PTT’s materiality assessment process is conducted in accordance to the Global Reporting Initiative (GRI)'s Sustainability Reporting Standard and the International Integrated Reporting Council (IIRC), to identify economic, environmental, social, and stakeholders’ issues that have potential impacts on the organization’s business operations and significant influence in stakeholders’ decision-making.
The materiality assessment is undertaken annually in order to review any changes in the issues that are important to the organization and its stakeholders.
Materiality Assessment Process
The process includes identifying issues, prioritizing material issues, verifying the findings. Details of the process are summarized as follows:
Issue Identification for Organization and Stakeholders: Material sustainability issues are considered and identified in collaboration with relevant functions in the organization. Issues are selected based on alignment with corporate risks, strategic direction and sustainability management, and stakeholders’ expectations.
Issue Prioritization: The identified issues are screened to assess their level of significance from opportunity and impact to business, stakeholder interests and impacts, including value creation for stakeholders.
Verification and Assurance: The PTT Group Sustainability Alignment Committee (SAC) is responsible for monitoring and verifying the report development process by reviewing results of the materiality assessment and report content, and approving the content for disclosure to ensure the report’s completeness, balance, and coverage. The SAC further provides comments and suggestions on specific issues that should be reported depending on relevant stakeholder interests, such as current issues and global reporting trends. External parties are engaged to verify the materiality assessment process, stakeholder engagement process, data collection and analysis, and the organization’s performance against indicators to confirm completeness, accuracy, reliability and transparency of the report. For continuous improvement, PTT takes into consideration observations and recommendations from relevant external parties to improve the quality of the report.
PTT Corporate Sustainability Report: Download Here
PTT Materiality Assessment Matrix
PTT has managed important issues through strategies and operational plans of relevant departments in a concrete manner. In 2018, the top three material issues are Sustainable Governance, Climate Change, and Research & Development and Innovation. For more information, please visit the following topics.