Materiality assessments are vital for our value creation journey as we seek to identify the ESG issues that matter most to our business and stakeholders.
Process of Sunway Berhad’s Materiality Assessment :
Identification of objectives and scope
Identification and categorisation of material issues
Stakeholder engagement (surveys and focus groups)
Prioritisation of material issues
IDENTIFICATION OF MATERIAL ISSUES
In 2022, we conducted a fresh materiality assessment with 14 material issues addressing economic, environmental, social and governance issues to better reflect our management approach.
- Macroeconomic issues
- Company’s financial performance
- Responsible and sustainable financing
- Capital allocation strategy (Build-Own-Operate (BOO) business model)
- Brand and reputation
- Climate action
- Protection of biodiversity
- Pollution management
- Value chain improvement
- Employee well-being
- Human rights
- Community investment
- Group standards and operating procedures
- Innovation and
We engaged with our stakeholder groups via an online survey to identify and gauge the material issues that should be prioritised based on the resources available to us. We received more than 1,100 responses from the survey conducted.
Board of Directors
Sunway Senior Management / Business Division Heads
Media & NGOs
Government Agencies / Regulators / Local Authorities
Investors / Financiers / Analysts
PRIORITISATION OF MATERIAL ISSUES
Our Build-Own-Operate business model gives us a distinctive competitive edge. It enables us to harness the diverse commercial and operational synergies across our business divisions, and we are constantly conducting research and development to improve the model through Innovation and Technology, a material issue that is pertinent to our sustainable growth in a dynamic operating landscape. We have accelerated the adoption of technology and digitalisation in our aim to become a data-driven organisation. By leveraging innovation and technology, we seek to create integrated, digitalised and transit-oriented cities that are smart and sustainable. We will continue to invest in the training and development of our people in technical and soft skills to further improve our talent management. In this context, job satisfaction is vital for talent retention and employee well-being. We aim to achieve the full potential of our talent management in terms of hiring, retaining and developing our employees.
Overall, our materiality assessment’s findings have informed the management’s resource allocation, which guides our ability to create long-term value for our business and our stakeholders. Every prioritised material matter is intrinsically linked with our decision-making and risk management as it influences the inputs and outputs for each capital, as illustrated in our value creation model.