Economic change, environmental challenges, new technologies and social trends present opportunities as well as risks for our business and the communities we serve, and we must ensure our Little Helps Plan continues to address these issues.
In 2017 we completed our first materiality study and since then we have continued to review and evolve the Little Helps Plan following engagement with our stakeholders about their priorities and expectations. Our expert teams monitor trends, acknowledging that we are operating in a constantly changing world that presents both opportunities and threats. These trends, and their potential to affect our performance, future prospects, reputation or our ability to deliver against our priorities, are monitored as part of our established risk management process and our Little Helps Plan is updated accordingly.
In 2019, we sought input from internal and external stakeholders on our Little Helps Plan and the framework evolved to reflect the findings. We have introduced a new Planet pillar to better reflect the priority we place on important environmental issues such as climate change and deforestation and how material they are to our business. We have also reviewed the topics contained within each pillar, introducing animal welfare in recognition of the importance of high animal welfare standards – both to us and our customers.
We continue to speak to our stakeholders about their priorities, to check the Little Helps Plan aligns with their expectations and gain further insights on emerging issues. The Plan will, as it has already, continue to develop, refine and update to reflect their input.