Engaging with stakeholders and understanding their needs is crucial for Pennon Group to deliver long-term sustainable value. The Board places utmost importance on stakeholder interests in its decision-making process. Regular two-way dialogue and engagement help shape the Group's strategy, social purpose, and Board decisions while building trust and transparency. Pennon recognises the significant value in stakeholder relationships and reflects their needs and priorities in business plans and operations.
The priority is to build long-lasting relationships, providing clear communication routes into the business. For time-limited stakeholder relationships arising from local projects, the Community Liaison Team follows agreed procedures to identify stakeholders and develop appropriate communication approaches, actively engaging local communities early on. Engaging with all stakeholders is essential, particularly given national and global issues faced by the water sector.
The Group carefully considers decisions impacts on stakeholders and listens to their views, as companies face scrutiny around environmental impacts. Customer engagement is of particular interest, with the WaterShare+ panel and Bristol Water Challenge Group chairs regularly attending Board meetings to provide customer feedback during the PR24 process.
Overall, Pennon Group manages and balances relationships with various internal areas and external stakeholders, such as investors, customers, and Pension Trustees, through consistent stakeholder engagement and communication.