Material Topics Management

Material Topics Management

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Material Topics Management

Material Topics Management

 

In 2022, we followed the GRI Universal Standards 2021: GRI 3: Material Topics 2021 and readjusted the assessment process of material topics. The assessment principle was changed to “the actual or potential level of impact of the economic activities of the Company on external economy, environment, and people (human rights). In addition, “the level of possible impact on the sustainable management of the Company” was also assessed to respond to the Double Materiality proposed by the EU to enable the stakeholders and readers to better understand the substantial external and internal impact Shih Wei Navigation causes in the process of economic activities.

Material Topics Analysis

 
Step 1
 

Understand the organization’s context
  1. Identification of stakeholders (communication objects), Please refer Stakeholder Engagement for details
  2. Assessment of the activities and business relationship of all entities Shih Wei Navigation controls or has interests in

7 Stakeholdes
Step 2
 

Identify actual and potential impacts
  1. Collection of sustainability topics
    By referring to the international sustainability standards and related guidelines and norms (GRI guidelines, SASB, SDGs), sustainability rankings at home and abroad (TCSA, CSA), and cases in the same trade, more than 40 sustainability topics were collected, and the editorial team summarized them an listed a total of 25 sustainability topics.
  2. Analysis of business impact
    Corporation Rules Governing the Preparation and Filing of Sustainability Reports by TWSE Listed Companies, issues of stakeholders’ concern, industrial norms and standards, and advice from sustainability consultants are all referred to for the assessment of business impact.

40 Sustainability Topics
Step 3
 

Assess the significance of the impacts

 Assessment of double materiality of sustainability topics
The management team consists of 24 members, including the Chairwoman , 8 high-level executives and representatives from all units and departments to express the Company’s emphasis on sustainability topics. Preliminary scoring is conducted based on the Impact Assessment Form for Sustainability Topics.

24 mid to senior-level executives Participation
Step 4
 

Prioritize the most significant impacts for reporting
  1. Prioritization of the material topics
    When the results are released, material topics are then determined in accordance with the significance of the impacts, business strategies, and level of stakeholders’ concern.
  2. Determine material topics to be covered
    The management team determines the material topics to be covered and conducts inspection in accordance with the requirements of reporting topics.
  3. Determine the content to be covered for each material topic
    Refer to the GRI standards and guidelines to determine what to report on each material topic.

8 Material Topics

List of Material Topics

 

Regarding the assessment of the significance of impacts related to sustainability issues, please refer to our company's Sustainability Report for details.。

 
Material Topics Significance to Shih Wei Navigation Corresponding Sustainability Standards
Economic Performance To ensure the sustainable management of the Company, replenish working capital and improve the financial structure, Shih Wei Navigation pursues steady growth and operational profitability while creating higher value for its shareholders to enhance investors’ trust.
  • TWSE- Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies
  • TWSE- Sustainable Development Best Practice Principles for TWSE/TPEx Listed Companies
Climate Change Management Climate change management is getting more important to business operations for an enterprise. In the face of the requirement for carbon reduction in the market environment and the gradual regulatory restrictions at home and abroad, both positive and negative impacts will be brought to the economy and the environment.
  • Task Force on Climate-Related Financial Disclosures (TCFD)
  • TWSE- Dedicated Chapter for Climate-related Disclosures (Appendix II)
  • S&P S&P Global CSA Transportation and Transportation Infrastructure- Climate Strategy, Operational Eco-efficiency
Ship Safety Ship Safety is crucial to the operation of the Company. Any occurrence of marine accident may affect the Company’s profit and directly or indirectly cause personal safety risk for sea crews. In addition, the ships are subject to relevant safety and equipment supervision requirements of the port state or competent authorities to ensure the safety of the navigation of ships. SASB Marine Transportation- Accident and Safety Management
Sustainable Development Strategy The stakeholders are paying more and more attention to the Company’s sustainable development strategies. To ensure effective connection between the sustainable development strategies and the operational goals, Shih Wei Navigation will make stepwise plans as well as adjust and revise various sustainability goals to align with international standards. TWSE- Sustainable Development Best Practice Principles for TWSE/TPEx Listed Companies
GHG Emissions and Energy Regulations governing GHG and air pollutant emission are closely related to environmental protection and compliance. Responsible emission management can effectively reduce the cost risk and improve the competitiveness of products and services in sustainable topics.
  • SASB Transportation- GHG Emissions, Air Pollution
  • MSCI Ocean Shipping- Carbon Emissions
Human Rights Management Shih Wei Navigation complies with international conventions, attaches importance to human rights, and ensures that there will not be discrimination or unequal treatment due to race, nationality, gender, sexual orientation, etc.
  • Universal Declaration of Human Rights (UDHR)
  • The United Nations Global Compact (UNGC)
  • United Nations Guiding Principles on Business and Human Rights
  • ILO Declaration on Fundamental Principles and Rights at Work
  • Maritime Labour Convention (MLC)
Occupational Safety and Health Shih Wei Navigation has been implementing the safety policies of maintaining safety of lives, safety of ships, safety of cargos, and safety of environments. We regard safety of lives as the primary safety goal and comply with all safety regulations to ensure the safety and health of our associates.
  • SDG 8.8: Protect Labour Rights and Promote Safe Working Environments
  • SASB Marine Transportation- Employee Health and Safety
  • MSCI Ocean Shipping- Health & Safety
  • S&P S&P Global CSA Transportation and Transportation Infrastructure
Social Engagement To implement corporate social responsibility with the spirit of “achieving common good”, Shih Wei Navigation believes that corporate engagement in public welfare is an important channel for the promotion of the sustainable development of a society. We hope to build multiple partnerships through public welfare programs. SDGs 17.17: Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships.
 
  • Please refer to our company's Sustainability Report for the corresponding GRI Standards for each Material Topics.