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Materiality Assessment

Materiality Assessment

Materiality Assessment Process

1. Understand the Organization’s Context

The Company has reviewed its organizational context throughout the business value chain from upstream to downstream activities, relationship and business connection, sustainability context from both internal and external factor. In addition, including needs, expectations, and anxiety of all groups of stakeholders that relating to the business operation along with international trends and directions of the same industry to identify a primary key issue which can be divided into 3 aspects:

3 Main Points
1
We care Business
Economic issues
2
We care Social
Social and environmental issues
3
We care People
Employee issues
2. Identify Actual and Potential Impacts

Identified the impact of key preliminary issues both the actual impacts and that the possibility of its happening in terms of economic, social, and environment both positive and negative impacts covered in every aspects of business activities and throughout the business value chain by creating a participation of stakeholders both internally and externally.

3. Assess the Significant of the Impacts

Evaluate the significant of the impact and prioritize a significant according to the Severity impacts measure and likelihood in the dimension of the impact significant to stakeholders and significant impact to the business.

4. Prioritize the Most Significant Impacts for Reporting

Prioritized according to the significant of the impacts by classifying the significant on Materiality Matrix table in which a vertical axis is issue that may have an impact and significant to the stakeholders and horizontal axis is issue that may have an impact and significant to the business success and presented for consideration and revision the correctness and completeness of the significant issues by the working group for organizational development towards sustainability. Then, deliver such issue to the Good Corporate Governance and Sustainable Development Committee and the Board of Directors for approval and verify the issues and establish the sustainability action plan and the organizational risk management plan which have been approved by the Executive Management, with Chief Executive Office serving as the Chairman of the meeting in order to meet with the stakeholders expectation and continuous development.

Sustainability Materiality Matrix

The Company has been reviewed and evaluated a sustainable key issue in every year. In 2023, it was found that there were 13 significant sustainability issues divided into a highly significant 4 issues, high significant 5 issues, medium significant 3 issues, and low significant 1 issue as the following:

We care Business
We care People
We care Social
Click to Enlarge
Summary of Material Sustainability Issues
Highly Significant
  • 2 Risk management during crisis and abnormal state
  • 4 Development of technology and innovation
  • 8 Employee remuneration and retention plan
  • 9 Product responsibility
High Significant
  • 3 Sustainable supply chain management
  • 5 Occupational health and safety in work place
  • 7 Employees developments
  • 10 Waste management form the operation
  • 13 Climate change management
Medium Significant
  • 1 Good Corporate Governance and ethics in business operation
  • 6 Labor management and human rights
  • 11 Community and social relation development
Low Significant
  • 12 Biodiversity management