TTA Group’s SustainabilityMateriality Assessment (2-14,3-1)
To address key challenges affecting sustainable development, the Group places great importance on managing material issues that align with the interests of both the Group and its stakeholders, or where improved performance is anticipated. This approach enables the Group to set goals and strategies, as well as to effectively monitor and report on the progress of each material topic. The Group has conducted an assessment to review any significant changes in sustainability issues, ensuring alignment with its strategies, stakeholder expectations, and the sustainability reporting standards of the Global Reporting Initiative (GRI). This assessment aims to reflect material issues that impact the Group's environmental, social, governance, and economic (ESG) performance, as well as influence stakeholder evaluations and decision-making across the entire business value chain. The materiality assessment results have been reported to and approved by the Board of Directors and consist of 4 key steps, as detailed below.
| 1. Materiality Identification | 2. Materiality Prioritization |
|---|---|
| The Group considers both positive and negative impacts, as well as the expectations and opinions of relevant stakeholders. Additionally, it conducts studies, reviews, and analyses of material topics related to its business. This assessment covers environmental, social, governance, and economic aspects, considering sustainability standards, requirements, and best practices. It also includes an analysis of trends and key issues prioritized by companies in the same industry to ensure alignment with the Group's sustainability efforts throughout the value chain. | The Group assesses the prioritization of material topics as part of the process for identifying key issues in accordance with the Global Reporting Initiative (GRI) standards. This evaluation considers two key perspectives: 1) opportunities and impacts on the Group's value creation, and 2) the level of interest, viewpoints, impact, and significance placed on these issues by stakeholders. The Group conducted an analysis of these perspectives through an online survey involving nine stakeholder groups, using the results to rank the priorities of material sustainability issues. |
| 3. Materiality Validation | 4. Materiality Review |
| After the prioritization of material topics has been assessed, the identified topics are presented to the Sustainable Development Working Group and Sustainable Development Committee for review, ensuring alignment with the company's goals, strategies, and accuracy. The issues are then submitted to the Board of Directors for further review, considering their significance to the Group and both internal and external stakeholders. Upon approval, these issues will be disclosed accordingly. | The Group continuously monitors the management of material topics and regularly discloses performance related to key sustainability issues to ensure sustainable operations and development across the organization. This process aligns with reporting guidelines and standards. Additionally, the Group tracks the management of each material topic, covering its current operations, and presents findings to the Sustainable Development Committee and the Board of Directors on an ongoing basis. This enables periodic review and improvement of material topics to ensure their relevance to the Group's evolving business. |
TTA Material Matrix
The Group has identified 14 key material topics, covering three dimensions: environmental, social, and governance & economic aspects. These topics serve as a framework for managing the Group's sustainability efforts and developing a comprehensive approach to sustainability management. The Group has prioritized these key sustainability topics, and the resulting levels of importance for each topic are shown as follows:
| Environment Dimension | Social Dimension | Governance and Economic Dimension |
|---|---|---|
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The Group's assessment of sustainability materiality has provided a framework for shaping its sustainability strategy for 2024. This ensures that company operations align with the identified material topics. Additionally, the Group has summarized its sustainability initiatives, organized according to these material topics, for inclusion in the Form 56-1 One Report and the Sustainability Report. The disclosure of sustainability performance facilitates continuous review and improvement of its approach to sustainability materiality, serving as a key mechanism for driving the Group's sustainability efforts.
Reporting Principles
This sustainability report covers data for the period from 1 January to 31 December 2024, and provides an overview of the Group's performance. The Group aligns its reporting with the Sustainable Development Goals (SDGs) and references the Global Reporting Initiative (GRI) standards. Additionally, it discloses information required by the SET ESG Ratings, Thailand's stock exchange sustainability assessment.
To ensure completeness and accuracy, the content of this report is thoroughly reviewed to create value for all stakeholders. The sustainability-related business activities reported undergo verification and receive recommendations from senior executives, the Sustainable Development Committee, and the Board of Directors. Furthermore, stakeholders are encouraged to provide feedback, inquiries, or suggestions. The company will consolidate these inputs to enhance the transparency and effectiveness of future sustainability disclosures.
Communication Channel
Company Secretary Office
Thoresen Thai Agencies Public Company Limited,
26/26-27 Orakarn Building, 7th Floor, Soi Chidlom
Ploenchit Road, Lumpinee, Pathumwan,
Bangkok 10330
Telephone : +66 (0) 2250-0569
Email : COR@thoresen.com