129 ANNUAL REPORT 2022 SUSTAINABILITY STATEMENT MATERIALITY MATTERS The global business landscape is continuously evolving, with environmental aspects being increasingly seen as important to all industries, especially for those that are carbon-intensive. In alignment with this, social aspects are also increasingly scrutinised as awareness towards sustainable business practices become mainstream. Against such a backdrop, Yinson realises the importance of reviewing our material matters to better improve our business strategies in an effort to maintain alignment of viewpoints from internal and external stakeholders. Our Corporate Sustainability team has thus refreshed our Materiality Matrix through in-depth, one-to-one discussions with key internal and external stakeholders. MATERIALITY PROCESS The following process was undertaken to arrive at the Materiality Matrix above. Identification of topics An assessment on topics important to our industry from local and global levels, taking into consideration our previous Materiality Matrix; as well as that of peers. Stakeholder engagement We engaged with over 40 stakeholders, covering our Board, Senior Management, department representatives, and representatives of key stakeholder groups including financial institutions, investors, clients and Governmental agencies. Prioritisation of topics Using the results from the stakeholder engagement, we assessed each material topic in accordance to financial, operational and reputational impact. Following this, we plotted the findings on our new Materiality Matrix. Validation of findings The new Materiality Matrix was presented to our Board and Senior Management for review and concurrence. Yinson perspective (Impact on business) Stakeholder perspective (Degree of societal concern) Increasing importance Increasing importance Points of differentiation: Topics where Yinson can lead. Value enhancement: Topics which can add operational value to Yinson. Value protection: Foundation topics to Yinson. MATERIAL TOPICS Business Management & Profitability Business Model Innovation Good Corporate Governance Cybersecurity Digitalisation Human Capital Development Operational Health & Safety Human & Labour Rights MF1 MM1 MI1 MI2 MI3 MH1 MH2 MH3 Sustainable Supply Chain Management Client Relationships Community Engagement Climate Change & Greenhouse Gas Emissions Waste & Pollution Management Environmental Stewardship MS1 MS2 MS3 MN1 MN2 MN3 YINSON’S 2021 MATERIALITY MATRIX
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