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Identification of Stakeholder

Identifying Stakeholders

Step 1: Identifying Stakeholders

The ESG Task Force members conduct six-factor stakeholder positioning tests (i.e., responsibility, influence, closeness, reliability, representation, policy and strategic intent) to identify stakeholders who are relevant and will be in close contact with business of the ESG Task Force members. Based on the identification results, there are 7 categories of stakeholders this year, including: Employees, investors, customers, suppliers, competent authorities, media and communities.

Step 2: Collecting Concerned Topics

  1. Selection Criteria
    In order to precisely grasp the subject matter of interest to stakeholders, the Bank refers to the 2021 edition of GRI Universal Standard 1 Reporting Principles — Sustainability Context and Completeness, and GRI Universal Standard 3 Reporting Principles — Materiality, Stakeholder Inclusiveness, and Multiple Consideration of the Importance of the Subject Matter of Concern to Different Stakeholders and its Basis of Measurement and Value. As a result, the Bank first divides the material topics into 5 aspects: corporate governance, responsible finance, employee care, social inclusion, and sustainable environment, the Bank collects topics of each aspect and performs preliminary screening of material topics. Secondly, the ESG Task Force members prioritize among these aspects, which will ultimately determine the scope of material topics for the Bank to respond to. Therefore, the Bank can assure the responses cover the interests of all stakeholders, avoid evaluating the subject matter at different aspects of combined attributes, which may cause regrets failing to respond to some stakeholders' concerned topics.
  2. Identifying Topics
    The ESG Task Force members follow the above-mentioned screening principles of the material topics, observe the material concerned topics by domestic financial industry, the international sustainable development trends (such as the 17 SDGs proposed by the UN), and fill in the questionnaire based on practical experiences relevant to their duties, with a total of 48 concerned topics. The above-mentioned 5 aspects are summarized into 3 major aspects: E (Environmental), S (Social), and G (Corporate Governance), with a total of 27 concerned topics for convenient reading of stakeholders, as shown in the diagram below.

    Concerned Topics from 3 Major Aspects

Step 3: Making Materiality Analysis Matrix

After ESG Task Force has completed the collection of topics of interest to various stakeholders, the task force will carry out a materiality assessment of the above 27 topics of interest collected, conduct risk assessment according to frequency and severity of occurrence considering the "degree of interest in the subject matter" and the "degree of impact of the subject matter on the Bank's operations", and give a score for each subject matter; the total score of each topic is weighted, transformed and classified to arrive at the final total score. They are classified into high-level concern, key point of concern and continuous concern. The 27 material topics of the Bank are described as in the matrix below.

Materiality Issue Matrix

Step 4: Classifying and Responding to Topics

The Bank responds to the top 14 topics with the highest final scores from the 3 major aspects, i.e., “governance,” “social” and “environmental,” and further classifies the above-mentioned 14 topics into 2 categories: priority of high-level concerned and general high-level concerned. Among them, the 11 priority of high-level concerned topics are listed as the disclosure of related management approaches and performances.

Classifying High-level Concerned Topics


Description of the Differences/Adjustments Between 2020 and 2021 Material Topics:

Description of the Differences/Adjustments Between 2019 and 2020 Material Topics