Stakeholder Engagement

Recognising the importance of effective stakeholder engagement, we highly value each stakeholder group’s unique role and employ tailored engagement channels to gather different opinions and expectations that they consider material to our operation and development. We leverage the opinions of our stakeholders in our business activities to promote and enhance our sustainable development.

Materiality Assessment

Step 1: Identifying Potential ESG Topics

The first step involved extensive desktop research and peer benchmarking. Through this preliminary investigation, we identified a list of potentially material ESG topics that appeared the most pertinent to both our business operations and stakeholder interests.

Step 2: Collecting Feedback from Stakeholders

Having identified the potential material ESG topics, we initiated a thorough review and assessment process. A series of detailed stakeholder engagement and materiality assessment surveys were developed and disseminated among our key stakeholders. The surveys were designed to elicit their perspectives on the impact materiality and financial materiality of each identified ESG topic. Our goal is to understand not only the direct implications of these topics on our business but also their significance from the stakeholders’ viewpoints.

Step 3: Consolidating Data and Validating the Material ESG Topics

The final stage involved consolidating the insights gained from the stakeholder surveys and the stakeholder interviews. We engaged in detailed interview sessions with key stakeholders, including our top management, to dive deeper into their views on ESG and sustainability. These dialogues were instrumental in refining the weightings of the identified material ESG topics, allowing us to adjust and prioritise them accordingly. Lastly, the survey results and relevant findings were presented to our top management for a comprehensive review and approval.

Double Materiality Matrix

We adopted the double materiality matrix, which is a commonly adopted framework for identifying and illustrating a company’s material ESG topics from both a financial materiality perspective (which considers the economic impact of ESG issues on the company) and an impact materiality perspective (which evaluates the social and environmental impacts of the company’s operations). The matrix helps stakeholders understand how ESG factors affect a company’s financial performance and its broader societal and environmental impacts. Under the new double materiality mechanism, we identified nine material topics, summarised below: