IRPC Materiality Assessment In alignment with the Global Reporting Initiative (GRI) Standards, IRPC conducts a materiality assessment to identify sustainability issues significant for both the business and our stakeholders on an annual basis. This comprehensive assessment incorporates stakeholder expectations and concerns, industry trends, relevant standards, regulations, and guidance from recognized domestic and international organizations. The annual process reviews changes in impacts due to evolving internal and external contexts, with analysis results integrated into the formulation, development, and revision of sustainability goals and strategies. Key steps in IRPC’s materiality assessment process include: Understand the organization’s context IRPC conducts a comprehensive analysis of our business context, considering both internal factors such as purpose, values, strategies, organizational structure, business activities, and stakeholders across the entire value chain, as well as external factors including industry trends, regulatory frameworks, and relevant standards. Additionally, stakeholders’ expectations and concerns, encompassing shareholders or investors, employees, customers or consumers, suppliers, community, society, and the environment, collected through annual surveys, were also analyzed to predetermine the most relevant and significant sustainability topics for the company. 1. Identify actual and potential impacts IRPC identifies the actual and potential impacts of materiality issues on the economy, environment, stakeholders, and human rights. This encompasses positive and negative impacts, both in the short and long term, across all IRPC business activities throughout the value chain. 2. Assess the significant of the impacts Adhering to the principle of double materiality, our assessment method involves evaluating impacts on the economy, environment, stakeholders, and human rights, as well as the assessment of associated risks and opportunities for the company. The significance of these impacts is further determined through stakeholder engagement, considering the severity (scale, scope, irremediable) and likelihood of these impacts. 3. Prioritize the most significant impact IRPC prioritizes and selects key sustainability issues according to their impact level, as determined by the results of the significance assessment. These identified issues undergo verification through expert testing, involving a review of environmental, social, governance, and economic (ESG) issues from both national and international thought leaders, including Global Reporting Initiative (GRI), Dow Jones Sustainability Indices (DJSI), World Economic Forum, World Business Council for Sustainable Development (WBCSD) UN Global Compact, the Stock Exchange of Thailand, etc., to ensure comprehensiveness. Materiality issues are subsequently approved by the Sustainability Development Committee: SDC and acknowledged by the Corporate Governance and Sustainability Committee at the board level. IRPC Materiality Assessment Result Following IRPC’s materiality assessment in 2023, an analysis of the impact levels associated with each identified sustainability issue is provided in the table below. This evaluation offers a comprehensive overview, detailing the significance of these issues for the business and stakeholders. IRPC categorizes material topics into three groups based on their impact level: Sustainable Value Creation Material Issues, Enabling Material Issues, and Business Fundamental Material Issues, to guide our decisions and actions more effectively. 112 Business-Driven Sustainability IRPC Public Company Limited
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