Material Issue Identification Approach on Sustainability

1. Critical Issue Identification

CPN conducted material issue identification on sustainability, together with risks and opportunities, through the following analyses:

  • Challenges from external factors such as global trends, changes in consumers’ behavior, competition in market, as well as challenges from internal factors, such as performance, weakness, strength, and risk indicators at the organization level
  • Significant issues derived from comments and suggestions, as well as participation of five main stakeholders, namely customers, tenants, business partners, employees, and communities via channels of opinion surveys, focus groups, meetings, official and unofficial discussions
  • Implementation guidelines of sustainability development according to international standards, such as UN SDGs Guidelines, UNGC, Dow Jones Sustainability Assessment Criteria, Committee of Sponsoring Organizations of the Treadway Commission (COSO), Global Reporting Initiative (GRI STANDARDS), Corporate Governance Report of Thai Listed Companies (CGR), Thai Institute of Directors (IOD), Stock Exchange of Thailand (SET), and ESG from domestic and foreign financial and investment institutions.

2. Evaluation

The Division of Excellence and Sustainable Development analyzed and assessed the importance of sustainability, risks, and opportunities by implementing the following:

  • Focus groups with departments directly involved with stakeholders, such as customer relations, tenant relations, and community relations to examine the levels of impacts and review the levels of importance from stakeholders’ perspectives, based on secondary information.
  • Meetings with direct representatives of some groups of stakeholders, such as meetings with business partners and employees to assess the impacts and importance of related sustainability issues from direct stakeholders’ perspectives, based on primary information.
  • Analysis of issues related to other groups of stakeholders, such as creditors, competitors, shareholders, and investors through analyses, discussions and assessment of issues given by top executives in formulating the Company’s strategic plans.
  • Assessment of the severity and likelihood of impacts through surveys by the Risk

3. Prioritization

The Risk Policy Committee and the Corporate Governance and Sustainable Development Committee met to review the completeness and prioritize the issues, to approve and confirm nine sustainable issues, risks, and significant opportunities in 2017 to be used as compositions in formulating the organizational strategies toward sustainability and the organizational risk management strategies.

4. Review and Report

CPN monitored and analyzed performance according to the organizational strategies toward sustainability and risk management and reported to the Corporate Governance and Sustainable Development Committee and the Risk Policy Committee. These panels reviewed prioritization of importance and impacts of those issues closely and continuously, with some issues retaining the importance, while others were added to align with fast-changing situations in the world. They also approved information disclosure according to international criteria.