The Group updated its materiality analysis during 2020 to define the material sustainability issues that are considered to be most significant to the Group and its stakeholders.
Materiality Assessment Process
1. Identification | - Identified sustainability issues that are considered relevant and important to our businesses and their stakeholders based on a review of our sustainability-related practices and the previous year’s process.
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2. Prioritisation | - Mapped the issues identified as material for the energy and utilities sector by local and international reporting frameworks such as MSCI and DJSI ESG ratings.
- Assessed the importance of issues based on the expectations of regulators, sustainability ratings and industry peers.
- Prioritised issues that have a significant impact on the Group's ability to create long-term and sustainable values.
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3. Validation | - Reviewed and approved the material issues by the Sustainability Committee.
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The material sustainability issues identified can be assigned to three categories:
Environment | Social | | Governance |
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- Combating Climate Change
- Opportunity in Clean Technology
- Preserving Natural Environment (including biodiversity, water, effluent and waste)
| - Human Capital Development
- Occupational Health and Safety (including emergency response)
- Cybersecurity
- Supply Chain Management
- Community Engagement
| | - Corporate Governance
- Business Ethics
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The 10 issues listed in the table above are identified as material sustainability issues relevant to the whole Group or specific businesses based on their circumstances.
The material sustainability issues include environmental, social and governance concerns reflecting diverse external stakeholder priorities and the Group’s operational and regulatory risk focus. The materiality result supports the identification of the focus areas for continuously managing and monitoring its sustainability performance and the development of sustainability strategies. They indicate the main challenges and opportunities for the Group as it operates and manages sustainability based on its principles and pillars.