relations, and open a dialogue oriented towards listening and cooperation with each type of stakeholder.

Who are our stakeholders?

Our stakeholders belong to five groups:

  • Market: customers, institutional investors, suppliers, placing agents, competing businesses, project partners
  • People: employees and contractors
  • Governance: partners and governing bodies
  • Environment: local communities and future generations
  • Communities: financial community and supervisory authorities

Influence and dependence

Following the model proposed by the consultants AccountAbility, we assessed the degree to which our stakeholders affect our activities (extent of influence) and the degree to which they are influenced by us (extent of dependence).

The matrix of these two dimensions shows that the stakeholders with the greatest impact on our activities and the most closely influenced are:

  • employees
  • placing agents
  • institutional investors
  • private clients

This is why we involve these groups actively in our decision-making processes and in stakeholder engagement.

Further information on the mapping of stakeholders is available in our Social Responsibility Policy.


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