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Materiality Assessments Materiality Assessments

Materiality Assessments

Materiality Assessment

In addition to setting development goals and key performance indicators (KPIs), both of which empower organizations to use their full potential, Osotspa believes that identifying and prioritizing the major issues which affect the organization and its stakeholders is critical to shaping our business across economic, social, environmental, and governance aspects

We thus conduct materiality assessments in accordance with the GRI Standards to ensure that our business takes into consideration the changing economic, social, and environmental contexts. Our materiality approach consists of 5 steps that are repeated in the same order for each reporting cycle.

1
Identification
2
Prioritization
3
Validation
4
Engagement
5
Reporting

Top Materiality Issue

  • 1
    Supply Chain Management
  • 4
    Consumer Health & Well-being
  • 7
    Energy & Climate Management
  • 9
    Sustainable Packaging
  • 10
    Waste Management
  • 2
    Supply Chain Management
  • 3
    Product Quality & Safety
  • 5
    Responsible Communication & Product Labelin
  • 6
    Corporate Citizenship & Philanthropy
  • 8
    Waste Management
  • 11
    Human Capital Development
  • 12
    Labor Practice

Once we have the results of the assessment, Sustainability Working Team is responsible for reviewing and identifying potential issues that may arise and affect the entire value chain under the relevant global and local sustainability context. The issues are evaluated using a matrix diagram that considers the average score of each issue’s level of possibility.

The materiality assessment consists of material issue identification, ranked low, medium, and high by importance, and their respective boundaries. The board-level Sustainability Committee and Board of Directors examine any crucial issues before the Board of Directors issues an endorsement. The materiality assessment also impacts how we report our business and sustainability efforts.

Furthermore, key materiality issues are identified through a materiality evaluation process that is integrated into Osotspa's enterprise risk management (ERM) framework, and these issues are considered in formulation and development of Osotspa's initiatives and risk management.

Likelihood Rare Possible Likely
Definition Not Happened
in 3 Years		 Rarely Happened
(1-2 times in last 3 years)		 Already Happened
(3 times or more occasions within last 3 years.)
Impact Low Medium High
Definition < 100 MB and Other Qualitative Factors 100-250 MB and Other Qualitative Factors > 250 MB and Other Qualitative Factors