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ASSESSING MATERIAL ISSUES BY MAPPING KEY ESG RISKS

At KBL, we endeavour to comprehend the importance of potential Environmental, Social and Governance (ESG) matters in our internal and external operational contexts and also prioritise the strategies to effectively manage our potential issues. The Company recognises that in a dynamic business environment, managing risks and capitalising on opportunities is crucial for sustained value creation and safeguarding the interests of all the stakeholders.

In line with Global Reporting Initiative (GRI) standards, KBL conducted a materiality assessment during FY 2022-23. This assessment involved a comprehensive analysis of ESG concerns with the potential to significantly impact the business, environment, society, and economy. The assessment has enabled KBL to identify and map ESG risks and opportunities, thereby facilitating focussed management actions including reporting of the most significant issues for the Company and its stakeholders.

The prioritisation process for material issues is summarised below. For detailed information on KBL’s management approach and strategies on materiality assessment, please refer to the Business Responsibility and Sustainability Report on Page 108.

KEY MATERIAL ISSUES

High Impact Material Issues

Strategy: Implement and Scrutinise

Approach: The Company must establish systems and working groups for effective management and due-diligence of high impact material topics

  • Product Stewardship and Innovation
  • Emissions
  • Health and Safety
  • Diversity, Equity and Inclusion
  • CSR and Local Communities
  • Energy Management

Medium Impact Material Issues

Strategy: Adapt and Anticipate

Approach: The Company shall prepare through effective anticipation of future risks and opportunities for management of medium impact material issues

  • Materials
  • Talent Attraction and Retention
  • Supply Chain Management
  • Risk Management
  • Compliance
  • Marketing and Communications
  • Customer Safety and Product Quality
  • Economic Performance
  • Cyber Security and Digitisation
  • Market Presence

Low Impact Material Issues

Strategy: Comply

Approach: The Company will ensure strict compliance against the low impact material issues

  • Business Ethics and Values
  • Corporate Governance
  • Human Capital Development
  • Biodiversity
  • Waste Management
  • Water and Effluents Management
  • Human Rights and Labour Conditions
  • Public Policy Advocacy

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INTEGRATED ANNUAL REPORT 2022-23

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