Materiality Analysis Process
Cathay FHC has dedicated years of effort in the field of sustainability, focusing on material issues in which we can create long-term value. We continue to engage stakeholders to understand the issues they are concerned about. Senior executives use their experience to examine the impact of material issues on our core business, in hopes of creating a mutually beneficial situation in which shareholders make profit, customers are satisfied, and employees are committed. Cathay FHC conducted the Materiality Analysis in 2018 and identified material corporate sustainability issues. We set short-term, mid-term, and long-term goals on this basis. The materiality analysis process is as follows:
Step 1: Collect information and identify issues
Analyze global CSR regulations and initiatives, benchmark enterprises in the industry, industry reports issued by institutions with international credibility, and Cathay's vision and goals.
Step 2: Identify potential issues
Find 9 economic issues, 3 environmental issues and 9 social issues.
Step 3: Understand the materiality of issues
Survey the 155 stakeholders' level of concern about sustainability issues via materiality analysis questionnaire, while 15 senior executives determine the impact of sustainability issues on operations.
Step 4: Set the priority of issues
Use academic methods to take stakeholders' opinions into consideration when ranking the material topic by level of concern and analyzing their impact.
Step 5: Adjust the priority of issues
Senior executives and the sustainability team discuss results of the materiality analysis and make adjustments.
Step 6: Generate the matrix
Verify the 11 material topics and generate the Cathay FHC Material Topic Matrix
Cathay FHC 2018 Material Topic Matrix