Our materiality assessment process is based on the Global Reporting Initiative (GRI) Standards. Material Topics are reviewed and prioritized annually – by considering the most significant economic, environmental and social impacts to both Minor and our stakeholders.
|1. Identification||Conduct external analysis and internal review to identify global and industry-specific sustainability trends as well as emerging regulations. Multiple references and sources are reviewed to minimize the chance that potentially relevant and emerging issues are overlooked.|
|2. Stakeholder Engagement||Conduct internal and stakeholder engagement to identify material topics. Prior year’s issues are reviewed against new developments and updated based on current context.|
|3. Prioritization||Prioritize material topics based on double materiality concept by considering financial and non-financial impacts. Financial impacts consider both risks and opportunities to the Company and is part of the Company’s Enterprise Risk Management process. Non-financial risks consider impacts both positive and negative to the environment and society where impacts on each group of stakeholders are considered and quantified, where possible.|
|4. Validation||Validate the results of prioritization and present materiality matrix for approval by Sustainability Committee.|
|5. Disclosure||Report management approach and performance of our material issues.|