Double Materiality Assessment
Daejoo Electronic Materials conducted a materiality assessment to establish sustainable management strategies, determine the reporting details, and identify issues that have a significant impact on stakeholders.
The materiality assessment was conducted using the double materiality assessment method proposed by GRI. Double materiality assessment is a concept that concurrently takes into consideration the financial impact of external sustainability factors on a company’s finance and social and environmental impact of a company’s activities on the social environment. Having selected nine material issues through the materiality assessment, we are controlling the issues as our ESG strategic tasks.
Double Materiality Assessment Process
Step 01 ESG Issue Pooling
A total of 44 issues were identified through global ESG standard analysis, review of Daejoo Electronic Materials’ internal management status, industrial benchmarking, and media analysis. From the 44 issues, a pool of 23 issues was established considering their financial and social impacts.
Global Standard Indicator Analysis: Identify issues presented in the domestic and international ESG standards including GRI, ISO 26000, SASB, and UN SDGs
Internal Management Status Review: Analyze corporate management and ESG management activities by reviewing the website and business reports and through interviews, etc.
Industrial Benchmarking: Identify issues from websites and sustainability reports of similar enterprises in Korea and abroad
Media Analysis: Identify issues affecting Daejoo Electronic Materials as well as the industry in the past two years
Pool of 23 ESG Issues
Step 02 Double Materiality Assessment
For 11 days from June 4 to 14, 2024, a double materiality assessment questionnaire survey was conducted targeting employees and external stakeholders. Through this survey, which was conducted online with 78 participants, the impact of each issue was assessed in terms of financial materiality and social and environmental impact materiality. Based on the survey result, the 23 material issues were prioritized.
Financial Materiality Analysis
Analysis of requirements of ESG assessment agencies and customers
Industrial benchmarking
Internal management status review
Questionnaire survey of stakeholders
Social and Environmental Materiality Analysis
Global ESG standard analysis
Media analysis
Questionnaire survey of stakeholders
Step 03 Critical Issue Selection
A feasibility assessment was conducted based on the opinion of the ESG Council, with the top nine critical issues derived.
Double Materiality Assessment Result
Double Materiality Assessment Result
Impact of and Management Direction for Critical Issue
