Materiality Assessment

The Company determines the analysis and revision of major issues in relation to sustainability (Materiality) annually with the approval of the Nomination, Remuneration, Corporate Governance and Sustainable Development Committee assessing sustainability’s principal contents by identifying risks and opportunities regarding sustainability covering environmental, social, governance and economic dimensions in consideration of positive and negative impacts together with incident possibilities in the future. The Company considers the impact on stakeholders, society and environment (Impact Materiality) and the impact from external factors on the organization’s financial operation (Financial Materiality) in the entire value chain according to the sustainability’s principal issue assessment of Double Materiality, in relation to the sustainability report of Global Reporting Initiatives (GRI) Universal Standards 2021 featuring the comprehensive evaluation of principal sustainability issues with the integration of the annual organization’s risk assessment for the revision of the change concerning the impact in relation to the changing context, internal/ external factors and situations with the 4 main steps as follows:

01

Evaluation of the Corporate Context

The Company reviewed the sustainability’s major issues.
The Company studied the information concerning the context of its Group and analyzed the trend of significant changes that may affect its entire value chain (Value Chain Analysis).
The Company studied and considered the information in comparison with sustainability issues in alignment with the related domestic and international standards by participating in the sustainability assessment from different units such as SET ESG Rating assessment by the Stock Exchange of Thailand; ESG Assessment Criteria by FTSE Russell, the world’s leading evaluator and the company in London Stock Exchange Group, the international reporting frame developed by The Global Reporting Initiative (GRI), and the criteria according to the Governance Survey of registered companies by Thai Institute of Directors (IOD). Besides, the Company studied the operation frame from other international sustainability assessment as preparation for the ESG evaluation such as S&P Global’s Corporate Sustainability Assessment (CSA), Carbon Disclosure Project (CDP) and The Sustainability Accounting Standards Board (SASB) to apply the principle for the identification of issues, collect and categorize sustainability issues that may have a significant impact on the organization in addition to the consideration of issues in the compliance with United Nations’ SDGs.
The Company considered sustainability issues significantly affecting its stakeholders in relation to the expectation and interest from receiving issues, opinions and suggestions of its stakeholders according to specified its stakeholder engagement through activity channels.

02

Evaluation of the Impact and Materaility Issues Priority

The Company analyzed, reviewed the information received from specified channels from its stakeholders in the value chain and evaluated the principal content regarding sustainability according to environmental, social and economic impacts (Impact Materiality) as well as the impact on the organization in consideration of the financial, operational, strategic, corporate image/ reputation in terms of law and mandatory aspects (Financial Materiality) – by comprehensively analyzing and identifying both positive and negative impacts that occurred and may occur in the future from principal issues regarding sustainability to prioritize impacts and select sustainability issues.

03

Revision and Approval of Materiality Issues

The Company summarized the assessment of sustainability’s principal issues (Materiality) by reporting to the Nomination, Remuneration, Governance and Sustainability Committee to review, approve the related content and disclose the information in its annual report, sustainability report and corporate website.