Identification and Response to Material Sustainability Issues
Cathay FHC conducted the CS Issue Materiality Analysis in 2019, and the process for identifying material sustainability issues is described below.
1. Collect information and identify issues
Identify issues that stakeholders are concerned about, and analyze global regulations on CSR disclosures, benchmark companies in the industry, international trend reports, and Cathay FHC's vision for sustainability and organizational development goals.
2. Identify potential issues
Find 9 economic issues, 3 environmental issues, and 8 social issues related to Cathay.
3. Understand the materiality of issues
Issued materiality analysis questionnaires in 2017 to survey the level of concern about sustainability issues among 155 stakeholders, and 15 senior executives each year determined the impact of sustainability issues on operations.
4. Prioritize issues
Take stakeholders' opinions into consideration when ranking the material issues by level of concern and analyzing their impact.
5. Adjust the priority of issues
Senior executives and the sustainability team discuss results of the materiality analysis.
6. Draw the matrix
Generate the 2019 Material Issue Matrix.
7. Set sustainability goals
Set short-term, mid-term, and long-term goals for material issues, and actively manage and track the goals to respond to stakeholders’ expectations.
Cathay FHC 2019 Material Topic Matrix
Description of changes in material issues in 2019:
Note 1: “Human Rights” and “Employee Diversity/ Inclusion” were merged into “Human Rights and Employee Diversity” with consideration to the contents and overlap between the issues, so the
number of material issues in 2019 decreased by 1 compared to 2018.
Note 2: “Green Finance” was included as a material issue and “Loss Control” and “Attracting and Retaining Talents” were excluded.