Sustainability Materiality

Our Sustainability Report

IRPC has disclosed sustainability performance information to stakeholders through the annual Sustainability Report and the corporate website on a yearly basis. In 2021, IRPC adjusted the disclosure format to take the form of “Annual Registration Statement/Annual Report 2020 (Form 56-1 One Report), combining them as One Report as shown in Section 3 Business driven sustainability, as well as disclosing such information on the website in the Sustainable Development section, as is the case each year, to communicate material issues relating to sustainability of our business operations to all stakeholders. This report also contains current status and progress on the implementation of the United Nations Global Compact (UNGC) by preparing a report in accordance with the guidelines for the Annual Registration Statement/ Annual Report, Form 56-1 One Report, of Office of the Securities and Exchange Commission (SEC) and the Sustainability Reporting Guideline (Standards) of the Global Reporting Initiative (GRI) at the level of Core Option and additional indicators for companies in the Oil and Gas Sector Disclosure. In its latest Sustainability Report 2020, IRPC maintained the scope of reporting on business driven sustainability in Form 56-1 One Report 2021, covering economic, social and environmental operations between January 1 and December 31, 2021, approved by the Board of Directors, the Chief Executive Officer and President as well as high-level executives from relevant departments, and reviewed and audited by KPMG Phoomchai

Audit Co., Ltd. to reassure all stakeholders as to its accuracy, reliability and in alignment with the business operation that is also traceable to the sources of information in every respect.

Scope of the Report

Disclosure of operating results, covering all businesses operated directly or owned by IRPC through shareholding, include IRPC Public Company Limited, as well as subsidiaries under IRPC’s management, with over 50 per cent of shares held by IRPC, are: 1) IRPC Oil Company Limited; 2) IRPC A&L Company Limited; 3) IRPC Technology Company Limited; and 4) iPolymer Company Limited; along with Rakpasak Company Limited, whose shares are held indirectly by IRPC through its subsidiaries, amounting to more than 50 per cent.

Materiality Assessment

IRPC addresses issues that are material to stakeholders and within the context of sustainability. The identified issues cover governmental regulations and megatrends of business operations, such as COVID-19, cybersecurity, climate change, water security, urbanization, and plastic waste management. Moreover, issues that are addressed in reputable organizations, like World Business Council for Sustainable Development (WBCSD), United Nations (UN), United Nations Development Programme (UNDP), RepRisk, SustainAbility, World Economic Forum, SDGs, NSTDA, DJSI, and GRI are taken into consideration together with corporate risk, sustainability management policy, business directions, and operations. Past materiality assessment results are used to prioritize new material issues that affect IRPC’s sustainable business operations and assess the organization’s policy. IRPC’s material issues are disclosed in the organization’s sustainability report and website.

Sustainability Materiality Assessment Procedure 

 

Outcome of IRPC’s Sustainability Materiality Assessment

IRPC’s Sustainability Material Issues

IRPC is committed to identifying relevant material issues under the sustainability context by covering all three factors of economic, environment, and social. In accordance to the GRI standard, IRPC ensures that all material issues, scope of impact, and topic reported are reevaluated for each year. Following from 2019, IRPC enhances its material assessment procedure by ensuring that updated innovation and technological strategies, such as circular economy and cybersecurity are valued with high significance to align with IRPC’s corporate strategy in 2021.

In 2021, IRPC identified the material issues that encompasses high business and stakeholder significance which includes the following:

Sustainability material issue	Sub-issue	Scope of impact	Supporting The UN SDGs	Topic location
				Form 56-1 One Report	Form 56-1 One Report
Sustainable Value Material Creation Material Issue
Climate Change	·  Water Related Risk ·  Emissions	·  IRPC and subsidiaries ·  Customers/ Consumers ·  Employees ·Communities, Society and Environment	6,7,12,13	Climate ChangeManagement	Climate Change,Energy, andWater ResourceManagement
Circular Economy		·  IRPC and subsidiaries ·  Customers/ Consumers	12	Circular Economy	Circular Economy
Creating Social Value	·  Local Communities ·  Indirect Economic Impacts	·  IRPC and subsidiaries ·Communities, Society and Environment	3,4,8,10	Creating sharedvalues for society	Social well-being
Innovation		·  IRPC and subsidiaries ·  Customers/ Consumers	8,9,12	Innovation and specialty products	Innovation forsustainability
Enabling Material Issues
Agile human	·  Employment· Strategic Workforce Planning ·  Training and Education	·  IRPC and subsidiaries ·  Employees	4,8	· Management and human resource development ·  Summary of performance	·  Personnel management
Digital transformation		·    IRPC and subsidiaries · Shareholders/ investors·    Employees·    Partners		Digitaltransformation	Cyber security
Operational eco-efficiency	·  Energy·  Emissions ·  Waste ·  Environmental Compliance	·  IRPC and subsidiaries ·  Customers/ Consumers ·  Employees ·  Communities, Society and Environment	6,7,8,9,11,12	·  Operational Eco-efficiency ·  Summary of performance	·  Operational Eco-efficiency
Business Fundamental Material Issues
Business ethics		·    IRPC and subsidiaries ·    Shareholders/ investors ·    Employees ·    Customer/ consumers ·   Partners	8,10,16		Governance
Governance	·       Organizational Profile ·       Governance·       Anti-corruption ·       Public Policy)	·    IRPC and subsidiaries ·    Shareholders/ investors ·    Employees ·    Customer/ consumers ·   Partners	8,10,16		Governance
Compliance		·    IRPC and subsidiaries ·    Shareholders/ investors ·    Employees ·    Customer/ consumers ·   Partners	8,10,16		Governance
Customer Relationship Management	·       Customer Health and Safety ·       Marketing and Labelling·       Customer Privacy	·    IRPC and subsidiaries ·    Customer/ consumers		·   Customer Relationship Management	·   Customer Relationship Management
Occupational Health & Safety	·       Occupational Health and Safety ·       Asset Integrity and Process Safety	·    IRPC and subsidiaries ·    Employees ·   Communities, Society and Environment	8	·   Occupational Health & Safety	·   Occupational Health & Safety ·   Performance summary
Risk and crisis management		·    IRPC and subsidiaries ·    Shareholders/ investors ·    Employees ·    Customer/ consumers Partners ·    Communities Society and Environment		Risk and crisis management	Risk and crisis management
Human Rights	·    Human Rights Policy and Related Policies ·    Implementation of human rights projects	·    IRPC and subsidiaries ·    Shareholders/ investors ·    Employees ·    Customer/ consumers Partners ·   Communities Society and Environment	6,8,10	·    Implementation of Human Rights	·    Implementation of Human Rights ·    Performance Summary
Sustainable supply chain		·    IRPC and subsidiaries ·    Employees ·    Customer/ consumers ·    Partners	12		·    Sustainable Value Chain