Materiality Analysis and Stakeholder Engagement

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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.

Sustainability Issues Stakeholders and boundary
Internal External
1. Climate change and plague Associate Farmers
Government and NGOs
2. Farmer Development Farmers
Government and NGOs
3. Supply Chain Management Farmers
Partner and Supplier
4. Good Corporate Governance Associate Farmers
Partner and Supplier
Shareholder and Investor
Sustainability Issues Stakeholders and boundary
Internal External
5. Social and Community Development Associate Community
6. Water Management Associate Community
7. Waste Management Associate Community
8. Safety and Occupational Health Associate Community
9. Performance of Machine and Production Process Associate Partner and Supplier
Sustainability Issues Stakeholders and boundary
Internal External
10. Human Resource Development Associate  
11. Anti-Corruption Associate Partner and Supplier
Shareholder and Investor
12. Human Rights and Labor Laws Associate Government and NGOs
Sustainability Issues Stakeholders and boundary
Internal External
13. Innovation Partner and Supplier
Customer and Consumer
Shareholder and Investor
14. Quality and food safety Partner and Supplier
Customer and Consumer
Shareholder and Investor
15. Brand trust Partner and Supplier
Customer and Consumer
Shareholder and Investor
Stakeholder Engagement
Participatory Channels
  1. Thai Wah Farmers Network
  2. Farmer Development Initiative
  3. Mobile Application
  4. Thank You Farmer Day
Needs or Expectations Issues
  • Better Farmers’ Quality of Life
  • Technology And Innovation for Farmers
Company Responses
  • Organizing Farmer Training Programs to Improve Their Farm Management, Entrepreneurship, And Cultivation Skills
  • Conducting All Transactions at A Reasonable Market Rate
  • Supplying Farming Equipment to Increase Convenience, Reduce Reliability on Labor, And Save Time
  • Deploying The Agronomist Teams Regionally to Partner With Farmers As Trusted Advisors

See More Details At The Chapter “Farmers Development” And “Green Factory and Community”

Participatory Channels
  1. Partner Meeting
  2. Partner Visiting
  3. Social Media Channels, Such as Website, Facebook, Youtube, Linkin, And Line@
  4. Webinar
Needs or Expectations Issues
  • Better Partners’ Quality of Life
  • Sales Promotions and Marketing Initiatives
  • Food Quality and Safety
  • Good Corporate Governance
Company Responses
  • Organizing Training Programs for Business Partners to Increase Sales
  • Developing A Variety of Products To Meet The Market Needs
  • Developing Sales Promotions and Marketing Initiatives To Meet The Market Needs

See More Details at The Chapter “Food and Finished Goods”

Participatory Channels
  1. Customer Satisfaction Survey
  2. Customer Complaint Center
  3. Social Media Channels, Such As Website, Facebook, Youtube, Linkin, And Line@
Needs or Expectations Issues
  • Access To Healthy Food And Good Nutrition
  • Food Quality And Safety
  • Food Innovation
  • Responsible Marketing And Clear Labeling
  • Clarity And Progress In Driving The Organization Towards Sustainability
Company Responses
  • Building awareness and understanding of nutrition and functional ingredients with consumers
  • Increasing communication channels for sales promotions, for both online and offline
  • Developing products that comply with global food quality and safety standards
  • Offering alternative healthy products
  • Developing sales promotions and marketing initiatives that meet the global customer demands

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

Participatory Channels
  1. Associate Engagement Survey
  2. Intranet and E-Newsletter, Mobile Application, TW Wander Newsletter
  3. Human Relations in Organization
  4. CEO Town Hall
  5. Annual Performance Review
Needs or Expectations Issues
  • Safety and Occupational Health
  • Career Path Development Program
  • Payment, Benefit and Welfare
  • Associate Engagement
Company Responses
  • Developing the Performance Management System (PMS) to assess associates’ performance in order to identify areas for improvement and formulate feasible plans for those improvements
  • Improving the system for evaluating work behaviors so that it is compatible with current practice
  • Developing the Thai Wah Leadership Academy (TLA) and organizing training programs for associates at all levels

See More Details At The Chapter “Green Factory and Community“ and “Family and Well-Being”

Participatory Channels
  1. Community Relations Activities
  2. Complaint Center
  3. Community visiting
Needs or Expectations Issues
  • Job Creation and Community Economic Development
  • Reducing The Environmental Impact to The Community
Company Responses
  • Organizing projects, such as basic health check, to improve the communities' health and quality of life
  • Developing projects to raise awareness and inspire young generations to love agriculture
  • Establishing clear policies for energy and waste management

See more details at the chapter “Green Factory and Community”

Participatory Channels
  1. Annual General Meeting (AGM)
  2. Analyst Meeting
  3. Opportunity Day / Roadshow Via Online Platforms
  4. Exclusive Interview
  5. Company Website, Email, And Telephone Number
Needs or Expectations Issues
  • Good Corporate Governance
  • Transparent, Accurate and Timely Information Disclosure
  • Progress Towards Sustainability
Company Responses
  • Implementing good corporate governance principles
  • Ensuring that shareholders are treated with transparency and equity
  • Establishing clear guidelines to disclosure of information on risk management strategies to stakeholders and investors

See more details at the chapter “Good Corporate Governance”

Participatory Channels
  1. Annual Report And Sustainability Report
  2. Collaborations And Projects On Relevant Issues
  3. Participation In Relevant Events
Needs or Expectations Issues
  • Compliance With Relevant Laws And Regulations
  • Good Corporate Governance
Company Responses
  • Operating business in accordance with relevant laws and regulations
  • Supporting government projects on relevant issues
  • Disclosing information on greenhouse gas emissions and developing efficient solution strategies

See more details at the chapter “Good Corporate Governance”