Materiality Assessment

In 2022, the Company changed its materiality determination methodology in reference to GRI Universal Standards 2021 GRI 3: Material Topics 2021 in consideration with the Double Materiality and Multi-stakeholder Approach. This is to provide an overview of the operation, including both financial and non-financial impacts on stakeholders, society, and the environment (Outward Impact) and on the business itself (Inward Impact). 

The Company has conducted both negative and positive impact identification and identified its actual and potential impacts on the economy, environment, people and society, including impacts on their human rights, across the organization’s activities and business relationships, such as its suppliers and contractors, throughout the value chain. The impact assessment included both actual and potential impacts, and assessed the importance of the impacts by referencing the OECD Due Diligence Guidance for Responsible Business Conduct. AMATA executives, experts in each field from the relevant departments within the organization, together with external sustainability consultants, assessed the significance of the impacts by considering their severity, scope, likelihood, and irremediable character, with information gathered from affected stakeholders. 

The Company grouped significant impacts into environmental, social, and governance topics (ESG topics). Additionally, the Company considered further topics arising from stakeholder engagement and external factors that may affect the Company either positively or negatively such as global and regional changes, sustainability trends and directions, materiality of peers in the same industry, topics prescribed in industry standards and sustainability assessments, and issues of global concern. 

Materiality Determination Process

The Company assessed the identified sustainability topics through the materiality prioritization process, guided by the Double Materiality concept and principles established by the European Financial Reporting Advisory Group (EFRAG). These topics were assessed based on the significance of their impact on the economy, environment, people, and society, which includes human rights (impact materiality), as well as their influence on the Company’s financial performance and long-term value creation, covering risks and business opportunities (Financial-related Sustainability Materiality). The significant material sustainability topics were then plotted in the Materiality Matrix to illustrate their importance.

  • Vertical axis (Y Axis): represents the level of significance of ESG impacts on AMATA (Inward impact)
  • Horizontal axis (X Axis): represents the level of significance of AMATA’s impacts on people and planet (Outward impact)

  • Bubble size: represents the importance of ESG topics to AMATA’s stakeholders

Materiality Matrix

In 2023, the Company retained the same 19 material topics as in 2022, classified into three levels of importance: critical-impact, high-impact, and moderate-impact. Of these, 12 were deemed critical-impact, 6 high-impact, and 1 moderate-impact. Since all the material topics were related to the human rights of stakeholders, human rights was not listed as a separate topic. Human rights due diligence was conducted, and risk management measures were implemented for each topic to minimize both the likelihood and impact on stakeholders.

Material Topic Management

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