Materiality & Stakeholders
The Process of Materiality Analysis
According to the GRI3: Material Topics of GRI Universal Standards 2021, HIWIN has collaborated with the Value Balancing Alliance (VBA), the Harvard Business School’s“Impact-Weighted Accounts” research project, the London Benchmarking Group (LBG), and other institutions to develop methodologies for assessing economic, environmental, and social impacts. These methodologies have been used to establish a materiality analysis process based on impact. The purpose of this process is to identify the material topics for HIWIN, define the boundaries and scope for sustainability disclosure, and serve as the foundation for setting long-term sustainable goals. After internal discussions and considering there are no significant changes in the company’s operations and industry environment, the material topics for Year 2023 will follow the identification results of Year 2022.
Stage 1: Identify communication objects and topics
In Stage 1 of this process, the communication objects and topics for the sustainability report were identified. The AA1000 Stakeholder Engagement Standards (SES) principles of Dependence, Responsibility, Attention, Influence, and Multiple Perspectives were used as a reference. Through open discussions, the ESG committee members identified five types of stakeholders-employees, customers, suppliers/contractors, investors, and social groups - and ranked them based on their relationship with the company.
In line with the updated GRI Universal Standards 2021, as well as considering the UN Sustainable Development Goals (SDGs), international trends, and recommendations from external consultants, HIWIN has reevaluated and adjusted its ESG issues. After thorough discussions, a total of 23 ESG issues were identified as relevant to HIWIN’s operations.
Stage 2: Analysis of material topics
Stage 3: Identify and disclose material topics
Based on the materiality analysis results, HIWIN has identified 10 ESG topics as its major issues, which have been confirmed by internal senior executives and the president. Furthermore, each significant ESG issue has been carefully examined to assess its impact across the upstream, company operations, and downstream boundaries of HIWIN’s value chain. In accordance with the reporting requirements of the GRI guidelines, relevant internal information, data, and management policies will be collected and disclosed.
Stakeholder Communication Channels