BDMS conduct materiality assessment annually. The materiality assessment covers the analysis of overall internal and external factors, resulting in positive and negative effects on the economy, society, environment and human rights. Besides, BDMS considers other recent factors related to the pandemics and climate changes that affect business operations and stakeholders. As a result, BDMS assigns the high executives of Corporate Sustainability Development and Innovation Management to assess primary sustainability materiality before acquiring approval from the BDMS Corporate Sustainability Development Committee. The sustainability materiality process and procedure are listed as follows:
Materiality integration in risk management
BDMS integrates the evaluation of critical materiality issues into Enterprise Risk Management process such as service quality & patient safety, cybersecurity, occupational, health and safety, human capital development, and wellbeing, energy & climate change, sale and label practice.
The sustainability materiality process and procedure are listed as follows:
- Review sustainability materiality topics from the last fiscal year.
- Study and compare the sustainability materiality referring to the national and global criteria such as the Global Reporting Initiative (GRI), Sustainable Development Goals (SDGs), Dow Jones Sustainability Index and The Stock Exchange of Thailand (SET)
- Study and compare the sustainability materiality with leading hospitals in Thailand and abroad.
- Study and compare the effects on the sustainability goals in the healthcare business.
- Review the sustainability materiality topics and receive feedback and opinions from the stakeholders for further process.
- Organize the meeting for the BDMS Sustainability Development Committee about sustainability materiality in each category of stakeholders, survey data and BDMS critical topics.
- Conduct online feedback surveys for internal stakeholder e.g., employee representatives, executives in each business group and stakeholder representatives.
- Conduct materiality assessment based on double materiality principle by considering ESG impact on / from the Company. The materiality issue, hence, prioritize by the ESG’s impact toward the Company’s and the Company’s impact on the external environment and society, which ranged from highly critical to critical issues.
3. Verification and Credibility
- Verify and report the prioritization of sustainability materiality to the Committee for review and approval and submit the materiality issues to the Board of Director for final revision and approval.
4. Continuous Development
- Receive feedback and suggestions from the stakeholders through various reporting channels to improve sustainability development.
Target and progress report on significant materiality issues
Significant materiality issue impact to external stakeholders
BDMS has evaluated the impacts of materiality topics in compliance with S&P Global guidelines. The following table shows the concepts of impact assessments converted into quantitative metrics. This could help BDMS aware of the positive and negative impact on external stakeholders and further analyze the quantitative result that reflect the true value of the materiality topics in the future.