Golden Lime Public Company Limited

“A leading producer of lime and mineral processing in Southeast Asia,” delivering maximum value to shareholders and stakeholders. The Company engages in the manufacturing and distribution of its core products: quicklime, or Calcium Oxide (CaO), and hydrated lime, or Calcium Hydroxide (Ca(OH)₂). The Company operates four manufacturing plants located in Lopburi and Saraburi provinces.

Golden Lime Public Company Limited No. 89 Cosmo Office Park, 6th Floor, Unit H, Popular Road, Banmai, Pakkret, Nonthaburi 11120: THAILAND.
02 017 - 7461 - 3

+66 (0) 2017 7461 - 3

info@goldenlime.efinancethai.com

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Identification of important business issues

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The Materiality of Business and Sustainability

Identification of important business issues

SUTHA SUTHA conducts a review of its material sustainability topics by analyzing issues that may generate both positive and negative impacts on internal and external stakeholders. The process for identifying the company’s material topics includes reviewing stakeholder feedback and supporting information from all stakeholder groups, prioritizing sustainability issues, and assigning the Sustainability Development Oversight Committee to approve the material topics before submitting the report to the Board of Directors for acknowledgement.

The Materiality of Business and Sustainability

SUTHA Materiality and Sustainability Risk Analysis

In 2023, SUTHA prepares its sustainability report in reference to the 2021GRI standards (GRI 3: Material Topic). together with the Course S04, (Materiality and Sustainability Risk Analysis), a course sponsored by the Stock Exchange of Thailand then involves the Company sustainability management team and trained personnel, a total of 17 persons.

Defining the Materiality of SUTHA

1. Understand Organization Context

 

Understanding the needs from internal parties brainstorming, including ESG and ERP (ESG and Enterprise Risk Management following COSO ERP 2017) arising from procedural risks within the supply chain

  • Internal context factors Internal context factors from internal parties brainstorming, including ESG and ERP (ESG and Enterprise Risk Management following COSO ERP 2017) arising from procedural risks within the supply chain
  • External context factors are aspects outside the company that affect its operations, strategy, and success, such as sustainability framework guided by SET, SDGs, global trends, laws, regulations, and standards. These are grouped into a set of linked significant materiality issues.

2. Identification and Relevance

 

Identify actual and potential impactsProcedural relevance within business chain from raw material procurement, inbound logistics, quarry management, production and support activities, logistics, sales and marketing, etc.

  • Relationship with the Organization – Which aspects does each business process relate to
  • Relevance in relation to below aspects
    • Financial sales revenue, rising cost, increase in returns, etc.
    • Operational production process
    • Strategic Market Competitiveness, market share, business strategies in the long/short/medium term
    • Reputation Branding, brand recognition, rights, quality, the causal effect of access to finance
    • Laws compliance in order to achieve the sustainability goal

3. Importance

 

Assessing issues affecting the business and prioritizing degree of impact of such issues by specifying criteria
0 = not affected, 1 = very little, 2 = little, 3 = moderate, 4 = severe, 5 = very severe.

Stages of issues
Level 1 Latent Latent, a fact that has no scientific confirmation

Level 2 Emerging to be studied and researched but not yet been accepted as a conclusion.

Level 3 Consolidating clear evidence or customary practices (Institution) which do not require evidence

4. Stakeholders Engagement

 

 Stakeholder engagement involves engaging with stakeholders on an ongoing basis in order to understand their interests, expectations and concerns to reduce potential impacts on operations and create opportunities for development.

Level 1 Interest stakeholders’ express interest in the said issue/express opinions about such issues at any given time

Level 2 Expectation stakeholders expect the Company to manage or handle some situations in the near future

Level 3 Concern stakeholders are concerned about such issues, damage, risk,

5. Prioritization

 

Prioritizing issues

  • Horizontal axis: Corporate issues regarding its impact, likability that requires short term, medium term and long-term actions
  • Vertical axis: Stakeholders’ issues that could impact to stakeholders in short, medium and long term

Assessing to prioritize issues that deliver value to maintain competitiveness, to create long-term value for the business, to support business operations in terms of economic, social, environmental,

or sustainability issues that are core foundation of business strategies and activities including budget allocation then prioritizing in each dimension in order to categorizing materiality to portray sustainability materiality

6. Validation

 

Validation is verifying the validity of the Materiality evaluation process and analysis results to confirm our Materiality that should be prioritized.
This identification process of Materiality is reviewed on a regular basis, and this review ensures the validity of the issue setting and the plans for them to determine business strategies/sustainability strategies or elevate to the organization's risk management or to indicate the future direction of the business including disclosure and communication measures to stakeholders through ESG annual reporting.

7. Management

 

Issues Management is to set the sustainability operation framework for selective issues including its strategies, activities and indicators to set goals for sustainability in terms of economics, society, and the environment.