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Material Sustainability Matters

Masteel conducted the materiality assessment in FY2020. As a result, we revised the material sustainability matters (“MSM”) from 21 MSM in FY2020 to 15 MSM in FY2021 to reflect our focus areas in achieving our sustainable goals. As for FY2022, we conducted a reassessment via an online survey and concluded that the 15 MSM for FY2021 is still a critical matter for FY2022.

The reassessment results were analysed and disclosed in this section to portray the importance of each material matter from the stakeholder’s perspective toward our business growth. This will enable us to better analysed and manage our sustainability risks and opportunities in the years to come. The illustration below represents the four assessment steps: identification, assessment, prioritisation and validation.

The methodology of the materiality assessment process is summarised below: