Double and Dynamic Materiality Assessment
issues that are relevant to Charoen Pokphand Group’s business activities and stakeholders. The materiality assessment process of C.P. Group begins with the preliminary identification of sustainable material issues, then follows by the identification of impacts, risks, and opportunities, the evaluation of material issues by stakeholders and the endings with prioritization of material issues. The materiality assessment process included not only descriptions of processes suggested by international reporting frameworks such as GRI Standards 2021 but also opinions obtained through consultation with external expertise. Furthermore, to increase the reliability and transparency of the C.P. Group materiality assessment process and results, the Group engages an independent third party to conduct a process and result verification.
Double and Dynamic Materiality Assessment Process
Revision of Sustainable Material Issues
This revision was crucial to incorporate new insights and reflect the latest developments in environmental, social, and economic contexts. By consulting with internal and external specialists, Charoen Pokphand Group ensured that our list of material issues remained current and forward-thinking.
Heart
Health
Home
Identification of Impacts, Risks, and Opportunities
Charoen Pokphand Group conducted a study and analysis of impacts, risks, and opportunities related to the Group’s business operations to achieve a comprehensive analysis. Accordingly
the Group thoroughly inspected operations throughout the value chain, products/ services, and usage process of consumers and customers. Furthermore, to understand potential ESG impacts, the analysis also considered both direct and indirect impacts. In addition, the Group adopted the Double and Dynamic approach to assess material sustainability issues. This new methodology helped the Group to gain a greater understanding of sustainability issues and changes that may occur during different circumstances and time periods.
Prioritization of Material Issues that are Significant to C.P. Group and Stakeholders
The final phase involved prioritizing the material issues based on their significance to both Charoen Pokphand Group and our stakeholders. This prioritization process helped the Group identify the most critical areas that require strategic focus and resource allocation. The results of our materiality assessment have been Group’s Enterprise Risk Management (ERM), this is to ensure that the Group systematically manages these issues within our risk management processes.
