Materiality Assessment
The Company conducted a Materiality assessment and selected 9 topics for each sustainability-related category to focus upon.
The Materiality Assessment was conducted using a four-step process in alignment with the principles of the GRI standards and UN SDGs:
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- Identification of relevant topics: by evaluation of the boundaries (where the impact of each issue occurred); the impact of each issue was determined both inside and outside the Company, and by the business unit utilizing GRI indicators.
- Prioritization of topics against stakeholder and Company influence and impact: by considering each topic; issues deemed significant to the organization and deemed significant to the stakeholders, and those issues and topics which reflected significant economic, environmental, and social impact.
- Validation of prioritization and identification through review and evaluation; validated through internal representatives of the business units with feedback from the Senior Management.
- Review of context on an annual basis; by incorporating stakeholder feedback from outside stakeholders received through multiple channels, such as Opportunity Day/Investor meetings, the Company website, Regulatory Authorities, and press coverage of the Company.