Materiality Analysis and Stakeholder Engagement

  1. SD Home
  2. SD Journey By Thai Wah
  3. Materiality Analysis and Stakeholder Engagement
Materiality Analysis and Stakeholder Engagement

To ensure continuous and up-to-date improvement in its sustainability performance, Thai Wah has developed a thorough and comprehensive process for conducting sustainability materiality analysis according to the GRI standards. It starts off with understanding our organization’s context by collaborating with stakeholders to analyze internal and external factors from economic, social, and environmental perspectives, followed by identifying the actual and potential sustainability issues and assessing the significance of the impacts, and culminates in prioritizing the most significant sustainability risks and communicating the results to stakeholders in order to ensure their inclusiveness throughout the process. The results of our sustainability materiality analysis are also used to develop response plans to address the most significant risks accordingly, monitor their progress and take corrective action as needed.

Thai Wah Sustainability Framework Sustainability Materiality Topics SDGs
Good Corporate Governance Good Corporate Governance
Anti-Corruption
Supply Chain Traceability and Sustainable Procurement
Technology Adaptation
Farmer Development Soil Health
Biodiversity
Pesticide Use
Economic Inclusion
Green Factory and Community Climate adaptation and resilience
Greenhouse Gas Emission 
Water Management
Waste Management
Safety and Occupational Health 
Local Community
Family and Well-being Human Resources Development
Human right and labor practices
Food and Finished Goods Food security
Product safety and quality
Stakeholder Engagement
Engagement Channels
  1. Field visits by Thai Wah’s agronomists
  2. Farmer sustainability and regenerative agriculture development program
  3. Thank You Farmer Day
Examples of Expectations
  • Improved quality of life, job creation, income generation, and economic promotion
  • Fair and transparent raw material purchasing
  • Promoting and supporting sustainable and safe agricultural practices
  • Providing knowledge on agricultural technology and innovation, as well as developing efficient waste management systems
Examples of Company Responses
  • Organizing training programs for farmers to develop management, business, and farming skills
  • Providing agricultural equipment to increase convenience, reduce labor dependency, and save time
  • Deploying agronomists to work closely with farmers in the field
  • Supplying clean cassava stems to farmers

See more details in the chapter “Farmer Development”

Engagement Channels
  1. Annual customer satisfaction surveys
  2. Communication via email and online meetings
  3. Customer visits on various occasions
  4. Contact channels and information on the website and social media (Facebook, YouTube, LinkedIn, Line@)
Examples of Expectations
  • Quality and food safety control
  • Access to healthy and nutritious food
  • Promoting food innovation and diversity, responsible marketing, and clear labeling
  • Clarity and progress in driving the organization towards sustainability
  • Sales and after-sales services that meet the needs of customers and consumers
Examples of Company Responses
  • Raising awareness and understanding of nutrition and ingredients
  • Increasing contact channels to promote sales both online and offline
  • Developing products that meet global quality and safety standards
  • Offering a variety of healthy product options
  • Developing marketing campaigns that meet global market needs
  • Developing products and services to meet the needs of customers and consumers

See more details in the chapter “Food and Finished Goods”

Engagement Channels
  1. Communication via website and email
  2. Supplier visits and evaluations
Examples of Expectations
  • Activities to promote the potential of small suppliers
  • Fair, transparent, and legal procurement, respecting payment terms
Examples of Company Responses
  • Considering environmental impact, social responsibility, and governance in procurement, and adhering to human rights principles
  • Maintaining good relationships with suppliers and partners, continuously enhancing and developing together

See more details in the chapter “Food and Finished Goods”

Engagement Channels
  1. Bi-annual employee engagement surveys (AES)
  2. Town hall meetings
  3. Annual performance reviews
  4. Satisfaction surveys for all activities organized internally
  5. "My Thai Wah" application
  6. "SHE" application
Examples of Expectations
  • Promoting skill development, potential, and career paths
  • Providing compensation, special rewards, and benefits
  • Responding to employee feedback and participation
  • Ensuring workplace safety and occupational health
Examples of Company Responses
  • Conducting employee engagement surveys (AES)
  • Developing a Performance Management System (PMS)
  • Onboarding programs for new employees, Thai Wah Leadership Academy (TLA)
  • Interest-based capacity development programs
  • Developing employee welfare management systems (TPA Care)
  • Responding to unsafe conditions or accidents through the "SHE" application

See more details in the chapter “Family and Well-being”

Engagement Channels
  1. Community relations activities (Thai Wah Care and Community Day)
  2. Grievance channels
  3. Community development projects with the government
Examples of Expectations
  • Job creation and community economic development
  • Managing and controlling operations to reduce environmental, community, and social impacts
  • Business growth alongside community development
Examples of Company Responses
  • Energy and waste management to reduce community and environmental impacts
  • Communicating with communities through community leaders and other communication channels
  • Organizing annual community relations activities
  • Participating in community development projects with the government

See more details in the chapter “Farmer Development” and “Green Factory and Community”

Engagement Channels
  1. Annual General Meeting (AGM)
  2. Analyst meetings
  3. Communication via Opp Day
  4. Special interviews
  5. Website, email, and phone
  6. Annual report (56-1 One Report) and sustainability report
Examples of Expectations
  • Good corporate governance
  • Anti-corruption
  • Transparent, accurate, and timely information disclosure
  • Sustainability operations and progress
Examples of Company Responses
  • Adhering to good corporate governance principles
  • Ensuring transparent and equal treatment of shareholders
  • Establishing clear guidelines for disclosing risk management strategies to stakeholders and investors

See more details in the chapter “Good Corporate Governance”

Engagement Channels
  1. Annual report (56-1 One Report) and sustainability report
  2. Collaboration and projects on relevant issues with the government and/or private sector
  3. Participation in relevant events
Examples of Expectations
  • Compliance with laws and regulations
  • Good corporate governance
  • Anti-corruption
Examples of Company Responses
  • Conducting business in accordance with relevant laws and regulations
  • Supporting government projects on relevant issues
  • Disclosing information on greenhouse gas emissions and developing effective mitigation strategies
  • Supporting and/or initiating projects to enhance the capacity of the agri-food industry, such as SEA, GROW, World Economic Forum, UNGCNT

See more details in the chapter “Sustainability at Thai Wah” and “Good Corporate Governance”