50 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 MATERIALITY MATTERS In FYE 2024, Yinson conducted its first Double Materiality Assessment (“DMA”), building on the previous materiality evaluations. This assessment enhances our understanding of sustainability topics that are crucial to our stakeholders, as well as evaluates their impacts on Yinson’s strategic priorities and broader environmental and social values. OVERVIEW Materiality is pivotal in Yinson’s journey of value creation, allowing us to identify and focus on topics that are significantly impactful to our business and stakeholders. Our materiality assessments are instrumental in guiding our decision-making processes, particularly in identifying ESG issues that could materially affect our business value and our relationships with stakeholders. To ensure a comprehensive understanding of stakeholder interests and the impact of our operations, we maintain ongoing engagement and gather stakeholder insights, which in turn guide our strategies and shape how we deliver our products and services. For FYE 2024, we have significantly refined our approach to materiality assessments with Yinson’s first DMA. This assessment builds upon our previous analyses by enhancing the identification, engagement, prioritisation and management of critical sustainability issues. It provides us with a deeper understanding and more detailed insights into how Yinson’s activities influence societal and environmental factors (impact materiality), and how social and environmental issues affect Yinson’s financial outcomes (financial materiality). Yinson acknowledges the importance of the Corporate Sustainability Reporting Directive (“CSRD”) and the European Sustainability Reporting Standards (“ESRS”) as emerging frameworks that require enhanced transparency and accountability from companies. These frameworks promote sustainable changes and introduce stringent requirements for reporting on a double materiality basis. While we have referenced the methodology outlined by the CSRD and ESRS for our DMA, we are still working towards full compliance with their reporting standards. We are committed to reviewing and updating our DMA as required. DOUBLE MATERIALITY Financial Materiality This ‘outside-in’ view focuses on how sustainability matters pose a material risk or opportunity that could affect a company’s financial performance and position over the short, medium and long-term. Impact Materiality This ‘inside-out’ view focuses on the actual or potential short, medium, and long-term impacts on people or the environment that are directly linked to a company’s operations and its value chain.
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