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Staying focused on what matters most to our business and stakeholders

We continually challenge ourselves to make sure we understand and provide appropriately for what matters most regarding our role in society, the impact that we have, and the value we create.

To help us ensure that our ESG agenda remains appropriately embedded in Group strategy and closely aligned to stakeholder interests and the everyday needs of the business, we use a materiality assessment aligned to external best practice1 and based on:

  • material relevance to our business model, corporate strategy, principal risks and key performance indicators; and

  • material importance for our business and operations as perceived and experienced by our key stakeholder groups.

Each year, the CRC considers how our materiality assessment may need to evolve, seeking input from stakeholders and guidance from relevant internal subject matter experts where appropriate. Our materiality assessment was updated in 2021 to reflect and align with:

  • the enhancements we have made to our ESG Framework in 2021;

  • new input from key stakeholders, including our shareholders;

  • the maturation of strategy and governance across the Serco ESG landscape; and

  • the evolving relevance and importance of material ESG factors.


1. Including the Global Reporting Initiative (GRI) Standards, Dow Jones Sustainability Index (DJSI), the Sustainability Accounting Standards Board (SASB) guidelines and the UN Sustainable Development Goals (SDGs). The Serco materiality matrix was originally generated through formal materiality assessment facilitated by an independent advisory agency.

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