MATERIALITY ASSESSMENT

At KBL, a systematic grasp of material aspects fosters improved synchronisation between business strategy, performance management and reporting. A formal materiality assessment helps us identify significant issues that have the greatest impact on our business, communities and the environment and substantively influence our capacity to generate value in the short and long term.

At KBL, we have conducted a materiality assessment survey in accordance with Global Reporting Initiative (GRI) standards during FY 2022-23. The assessment included a comprehensive analysis of key ESG concerns with the potential to impact KBL’s business, environment, society and larger economy.

Through an evaluation of this assessment, we have been able to identify and map the ESG risks and opportunities that represents our organisation’s most significant impacts on the economy, environment and people, including any effect on human rights. Consequently, we were enabled to adopt targeted actions and report significant issues pertinent to the Company and all its stakeholders. The prioritisation process for material issues is summarised below.

Under ESG governance, we have identified goals and commitments against each material issue and our Corporate Sustainability Committee reviews the progress of all such initiatives quarterly. Double materiality assessment shall be conducted in FY 2025-26. Frequency for conducting materiality assessment is once in three years or any significant change in process or operations whichever is earlier.

To understand KBL’s management approach and strategies on materiality assessment in detail, please refer to the Business Responsibility and Sustainability Report (BRSR)