Introduction Our business SwireTHRIVE About our report Other ESG disclosures Appendices Overview AAsssseesssisinngg m matateerriaiallitityy Stakeholder engagement ABOUT OUR REPORT Assessing materiality The coverage of our annual sustainable In-depth assessment materiality and impact materiality. The development report is determined by We regularly review our materiality topics approach determines topics that positively reference to a detailed GRI-aligned and conduct an in-depth assessment or negatively in昀氀uence enterprise value materiality assessment. The assessment every two years. In 2021, we conducted (昀椀nancial materiality), as well as those identi昀椀es and evaluates the sustainability a comprehensive materiality assessment that re昀氀ect the impacts we have on issues most important to our businesses that applied the concept of double the economy, environment, and people and stakeholders, for the year under (impact materiality). review, at the time of the assessment, and materiality, which considers both 昀椀nancial in the near future. Information on economic value creation at the Financial level of the reporting company for the benefit of materiality investors (shareholders). Double materiality Information on the reporting company’s impact on the economy, environment Impact and people for the benefit of multiple materiality stakeholders, such as investors, employees, customers, suppliers and local communities. Source: GRI. (2022) Our double materiality assessment had three phases: 1 Identi昀椀cation 2 Prioritisation 3 Validation A list of potential material An external consultancy vulnerability to the impacts of Results were validated issues was produced conducted one-on-one each topic, taking account of by the those with with reference to the GRI interviews and focus group the level of controls in place management Standards, sustainability discussions with our internal to manage the impacts, our responsibilities for ratings questionnaires, the and external stakeholders. readiness to respond and the sustainable development, sustainability reports of Members of management degree to which we can control risk management, 昀椀nance, our operating companies were asked to determine the impacts. public a昀昀airs, and sta昀昀 and global sustainability the actual or potential Our business partners, matters (see materiality goals and priorities. impact of each topic on the investors, peer companies and matrix). Topics in the Group’s enterprise value civil society representatives top right quadrant are using the six areas of our were engaged to evaluate considered material and enterprise risk management the severity and likelihood should be managed and reported on. framework (昀椀nancial, of the Group’s positive and disruption, reputation, negative impacts for each topic, regulatory, human and considering scale, scope and strategic). They were also whether impacts are reversible. asked to consider the Group’s SWIRE PACIFIC — SUSTAINABLE DEVELOPMENT REPORT 2022 — 70