Identification Process for Material Issues ESG Risk Assessment
Bora identified material issues for discussion by department managers in accordance with the Dependency, Responsibility, Influence, Diverse Perspective, and Tension principles of the AA1000 Stakeholder Engagement Standard (AA1000SES, 2001), and identified four main stakeholders (employees, clients, suppliers/contractors, and investors). We collected stakeholder feedback using surveys containing questions relating to three (environmental, social, and governance) aspects and designed around potential risk categories. Surveys were distributed to various stakeholders and collected responses were weighted and included in analyses for our materiality matrix to determine material issues relating to Bora that could be used as a basis for evaluating and managing ESG risks. Relevant departments were notified of related issues and management guidelines were formulated. Our responses have also been incorporated in the different sections of our Sustainability Report to demonstrate our management of ESG issues.
Material issues at Bora Pharmaceuticals include customer relationship management, product responsibility and safety, ethics and integrity, talent cultivation and happy workplace, information security management, occupational health and safety management, corporate governance, and pollution and waste management; these issues correspond with our operational and businesses focuses, and reflect the concerns and expectations of our stakeholders.
Material Issues and Management Guidelines
In 2021, Bora Pharmaceuticals identified these eight material issues using the aforementioned ESG risk assessment process: