EGCO Group has identified the materiality topics in consideration of internal and external business operations, including relevant topics regarding stakeholders’ expectations, as well as national and international situations or trends relevant to the power generation industry and in a general context. These identified issues will be determining EGCO Group’s direction towards a sustainable future. This One Report complies with the report requirements of the Securities and Exchange Commission and other guidelines, such as the Institute of Directors’ Corporate Governance ASEAN CG Scorecard, etc. This report was prepared in accordance with an Integrated Report Framework of the International Integrated Reporting Council (IIRC), Global Reporting Initiative Standards’ (GRI Standards) Core Options, and GRI’s G4 Electric Utilities sector-specific disclosure criteria, fully in compliance with the United Nations’ Sustainable Development Goals (SDGs).
The steps to identify the materiality topics are as follow:
1) Identification of Material Issues and Definition of the Reporting Scope
Revising all material issues in 2020 and identifying the material issues in economic, social, and environmental aspects may positively or negatively impact the company’s business operations and activities with consideration to all stakeholder groups. The ranking is estimated according to global sustainability issues and benchmarked against other peer companies. Stakeholders’ opinions remain in consideration.
2) Prioritization of Material Issues
Material issues are prioritized and ranked by two factors; the importance of the issue towards stakeholder groups and their significance on business operations regarding the environment and society. The topics are then distributed along with a Materiality Matrix based on their importance.
3) Validation of Material Issues
External stakeholder groups are selected to help validate the material and prioritized issues after they are ranked. The validated material issues are then reported to the Board of Directors, who will review the issues and have to approve public disclosure of the issues in different dimensions. Afterward, the material issue is organized with respect to their contexts aligned with GRI criteria and the UN’s SDGs. The scope of the report on each topic is then defined.
4) Development of Sustainability Report
EGCO Group has prepared and reviewed the content integrity of the report, which internal committees will double-check. Moreover, the reporting process, stakeholders’ engagement, and the quality of the information are reviewed at the end by an independent organization to ensure disclosure of factual, transparent, and sufficient information.