Materiality
and Stakeholders
Materiality
and Stakeholders
In 2015 we continued to reinforce the bonds with our stakeholders, with whom we constantly interact and maintain a permanent dialogue through a range of communication channels. In addition, we consolidated our commitment with transparency by –once again– preparing our Annual and Sustainability Report based on the G4 Global Reporting Initiative Guide (GRI).
Together with milenio3genera –sustainability consultants– we carried out the renovation of our materiality study using the following methodology:
Relevant issues for Gentera
The most important results of the engagement are the following:
Employees
The most important issues for the group are:
- Non-discrimination
- Equal remuneration for men and women
- Diversity and equal opportunity
- Relations between employees and Management
Considered to be some of the elements Gentera takes into account when focusing on the individual as a socially responsible company.
Generally, besides the Code of Ethics and Conduct, employees are not aware of the policies that address these issues; however, they are aware of Gentera’s initiatives to eradicate financial exclusion and empower the communities where the Group is present, the projects driven by Fundación Gentera and its environmental care actions.
Networks and organisms
The issues of greatest interest to the group are:
- Fair trade
- Free competition
- Regulatory compliance
Declared companies must be governed by values that provide them with identity and which convey a high reputation level to society.
Participants declared that to belong to an organism there is no obligation to implement social responsibility programs; nevertheless, they called attention to the proactivity of the associates in driving and exchanging best practices.
On the other hand, they point out that international trends suggest that, consistent with the commitment to operations sustainability, companies of the financial sector must establish detailed environmental and social risk analysis tools for the projects to be funded.
Moreover, they emphasize the importance of financial education in the sector, since they believe its importance lies in offering responsible financial services through products that are adequate for:
- Satisfying the needs of clients
- Encourage the participation of a greater number of persons in the formal financial system
- Support national economy
Material aspects for Gentera
Material aspects confirmed by the stakeholders in the dialogue are show in the matrix below:
Material aspects were revised and translated into aspects established by the G4 Guide of the GRI, as shown in the following table:
| Issue | GRI Aspect |
|---|---|
| Financial topics | Economic performance / Indirect economic impacts / Overall |
| Corruption, bribing and transparency | Anti-corruption / Public policy / Anti-competitive behavior |
| Risk management | Strategy and analysis / Economic performance |
| Talent attraction and retention | Employment / Labor-management relations |
| Human capital development | Training and education |
| Diversity and equal opportunities | Diversity and equal opportunity / Equal remuneration for women and men / Non-discriminationn |
| Social impact | Economic performance / Indirect economic impacts / Local communities |
| Product and service development / product responsibility | Customer health and safety / Product and service labeling / Marketing communications / Compliance |
| Ethics and integrity | Ethics and integrity |
| Client relations management | Customer health and safety / Product and service labeling / Customer privacy |
| Corporate Social Responsibility management | Commitments to external activities |
| Corporate governance | Governance |
Aspect boundary of every material aspect is detailed in the following table:
| Material aspect | Coverage | Limit | |
|---|---|---|---|
| Economic performance | Investors, employees, clients, suppliers, strategic partners and competitors | ||
| Indirect economic impacts | Clients, suppliers, communities and civil society organizations | ||
| Overall | Communities and civil society organizations | ||
| Employment | Employees and communities | ||
| Labor/Management relations | Employees | ||
| Training and education | Employees | ||
| Diversity and equal opportunity | Employees, suppliers, clients and future generations | ||
| Equal remuneration for women and men | Employees | ||
| Investment | Employees, suppliers, communities and civil society organizations | ||
| Non-discrimination | Investors, employees, clients, suppliers, strategic partners, competitors, authorities, communities, civil society organizations, future generations, networks, associations and organisms, mass media and opinion leaders | ||
| Local communities | Future generations, communities and civil society organizations | ||
| Anti-corruption | Suppliers, clients, communities, employees, authorities, mass media and leaders of opinion | ||
| Public policy | Employees, strategic partners, competitors, authorities, networks, associations and organisms, mass media and opinion leaders | ||
| Anti-competitive behavior | Employees, strategic partners, competitors, authorities, networks, associations and organisms, mass media and opinion leaders | ||
| Customer health and safety | Employees, clients, authorities, networks, associations and organisms | ||
| Product and service labeling | Clients, authorities, competitors, networks, associations and organisms | ||
| Marketing communications | Employees, clients, authorities, networks, associations and organisms | ||
| Customer privacy | Employees, clients, authorities, networks, associations and organisms | ||
| Compliance | Employees, clients, authorities, networks, associations and organisms | ||
- Material for the Group and its companies
- Material inside and outside the Groups and its companies
- Material inside the Group and its companies
- Material outside the Group and its companies
The following table shows the detail of the communication channels available to our stakeholders, as well as their expectations and the response to each of them:
G4-24, G4-26, G4-27| Stakeholder |
Communication channel |
Contact frequency |
Expectations | Response |
|---|---|---|---|---|
| Clients |
|
Constant | Availability, security and speed in offered services and products, client protection features, financial education and entrepreneurship culture. | Gentera offers financial services –credit, savings, payment channels and remittances- adequate, affordable and convenient for the targeted segment. |
| Employees |
|
Constant | Fair wages, balance of personal, work and family life; professional development training; volunteer activity participation. | We have a compensation system above the one required by law, leadership programs, education and training; we seek to retain human talent. |
|
Monthly | |||
|
Annual | |||
| Investors |
|
Constant | Profitability and transparency in management of the business. | We publish our results for investors in time and manner, complying with the regulations that govern us as a public Company. |
|
Quarterly | |||
|
Annual | |||
| Suppliers |
|
Constant | Fair treatment, transparency and timely communication. |
At Gentera, procurement is carried out by the Direction of General Services and Material Resources. The process consists of calling for bids of the services and purchases required by other areas, sending in at least three quotes and selecting the best supplier on the basis of quality and price of the deliverable. To support this relationship, in 2013 we elaborated the Code of Ethics and Conduct for suppliers, which comes with a letter of acceptance in which both parties make a commitment to comply with Gentera’s philosophy and principles. |
| Authorities, regulators and legislators |
|
Constant | The capacity to influence on the actors who have the power to decide on aspects of interest to the financial sector, to create an environment favorable to the business model. |
Gentera is a Company that complies with timely information, transparency and the regulation applicable in every country in which it operates. We constantly monitor the requirements of the authorities close to Gentera and its companies. |
|
|
|||
| Community |
|
Constant | To have the general public find out about Gentera and its companies and the financial services they offer. |
Gentera is an entrepreneurial group with 25 years’ experience, working for financial inclusion of the bottom of the pyramid. Through our companies we offer diverse financial services –credit, savings, payment channels and remittances- for the targeted segment. |
| Civil Society organizations |
|
Constant | Support social initiatives and projects in parallel to corporate social strategy to improve education and welfare of communities close the operations of Gentera and its companies. |
Committed with generation of social value, Gentera has a social responsibility strategy which includes:
|
|
Annual | |||
| Competitors |
|
Constant | Free competition and knowledge of the Gentera business model. | Gentera, leader in financial inclusion, is a transparent organization, which has contributed to the creation of the industry throughout 25 years. |
| Future generations |
|
Constant | Generate social value for children and Young people of the communities where we operate to contribute to the development of education in Mexico. |
Gentera aspires to generate three types of value: social, economic and human, in the communities where it operates. Children and young people who are part of these communities are important to Gentera and its companies. |
|
Annual | |||
| Media and leaders of opinion |
|
Constant | Transparency, opportunity and truthfulness in delivered information. |
Gentera is an entrepreneurial group with 25 years’ experience, working for financial inclusion of the bottom of the pyramid. We provide information of results and news that impact operation and are that are of interest. We maintain an open relationship and constant communication with financial and business news sources. |
| Partners |
|
Annual | Gentera makes partnerships in two ways: some focused on the business to improve business unit efficiency, and others focused on social issues. | Gentera is open to considering agreements with different organizations in terms of the business model and corporate social responsibility strategy. |
| Networks, associations and organisms |
|
Constant | Transparency and cooperation with associations of the financial sector. | As part of the financial system, Gentera constantly participates in associations that represent its business model. |
| Academia |
|
Periodic | Link to the academic sector to share the business model. |
We are open to participating in academic studies that contribute with results of the industry. We also participate with lectures and presentations at university academic forums. Our academic relations programs, such as the one for Summer Scholarships, brings college students to projects related to the financial services we offer. |