SCBX Group’s path towards sustainability starts from
the analysis of economic, social and environmental ‘impacts’
from our business activities, to identify the direct and indirect, negative and positive aspects in the short and long terms. The materiality assessment process of SCBX Group in 2024 was conducted in accordance with the Global Reporting Initiative (GRI) Standards and integrated the Double Materiality concept proposed by The European Commission.
The assessment of materiality issues under the Double Materiality method does not only consider the ‘impact’ of SCBX’s business activities on the environment and society (‘Inside-Out’ or ‘Impact Materiality’) but also considers the ‘impact’ of material sustainability issues on the financial dimension of SCBX Group (‘Outside-In’ or ‘Financial Materiality’). This approach helps the company gain an overview of both financial and non-financial risks, increases transparency and accountability, and responds to the interests of investors, customers, and stakeholders who prioritize Environmental, Social, and Governance (ESG) issues. In 2024, SCBX was able to identify a total of 15 material sustainability issues, with 2 new issues additionally proposed from the assessment and review results in 2022 and 2023.
The Board of Directors has considered and approved the material sustainability issues, and SCBX is in the process of reviewing and developing a sustainability strategic framework that is in line with the results of the latest assessment of material issues, while moving forward to drive sustainability with full efficiency and effectiveness throughout the SCBX Group
Double Materiality Assessment Process
Analyse sustainability issues along the value chain, together with the analysis of changes in key trends and peer industries
Analyze important issues for internal and external stakeholders, including customers, employees, regulators, investors, business partners, trading partners, and civil society, covering the impacts that have occurred and that may occur, positive and negative impacts, including risks and opportunities through stakeholder engagement.
Analyse the alignment with SCBX enterprise risk management framework and SCBX strategic business direction to understand the significance, severity, likelihood, and scale & scope of the impacts, risks, and opportunities
Assess and prioritize sustainability issues by considering both ‘Impact Materiality’ and ‘Financial Materiality’ dimensions, and submit the assessment results for review by experts, comments and approval by the Board of Directors and/or senior management.
Result of ESG Materiality Assessment
Remark:
* The topics sort alphabetically.
Independent Third-party Assurance Provider
To ensure that materiality assessment process is completeness, accurate, and aligns with the Global Reporting Initiative (GRI) standards, as well as the concept of Double Materiality proposed by the European Commission, SCBX engaged with an independent third-party assurance provider to verify the process of materiality assessment.
Impact Valuation
Impact valuation helps businesses understand and manage their impacts on the well-being of their stakeholders and the environment. This leads to decision-making that creates value for all, not just shareholders. In the era of stakeholder capitalism, this approach is increasingly recognized as a method to drive business value while addressing social and environmental challenges.
For SCBX, impact valuation provides valuable data that aids in developing its strategies to mitigate negative societal and environmental impacts while identifying opportunities for positive outcomes. This approach also enhances the Group’s resilience.
Overview
Policies
Plant Digital Seed
Enriching Lives
Growing Economic Resilience
Reaching Climate Neutrality
Strengthened Foundation
Progress
Report and Disclosures
