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Our materiality analysis identifies significant economic, environmental, social and governance factors that could substantively influence the decisions of shareholders and stakeholders regarding our ability to deliver our strategic objectives and value creation over the short, medium and long term. This analysis contributes to the Group's development of its business plans and strategies.
Gold Fields conducts a materiality analysis every year, which is informed by our strategic and risk management processes, amongst other. In 2019, a Group steering committee focused its analysis on reconfirming the scope and boundaries of the analysis recognising the changing footprint of the business. Furthermore, we reconstructed our topics used for the materiality analysis from over 20 different internal and external sources of sustainability priorities relevant to our business. These included the ICMM 10 Principles and eight Position Statements, the GRI Mining and Metals Sector Supplement, the UN Global Compact 10 Principles, investor environment, social and governance (ESG) focus areas, Gold Fields' strategic priorities, internal risk management outcomes and, importantly, external stakeholder engagement outcomes.
From this pool of sustainability topics, we identified 54 potentially material matters, which we further analysed to prioritise and rank them. This resulted in 14 material matters and an additional seven 'relevant' topics for Gold Fields. A significant change, and improvement, in our 2019 analysis has been the prioritisation and ranking of material matters that are most important to Gold Fields, and those which are most important to our stakeholders.
In identifying matters most important to our stakeholders, we utilised feedback from some of our routine engagements with key stakeholders, and materiality assessment interviews undertaken with stakeholders across our business in 2018. This was supplemented with additional interviews undertaken in 2019 and early 2020. As part of our materiality assessment and external stakeholder interviews, we identified an opportunity to diversify our external stakeholder engagement and further strengthen our diversity in materiality assessment interviews.
The graphic below represents the outcomes of the 2019 materiality assessment:
