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Materiality Topics

Materiality Assessment GRI 3-1 (2021)

GGC prepared the Integrated Sustainability Report by selecting and assessing Material Topics that are material to the development of GGC’s sustainability, together with topics aligned with the expectations of all Stakeholder groups. The Integrated Sustainability Report is prepared with reference to the Global Reporting Initiative (GRI) Standards 2022, the Integrated Reporting (IR) Framework of the International Integrated Reporting Council (IIRC), the Task Force on Climate-related Financial Disclosures (TCFD), and the guidelines for the Annual Registration Statement / Annual Report (Form 56-1 One Report). In accordance with the GRI Standards, the prioritization of Material Topics comprises four steps as follows:

Understand the Organization’s Context
Understand the Organization’s Context

GGC consolidates information related to business operations across the value chain, both internal and external, in the sustainability context across economic, social, and environmental dimensions. Information is obtained through engagements with Stakeholders and experts, reviews of global and industry trends related to material issues, and reference to the United Nations Sustainable Development Goals to compare with GGC’s strategic direction and operational challenges. In addition, GGC conducts discussions and interviews with relevant Stakeholder groups. A materiality assessment or a review of the identification of Material Topics is conducted annually to identify key issues, changes, and potential impacts on GGC in a timely manner.

Identify Actual and Potential Impacts
Identify Actual and Potential Impacts

GGC conducts interviews and gathers input from Management and six key internal and external Stakeholder groups: Stakeholders, Investors and Analysts; Community Society and Environment; Government; Employees; Suppliers and Business Partners; and Customers, together with relevant industry experts, to capture views, expectations, and concerns for each topic.

For the Double Materiality Assessment, GGC considers impacts on GGC as well as impacts on key external Stakeholders The analysis covers both positive and negative impacts, together with related risks and opportunities, arising from sustainability Material Topics, to ensure a comprehensive assessment that reflects perspectives across stakeholder groups.

Assess the Significance of Impacts
Assess the Significance of Impacts

After identifying impacts from Material Topics in Step 2, GGC consolidates feedback from Stakeholders and experts to assess positive and negative impacts on the economy, society, and the environment, including human rights. Assessment considers the likelihood of occurrence and the severity of impacts. For severity, GGC considers the scale (area or number of people affected), scope (extent of impact), and remediability (the ability to address, restore, or remediate impacts), particularly for potential negative impacts

Prioritize the Most Significant Impacts
Prioritize the Most Significant Impact for Reporting

GGC uses the scores from the assessment to prioritize Material Topics and tests the results against global trends on the importance of material issues. The assessment results—together with organizational context, targets, and strategy—are presented to the Sustainability Development Committee, Executive Management, and the Corporate Governance Committee for consideration and approval for disclosure across relevant dimensions.

The materiality assessment prioritization process is incorporated into GGC’s Enterprise Risk Management (ERM) discussions to reinforce transparency, clarity, and accuracy of information. In addition, the materiality assessment process, Stakeholder engagement process, and data collection and evaluation process are verified by an independent external assurance provider. The assurance statement is provided in the Appendix of the report.

Report Content Defining Process

Result of Materiality Assessment GRI 3-2 (2021)

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Material Topics and Management of Material Topics GRI 3-3 (2021)

Corporate Governance & Business Code of Conduct
Impact to Company
Type of Impact : Positive
  • Improve efficiency and strengthen capability in business operations and competitiveness, including attracting investor interest.
  • Enhance readiness to manage risks and mitigate impacts from various risk issues in an effective and timely manner.
Type of Impact : Negative
  • Non-compliance with the Business Code of Conduct may reduce competitiveness and investor confidence, resulting in decreased investor interest in GGC.
  • Increase risks related to non-compliance with requirements, laws, and human rights.
Impact to External Stakeholders
Type of Impact : Positive
  • Stakeholders receive returns and fair treatment, without human rights and labor rights violations or exploitation.
  • Reduce damages from legal, human rights, and labor violations, enabling Stakeholders to achieve their own policy goals with greater effectiveness.
  • Stakeholders receive fair and effective mitigation and remediation for risk impacts.
Type of Impact : Negative
  • Stakeholders receive unfair returns and treatment, leading to legal, human rights, and labor violation issues.
  • Damage from legal, human rights, and labor violations prevent Stakeholders from achieving organizational business goals.
  • Stakeholders are severely affected by ineffective Risk Management and do not receive fair risk mitigation and remediation.
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
-
Outside Organization
Investors
Customers
Governance
Business Partners
Communities Society
Management Approach and Key Initiatives
Website:
GRI
GRI 2 General Disclosure 2021
SDGs
Climate & Environment
Impact to Company
Type of Impact : Positive
  • Increase efficiency in the production process of environmentally friendly products By developing low carbon products, making up 43% of total products in 2025
  • Increase the capacity of resource and energy management, as well as increase the use of renewable energy. Raising standards for producing low carbon products. As a result, the amount of greenhouse gas emissions has decreased by 4,353 tons Carbon dioxide equivalent per year.
Type of Impact : Negative
  • Higher agricultural raw material prices, particularly oil palm, due to climate variability may affect production processes and potentially lead to production disruption.
  • The amount of energy used and the amount of garbage and waste increase due to inefficient management. This makes it impossible to achieve the goal of reducing greenhouse gas emissions in both the short and long term and affects the credibility of the organization.
  • Damaged from violating laws, regulations, and environmental measures
Impact to External Stakeholders
Type of Impact : Positive
  • Reduce environmental impacts on society and nearby communities from the decreased amount of greenhouse gas emissions and reduced amount of trash and waste.
  • Stakeholders receive support in issuing policies or climate change measures and be able to effectively achieve environmental performance and climate management goals.
  • Respond to the demand for environmentally friendly products.
Type of Impact : Negative
  • Farmers face problems from climate change, affecting the quality of the product and causing a decrease in production numbers.
  • Violation of human rights and the wellbeing of people in the surrounding communities from the amount of garbage, waste, and pollutants that are emitted
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
Employees
Outside Organization
Investors
Customers
Governance
Business Partners
Communities Society
Management Approach and Key Initiatives
Website:
GRI
  • GRI 305 Emission 2016: SOx, NOx and other significant air emissions (GRI 305-7)
  • GRI 303 Water and Effluent 2018: Water Withdrawal (GRI 303-3), Water Discharge (GRI 303-4), Water Consumption (GRI 303-5)
  • GRI 306 Waste 2020: Waste Generated (GRI 306-3), Waste Diverted from Disposal (GRI 306-4), Waste Directed to Disposal (GRI 306-5)
  • GRI 302 Energy 2016: Energy Consumption within the organization (GRI 302-1), Total energy consumption outside the organization (GRI 302-2); Energy intensity (GRI 302-3)
  • GRI 305 Emissions 2016: Direct (Scope 1) GHG Emissions (GRI 305-1), Energy Indirect (Scope 2) GHG Emissions (GRI 305-2), Other Indirect (Scope 3) GHG Emission (GRI 305-3)
SDGs
Risk Management
Impact to Company
Type of Impact : Positive
  • Increase efficiency of the Business Continuous Plan (BCP) to reduce the risk of damage to GGC’s reputation and credibility, as well as operational risks that will affect GGC’s operating results.
  • Able to cope with changes from both short- term and long- term risks efficiently and in a timely manner.
  • Able to cope with changes from both short- term and long- term risks efficiently and in a timely manner.
Type of Impact : Negative
  • Damage to the image and business performance of GGC, which may lead to failure in business operations due to being unable to cope with changes and impacts from risks.
Impact to External Stakeholders
Type of Impact : Positive
  • Reduce problems that may occur to stakeholders from operational risks and climate change risks from an effective risk management plan that covers all groups of relevant stakeholders.
  • Increase planning skills to solve problems and decision making through organizing training and preparation for stakeholders.
Type of Impact : Negative
  • Decreased operating results of GGC due to inefficient risk management. This results in lower financial returns for investors and affects returns to other stakeholders throughout the supply chain.
  • Fluctuations in raw material prices and product prices due to failure to mange risks. As a result, customers do not receive quality products and may lead to violations of human rights and labor in various issues.
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
Employees
Outside Organization
Investors
Management Approach and Key Initiatives
Website:
GRI
GRI 301 Material 2016: Material used by weight or volume (GRI 301-1)
SDGs
Product Responsibility
Impact to Company
Type of Impact : Positive
  • All products are certified with the Carbon Footprint Products label.
  • Increase Low Carbon Product offerings to reduce greenhouse gas emissions from production and product use.
Impact to External Stakeholders
Type of Impact : Positive
  • Respond to government policies, measures, and requirements, supporting national target achievement and international recognition.
  • Respond to customer demand for Eco-Friendly Product.
  • Reduce environmental problems in surrounding communities and society resulting from business operations.
  • Promote and enhance innovation capability through proposing, investing in, and researching Low Carbon Product, supporting learning and advancement of the Oleochemical Industry in Thailand.
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
-
Outside Organization
Governance
Business Partners
Management Approach and Key Initiatives
Website:
GRI
GRI 301 Material 2016: Material used by weight or volume (GRI 301-1)
SDGs
Human Capital Development and Retention
Impact to Company
Type of Impact : Positive
  • Increase efficiency in GGC’s business operations driven by potential employees.
  • GGC can grow steadily and sustainably by attracting and retaining efficient employees.
Type of Impact : Negative
  • GGC loses its reputation. This results in an inability to attract and retain knowledgeable and talented personnel.
  • GGC’s operating results decrease from the decreased ability to conduct business due to a shortage of potential employees.
  • GGC’s lack of knowledge development, causing GGC to lag behind and lack the ability to compete.
Impact to External Stakeholders
Type of Impact : Positive
  • Promote employee well-being, including fair compensation and benefits for employees and their families.
  • Support employee capability development, enabling more effective performance.
  • Increase stakeholder engagement with GGC, contributing to national prosperity and economic growth potential.
Type of Impact : Negative
  • Human rights and labour issues may arise from unfair employment practices and compensation.
  • Insufficient training to develop job-relevant skills may reduce performance and fail to meet GGC expectations.
  • Lower investor returns due to lack of skilled personnel to strengthen business operations
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
Employees
Outside Organization
Investors
Governance
Business Partners
Management Approach and Key Initiatives
Website:
GRI
  • GRI 405 Diversity and Equal Opportunity 2016: Ratio of basis salary and remuneration (GRI 405-2)
  • GRI 2 General Disclosure 2021 (GRI 2-7)
SDGs
Supply Chain Management
Impact to Company
Type of Impact : Positive
  • Increase efficiency in GGC’s operations by selecting business partners and effective suppliers and adhering to the principles of sustainability.
  • Reduce production costs by encouraging suppliers to operate under sustainability principles.
  • Increase the potential to deliver raw materials, which promotes continuity of product delivery.
Type of Impact : Negative
  • Reduces reliability and loss of reputation from violating the law, human rights, and labor, as well as creating environmental impacts from inefficient raw material acquisition and procurement processes
Impact to External Stakeholders
Type of Impact : Positive
  • Educate farmers in Thailand on sustainable palm cultivation, which increases the potential of Thai farmers, reduces deforestation, and reduces the impact of human rights risks that may occur from palm oil plantations and other agricultural raw materials.
Type of Impact : Negative
  • Increase the impact of deforestation and unsustainable resource management. This results in a shortage of natural resources and damages the diversity of the ecosystem. This stems from the failure to communicate the Supplier Code of Conduct
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
-
Outside Organization
Investors
Customers
Governance
Business Partners
Communities Society
Management Approach and Key Initiatives
Website:
GRI
  • GRI 308 Supplier Environmental Assessment 2016: Disclosure GRI 308-1 New suppliers that were screened using environmental criteria
  • GRI 414 Suppliers Social Assessment 2016: Disclosure GRI 414-1 New Suppliers that were screened using social criteria
SDGs
Innovation Management
Impact to Company
Type of Impact : Positive
  • Increase investment in research and development, which leads to product quality development. This helps increase the value of GGC’s products and build business competitiveness. GGC’s investment in product research and development is worth 1 million THB
  • Promote the research and development of innovative processes, which can enhance efficiency in using resources for maximum benefit, as well as reduce pollution emissions and reduce greenhouse gas emissions into the environment.
Type of Impact : Negative
  • Loss of Business Competitiveness, which causes a loss of market share to competitors from the delayed response to innovation changes.
Impact to External Stakeholders
Type of Impact : Positive
  • Product prices decrease, while quality increases.
  • Employees develop knowledge and innovation skills that are beneficial to improving product quality.
  • Partners and customers develop innovations together with GGC, which leads to economic, social and environmental development of the country.
  • Shareholders receive more returns from the development and application of innovations.
Type of Impact : Negative
  • Product quality does not meet customer needs. As a result, investors’ earnings will decrease.
  • Reduce efficiency in making maximum use of raw materials, which may cause problems in the use of natural resources.
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
Employees
Outside Organization
Customers
Governance
Business Partners
Management Approach and Key Initiatives
Website:
GRI
-
SDGs
Information and Cybersecurity
Impact to Company
Type of Impact : Positive
  • Reduce damage from personal data violation issues and identity theft. This helps increase the credibility of GGC and help build competitive capabilities
Type of Impact : Negative
  • Information leaks causing damage to GGC’s operations, as well as increasing expenses from compensation for data leaks.
Impact to External Stakeholders
Type of Impact : Positive
  • Protecting the personal data of all stakeholder groups enhances trust and confidence in collaborating with the Company.
Type of Impact : Negative
  • Personal data breaches may lead to human rights concerns and result in a loss of trust among stakeholders.
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
Employees
Outside Organization
Investors
Customers
Governance
Business Partners
Management Approach and Key Initiatives
Website:
GRI
-
SDGs
-
Community Relation
Impact to Company
Type of Impact : Positive
  • Strengthen corporate image and reputation through positive community relationships and engagement.
Type of Impact : Negative
  • Receive complaints from operations that do not reflect community and social needs, resulting in loss of credibility.
Impact to External Stakeholders
Type of Impact : Positive
  • Improve quality of life and well-being of community members.
Type of Impact : Negative
  • Potential human rights impacts and negative effects on community living conditions.
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
Employees
Outside Organization
Customers
Governance
Communities Society
Management Approach and Key Initiatives
Website:
GRI
  • GRI 201 Economic Performance 2016: Community Investment (GRI 201-1)
SDGs
Customer Relationship Management
Impact to Company
Type of Impact : Positive
  • Based on the customer satisfaction survey conducted every two years, customer satisfaction was 96 % in 2024, enabling the Company to retain existing customers and expand its customer base.
  • Increase opportunities to expand business with customers.
Impact to External Stakeholders
Type of Impact : Positive
  • Respond to customer needs
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
-
Outside Organization
Customers
Management Approach and Key Initiatives
Website:
GRI
-
SDGs
Biodiversity
Impact to Company
Type of Impact : Positive
  • Reduce the risk of deforestation in GGC’s raw materials acquisition, which helps reduce environmental impacts.
  • Reduce reputational risks associated with deforestation across the supply chain
Impact to External Stakeholders
Type of Impact : Positive
  • Forests and natural resources have been restored, which increases biodiversity.
  • Increase agricultural production from the restoration of nature and ecosystems
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
-
Outside Organization
Customers
Management Approach and Key Initiatives
URL:
GRI
-
SDGs
-
Occupational Health and Safety
Impact to Company
Type of Impact : Positive
  • Reduce the number of accidents that occur within the workplace and create a better working environment, which enables continuous business operations.
Type of Impact : Negative
  • In case of accident or the death of employee or related personnel while working, this may cause disruption to operations and impact the reputation of GGC.
Impact to External Stakeholders
Type of Impact : Positive
  • Help reduce accidents that may occur among employees and suppliers during work, which reduces the risk of human and labour rights violations
Type of Impact : Negative
  • May cause disability of employees that affects the employees’ families lead to a difficult life.
Impact Level
Impact Boundary, Key Stakeholders and Human Rights
Within Organization
Employees
Outside Organization
Customers
Business Partners
Management Approach and Key Initiatives
Website:
GRI
  • GRI 403 OHS 2018: Work Related injuries (GRI 403-9), Works Related Ill health (GRI 403-10)
  • Number of process event safety (OGSS OG13), to be replaced by GRI 306 Waste 2016 (GRI 306-3) which is topic standard disclosure for 2021 O&G Sector Standard Ref.No. 11.8.2, 11.8.3
SDGs
-

Sample of Management of Significant Material Topics

Material Issues Corporate risk factor Targets and Progress Corporate KPI* References
Climate Strategy and Energy Management Strategic Risk: Climate Action Towards Net Zero Risk – risks associated with the Company’s readiness to achieve net zero greenhouse gas emissions targets.
  • Short-term target: Reduce Scope 1 and Scope 2 greenhouse gas emissions by 856 tCO2e compared with the previous year.
  • Long-term target: Reduce Scope 1 and Scope 2 greenhouse gas emissions by 20% by 2030, compared with the 2012 base year.
  • Long-term target: Achieve net zero greenhouse gas emissions (Net Zero).
  • Long-term target: Reduce Scope 3 greenhouse gas emissions by 50% by 2050.
  • Performance in 2025: Scope 1 and Scope 2 greenhouse gas emissions amounted to 21,505 tCO2e.
  • Performance in 2025: Scope 1 greenhouse gas emissions fell by 62% and Scope 2 emissions declined by 8% relative to 2025.
  1. Reduction of greenhouse gas emissions in alignment with the net zero emissions target.
  2. Participation in and implementation of carbon offsetting projects
 Climate Strategy Energy Management
Supply Chain Management and Promotion of Sustainable Palm Oil Production Standards (RSPO)

Operational Risk: Risks related to quality, price volatility, and availability of agricultural raw materials.

Reputational Risk: Risks associated with loss of corporate reputation due to procurement practices that cause environmental and social impacts.
  • Long-term target: Support 800 smallholder farmers to obtain Roundtable on Sustainable Palm Oil (RSPO) certification by 2025.
  • On-going target: 100% of key suppliers comply with the Company’s Business Code of Conduct.
  • On-going target: 100% of deliveries meet quality standards, are sufficient, and align with customer requirements.
  • On-going target: Conduct Environmental, Social and Governance (ESG) assessments for first-priority suppliers.
  • Performance in 2025: The Company communicated the Business Code of Conduct Handbook to 100% of key suppliers
  • Performance in 2025: ESG assessments were conducted for 109 key suppliers.
  • Performance in 2025: The Company organized training programs and supported smallholder farmers in obtaining RSPO certification in four provinces: Krabi, Trang, Phang Nga, and Chumphon covering 7 palm oil mills and a network of 1,000 farmers.
  1. Investment value in low-carbon products.
  2. Number of smallholder farmers trained on RSPO Supply Chain Management.
  3. Increase in procurement volume of RSPO-certified raw materials.
 Value Chain Management | Global Green Chemicals
Occupational Health and Safety Business as Usual Risk: Operational and Safety Risk
  • Short-term target: Zero Tier 1 and Tier 2 process safety events in 2025.
  • Short-term target: Lost Time Injury Frequency Rate (LTIFR) = 0 in 2025.
  • On-going target: Maintain status as an accident-free organization.
  • On-going target: Total Recordable Injury Rate (TRIR) = 0.
  • Performance in 2025: Employee LTIFR = 0
  • Performance in 2025: Contractor LTIFR = 0
  • Performance in 2025: Number of Tier 1 and Tier 2 process safety events = 0
  1. Reduction of employee work-related injury rates.
  2. Reduction in Process Safety Event Tier 1 occurrences.
  3. Reduction of TRIR.
 Occupational health and safety management

*Remark: The Corporate KPI is accounted to 70% of Executive Individual

Fore more information, see: GGC Materiality External Impact Valuation 2024