24 FGV HOLDINGS BERHAD ABOUT FGV MANAGEMENT DISCUSSION & ANALYSIS VALUE CREATION Material Matters APPROACH AND PROCESSES As we strive to compete in a dynamic business environment, FGV continuously assesses the risk and opportunities in the operating landscape to achieve our business strategies. FGV is consistent in conducting a Materiality Assessment annually to understand the scale of its impacts to our varying business. Stakeholders’ feedback is a key consideration factor in the process to gain a more realistic perspective of the prevailing business landscape and challenges. Engaging in frequent assessments is vital to ensure the material matters for FGV Holdings Berhad (FGV) are relevant and updated, whilst making sure that matters of significance to stakeholders and the business are addressed. During the year, we updated our material matters following the current business landscape. The assessment is guided by Bursa Malaysia’s Sustainability Reporting Guide (2nd Edition) and Toolkit on Stakeholder Engagement and Materiality Assessment. In the conduct of the assessment, the following factors were taken into consideration: • Past material matters considered in the preceding year • Issues highlighted by our key stakeholders in previous engagements • Significant issues discussed in Board meetings • Issues relating to global trends and Sustainable Development Goals (SDGs) The above formed the first step in this three-part assessment process. • Identify and prioritise key stakeholders • Create an inventory of material matters that was carried out via internal questionnaire and discussion with project team • Peers benchmarking • Engage with internal and external stakeholders via questionnaire and workshop* • Rank the importance of each matter to key stakeholders and its impacts • Map the material matters to the Economic, Environmental and Social (EES) pillars • Update the Materiality Matrix • Present Materiality Matrix to Senior Management and Board Sustainability Committee for review & validation IDENTIFICATION VALIDATION PRIORITISATION * Proxies were used to represent external stakeholders during the workshop.
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