WASCO BERHAD 56 SUSTAINABILITY REPORT Financial institutions provide essential funding and financial services that support Wasco’s growth and stability. Maintaining strong, collaborative relationships with them ensures continued access to capital, facilitates strategic investment opportunities, and strengthens overall financial resilience. Engagement Platform & Frequencies of Engagement Issues of Concern Wasco’s Approaches Engagement Sessions AW • Growth project progress and deliverables • Operational, commercial, and financial performance We actively collaborate with financial institutions that align with our sustainability goals, working together to drive longterm environmental and economic progress. FINANCIAL INSTITUTIONS Regular Meetings AW Review Material Matters Stakeholder Engagement Sustainability Impact Assessment Calibration of Stakeholder Engagement and Impact Assessment Review and Approvals PHASE 1 PHASE 2 PHASE 3 PHASE 4 PHASE 5 After completing the materiality assessment exercise, the final materiality matrix was presented to Wasco’s Management Team and the Board for review and approval, ensuring alignment at the highest level of decision-making. The results of both the stakeholder engagement and the sustainability impact assessment were then consolidated into a materiality matrix. This matrix enabled us to clearly identify and rank the top material matters most critical to our business and stakeholders. A sustainability impact assessment was conducted to assess and prioritise the identified material matters based on their significance to our business and broader sustainability goals. Stakeholder inputs, gathered through engagements conducted in FY2023, were reviewed and assessed to incorporate their perspectives into the materiality assessment. Existing material matters were reviewed against the SASB Standards’ Common Material Matters relevant to our industry, as well as Wasco’s business strategies and operations, to ensure their continued relevance to our business and stakeholders. MANAGING OUR MATERIAL MATTERS Materiality assessments are integral to our sustainability journey, as they enable us to evaluate the sustainability issues that affect our business and our stakeholders. We conduct a materiality assessment once every two years to ensure that our focus remains relevant and aligned with evolving sustainability trends, industry developments and regulatory shifts. It also allows us to identify opportunities and mitigate risks associated with each material matter. In 2023, we re-evaluated our material sustainability issues following the consolidation of BUs under Wasco. This reassessment ensures that our material matters reflect current priorities and continue to inform our business strategy and long-term value creation for stakeholders. Importantly, we undertake this review even in the absence of significant internal or external changes, reaffirming our commitment to industry best practices. The following infographic outlines the key steps in our materiality assessment process.
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