Identification and Evaluation of Material Issues
The Company identified risk environmental, social and governance risks and opportunities based on the expectations and concerns of all groups of stakeholders involved in its business operations and activities within the value chain, industry trends, sustainability trends, new risks, the world’s trends of significant changes and prioritized material issues through the process of sustainability management development consisting of the identification of material issues and scope of impacts, material issue evaluation and prioritization, material issue and communication and reporting material sustainability issues, as shown below.
Identification of Issues and Scope of Impact
Material sustainability issues that may have a positive or negative impact on the Company’s value creation throughout the value chain were identified, taking into consideration its internal and external contexts in different aspects, for example, industry trends, changing consumer behaviors, economic, technology, environment, politics and all applicable laws related to all groups of stakeholders and its sustainable development goals covering all dimensions of sustainability, economic, social and environmental dimensions, throughout the value chain in parallel with the consideration of the scope of impacts of the material issues on every group of stakeholders, as detailed below.
Evaluation and Prioritization of Material Issues
The Company prioritizes material issues through the evaluation of the importance of economic, social, human rights and environmental impacts on the context of the organization and stakeholders covering the scope of the challenges imposed by the impacts, opportunities, sustainability strategies and goals. Those material issues are prioritized according to their respective opportunities and associated risks by evaluating significant impacts and opportunities that are material to the business of Praram 9 Hospital. In addition, problems considered by the stakeholders as important are classified as low, medium, or high in the Materiality Matrix. The results of evaluation are used in support of decision-making to properly define the sustainability policies, strategies, and plans. The main issue remains that the organization’s strategic plan must be implemented, which is Digital Transformation. In the past year, the Company’s material sustainability issues were as revised and changed as a result of its community engagement, the participation in developing the quality of life of people in society. In addition, the human rights was evaluated as an increasingly important issue due to comprehensive implementation of the Human Rights Due Diligence Likewise the creation of talented employees’ motivation and retention evaluated as an increasingly important issue due to its importance to the Company’s service delivery process.
Validation of Material Issues
The Corporate Governance and Sustainable Development Committee reviewed the information obtained from the representatives of the Company’s stakeholders as well as that of customer criteria, community engagement and the sustainability context covering the economic, social, human rights and environmental dimensions with regard Material Issues Praram 9 Hospital Public Company Limited 61 to risk issues and opportunities that may have an impact on its stakeholders. The Corporate Governance and Sustainable Development Committee presented material sustainability issues that are significant to the Company’s business strategies to the Board of Directors to validate the material issues for sustainability and consider accuracy, appropriateness and approve in accordance with the Company’s sustainable development policy and business context that may change in the future.
Communication and Reporting
The Company integrated its materiality approved by the Board of Directors into the management through developing a strategic plan, setting goals, allocating resources covering short-term, mid-term and long-term plans. The results of the management of its material issues for sustainability are continually disclosed to its stakeholders on Form 56-1 One Report or Praram 9 Hospital’s website. every year. Stakeholders are allowed to provide the information concerning their expectations, concerns as well as opinions on the Company’s annual report via the channels provided for each group of stakeholders, which will be used for developing the material issues for sustainability and will enable the Company’s appropriate response to the expectations of each group of stakeholders.
