Materiality Assessment

BAFS has reviewed/identified material topics by considering its internal and external risks as well as business risks and opportunities, all of which covered economic, social, and environmental dimensions,

Including its stakeholders’ concerns and expectations. Through engagement processes, BAFS’ screening methods for materiality are aligned with the GRI Standards. To obtain material topics, a materiality matrix was applied for assessing material issues with two distinctive considerations, namely

  • Significance Issues Caused by BAFS’ Operations (x-axis) and
  • Significance Issues Concerned by Stakeholder (y-axis) )

In the process of formulating BAFS’ Group’s strategies, BAFS has also checked content completeness to ensure consistency and coverage of all operational aspects against the material topics in sustainability context which includes economic, social, and environmental dimensions to present to the Management for approval

Process of Materiality Assessment

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Material Topics of BAFS in 2022

Environmental Dimension
  1. Climate Change
  2. Waste & Hazardous Materials Management
Social Dimension
  1. Data Security
  2. Community Relations
  3. Product Quality & Safety
  4. Employee Health & Safety
  5. Human Rights
Governance Dimension
  1. Business Model Resilience
  2. Business Ethics
  3. Risk & Critical Management

Material Sustainability Topics of BAFS GROUP

E
Environment Aspect

5

Topics

  1. Management and mitigation of climate change impacts
  2. Power management and efficient use of resources
  3. Hazardous waste and fuel spill managements
  4. Water resources managementำ
  5. Circular economy
S
Social Aspect

4

Topics

  1. Occupational health and safety
  2. Career stability and employee potential development
  3. Participation in community and social development
  4. Human rights and labour rights
G
Economic Aspect

7

Topics

  1. Investment in innovation and alternative energy businesses
  2. Product and service quality
  3. Digitalization
  4. Disclosure of BAFS Group’s business direction, progress, and propulsion that are in line with cultures of sustainability
  5. Supply chain management
  6. Corporate governance and anti corruption
  7. Cyber security
Important Criteria for Considering Organizational Priorities
  1. Opportunities to make impacts of these topics.
  2. Impact severity levels.
  3. Business risk levels.
  4. Long-term impact levels.
  5. The importance or opportunities of the topics in the future.
  6. Consistencies with organizational policies or goals.
Important criteria for considering prioritization of stakeholders
  1. Levels of impacts on stakeholders.
  2. The importance of future topics towards stakeholders.
  3. Diversity of Stakeholders Being Affected.
  4. Levels of expectations on response measures of the Group of Companies.