Advisory Case Study: Materiality Assessement - Britvic

Britvic participated in BITC’s 2014 CR Index, and upon receiving their results in March they were keen to take a deeper look into the gaps identified by the survey.

The challenge

Britvic recognised that a materiality assessment would be helpful for the business, in order to adopt a more strategic and integrated approach to CR. 

What we did

BITC carried out a materiality assessment, which included the identification and prioritisation of Britvic’s key issues.  BITC’s approach involved the following:

  1. Document Review: BITC reviewed key documents Britvic provided related to their commercial and CR strategy, these informed the workshop and interviews

  2. Competitor Analysis: BITC reviewed publicly available information from 4 companies (peers and leading organisations) using BITC’s reporting assessment framework. This covers integrated approach, strategy, objectives and targets, and performance

  3. CR Index Research: Using the wealth of knowledge from the CR Index, BITC Identified sector relevant key issues

  4. Survey and Interviews: For the workshop BITC and Britvic identified key internal stakeholders to engage to achieve maximum impact. They were sent a short survey to help us identify current financial and non-financial priorities for the business in the short, medium and long term. This was complemented by short interviews with 5 key senior stakeholders identified by Britvic

Materiality Assessment Workshop: BITC facilitated a workshop to guide attendees through material issue identification and prioritisation. The session included an overview of Britvic’s CR Index results; an understanding of global mega trends and the risks and opportunities these present to the business; and the findings from stages 1-4.

What we delivered

Business benefits

BITC delivered a Management Report, a detailed report analysing Britvic’s performance in the 2014 CR Index, covering: the company’s strengths and areas for improvement; examples of good practice; an action tool to track progress.

BITC also delivered a workshop with Britvic’s Sustainable Business Committee to go through Index results as well as a session on identifying and prioritising material issues

Following the workshop, BITC produced a report which covered: current and future CR priorities identified through the materiality assessment; subsequent actions to prioritise issues and complete a materiality matrix; a template for Britvic’s priority issues management

Britvic gained a better understanding of the company’s strengths and areas for improvement through an analysis of their CR Index results. Britvic was also provided with a roadmap for improvement.

The company increased its understanding of current and future key risks and opportunities presented by the global mega trends.

The exercise provided the platform on which to build the company’s materiality matrix – reaching out to key stakeholders once the internal priorities had been established. Further details on the materiality assessment and matrix can be found in Britvic’s 2014 Sustainability Report.

Alison Rothnie, Sustainability Manager:

"As a responsible business committed to embedding sustainability into our business strategy, we recognised the need for us to complete a materiality exercise to strengthen our existing programme. BITC helped us navigate the complex issues we face through facilitated workshops and we built upon the initial work further to produce our 2014 materiality matrix. Over the past two years we have subsequently developed our approach further but the help and support provided by BITC at the outset was hugely useful."