MATERIALITY ASSESSMENT In assessing materiality, ST Engineering considers factors that impact our businesses and our stakeholders, from both financial and non-financial perspectives. Our six material stakeholders include customers, employees and other workers, local communities, suppliers and collaborators, shareholders and investors, and regulators and governments. We conducted our first materiality assessment according to GRI G4 guidelines in 2013 and identified our initial material ESG factors. These were mapped onto the key business risks of the Group to ensure completeness and a clear understanding of the risks each material factor posed. We reviewed and updated our key business risks and material factors in 2015 and 2019. In 2019, the Group’s material ESG factors were reorganised into 10 areas for greater focus and clarity. They were mapped into Environmental, Social and Governance categories and aligned with the UN SDGs. We conducted a review of our material ESG factors in 2022 according to GRI 3: Material Topics 2021 guidelines. Identify and Assess Impacts on an Ongoing Basis Through internal assessment and guidance from disclosure standards By considering our business environment, stakeholders and our operational control Identify actual and potential impacts Assess the significance of the impacts Understand the organisation’s context 2 1 3 Determine Material Topics for Reporting Through surveys and interviews with employees, managers, senior management and customers Prioritise the most significant impacts for reporting 4 Material topics • • • • • • OUR SUSTAINABILITY APPROACH MATERIALITY REVIEW PROCESS 14 ST ENGINEERING SUSTAINABILITY REPORT 2022
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