Materiality assessment is conducted by Uno Minda Group for
the identification of topics that hold significance for its stakeholders.
This process includes evaluating factors such as the Company's industry outlook, major trends, and
risk perspectives. Committed to responsible growth, the Group believes that openness to
collaboration and continuous improvement can enhance its reputation and build trust among
stakeholders, ultimately supporting its growth.
An ESG materiality assessment is a process that identifies and prioritises the environmental, social,
and governance issues most relevant to a Company's business and its stakeholders. This assessment
involves analysing various factors to determine which ESG issues could significantly impact the
Company's financial performance, reputation, and long-term sustainability. By evaluating these
inputs alongside internal business data and industry trends, companies can pinpoint key ESG issues
that require attention and strategic action. The outcome of this assessment helps in developing
targeted ESG initiatives, enhancing transparency, and fostering stakeholder trust.
Materiality assessment is conducted by Uno Minda Group for the identification of topics that hold
significance for its stakeholders. This process includes evaluating factors such as the Company's
industry outlook, major trends, and risk perspectives. Committed to responsible growth, the group
believes that openness to collaboration and continuous improvement can enhance its reputation and
build trust among stakeholders, ultimately supporting its growth.
Uno Minda Group conducted its comprehensive
materiality assessment
Stakeholder engagement
Listening to our stakeholders ensures we build a positive connect with them
Risk management
Risks and interdependencies
assessments help us remain
competitive
Opportunity identification
Identifying risks helps us
create value for stakeholders
Significance of Materiality
This process involved engaging with stakeholders,
subject matter experts, and business function heads
to identify sustainability issues and evaluate potential
risks and opportunities. We specifically focussed
on the financial implications of emerging ESG risks
and opportunities. Our enterprise risk management
framework is designed to identify and manage
ESG risks, recognising their potentially significant
impact on our business model, value drivers, and financial performance. We plan to conduct this
assessment periodically, updating material issues
based on stakeholder feedback and prevailing market,
regulatory, and environmental trends.
The top management at Uno Minda reviewed the
material issues in FY 2023-24. The management
attempted to prioritise significant material topics that
are crucial for strategy, management, and execution.
The process of materiality assessment involved the following major
steps:
Define the Scope
1
Determine the scope of our assessment, encompassing our activities, operations, and
pertinent ESG factors
Identify and Engage Stakeholders
2
Key stakeholders were identified, including our customers, employees, suppliers,
regulatory bodies, and investors. We engaged with stakeholders through surveys,
interviews, and consultations to gather feedback on ESG issues
Determine Relevant ESG Issues
3
Industry standards and guidelines (such as GRI, SASB), and peer practices were
reviewed to come up with a comprehensive list of potential ESG issues. The internal
and external documents, including annual reports, and risk assessments were analysed
to refine the ESG issues
Assess Impact and Prioritise Issues
4
Evaluation of the significance of each ESG issue was carried out in terms of its
potential impact on business, including financial performance, reputation, and
regulatory compliance. The issues were prioritised based on relevance to the
Company’s strategy, stakeholder concerns, and potential for long-term value creation
Uno Minda Group has identified a comprehensive list of material topics
deemed important to its stakeholders. To prioritise these topics, we employed a multi-step process
that included:
Stakeholder Engagement
Engaging with key stakeholders to understand their expectations and priorities
through direct interactions
1
Internal Assessment
Evaluating our performance on these material topics by collecting data,
conducting analyses, and identifying trends
2
Expert Judgment
Leveraging the expertise of our employees, advisors, and other stakeholders to
make informed judgments about the materiality of these topics
3
Relevance and Significance
Assessing the relevance and significance of each topic to our business and
stakeholders
4
Sustainability Considerations
Evaluating the sustainability of these topics, considering their impact on the
environment and society, as well as their potential to create long-term value
for the Group
5
We are committed to continuously monitoring and reviewing the materiality assessment process to stay
updated
on evolving ESG trends, stakeholder expectations, and regulatory changes.
Top Identified Material Issues
Material Topics : GHG Emissions Management
Relevance to the Company
Achieving the net zero
target by reducing GHG
emissions.
Relevance to Stakeholders
Investors
Community
Regulators
Civil Society
Customers
Boundary
Uno Minda Group
Associated Capital
Natural Capital
Alignment with SDGs
Material Topics : Energy
Management and
Energy Transition
Relevance to the Company
Energy use optimisation
across the operations and
use of renewable energy
(solar or wind power)
Relevance to Stakeholders
Investors
Regulators
Customers
Boundary
Uno Minda Group
Associated Capital
Natural Capital
Alignment with SDGs
Material Topics : Water
Management
Relevance to the Company
Water resource
management across the
Company's operations for
equitable availability
Relevance to Stakeholders
Community
Regulators
Customers
Boundary
Uno Minda Group
Associated Capital
Natural Capital
Alignment with SDGs
Material Topics : Product Life Cycle
Management and
Product Quality
Management
Relevance to the Company
Aid in the Company's
understanding of the
carbon footprint of its
products, energy use,
waste production, and
ecosystem threats.
Assist in resource
optimisation for
sustainable development,
cost containment, and
regulatory compliance.
Relevance to Stakeholders
Regulators
Customers
Boundary
Uno Minda
Group and
Suppliers
Associated Capital
Natural Capital
Manufacturing
Capital
Alignment with SDGs
Material Topics : Waste
Management
Relevance to the Company
Make the shift from
a linear to a circular
economy while
maintaining community
and environmental safety
and health.
Relevance to Stakeholders
Investors
Employees
Regulators
Civil Society
Boundary
Uno Minda
Group
Associated Capital
Natural Capital
Alignment with SDGs
Material Topics- Human Resources
Management
and Employee
Engagement
Relevance to the Company
Allow the organisation
to place a high priority
on human capital
investments, foster a
robust corporate culture,
and develop a driven staff
that contributes to long-term, profitable business
performance.
Relevance to Stakeholders
Employees
Boundary
Uno Minda
Group
Associated Capital
Human Capital
Alignment with SDGs
Material Topics- Occupational
Health and Safety
(OHS)
Relevance to the Company
Emphasises workplace
health and safety in order
to support long-term
business growth and the
welfare of its workforce.
Relevance to Stakeholders
Investors
Employees
Regulators
Boundary
Uno Minda
Group and
Suppliers
Associated Capital
Human Capital
Alignment with SDGs
Material Topics- Human Rights
(including
Diversity, Equity,
& Inclusion)
Relevance to the Company
Uno Minda values
stakeholder and
individual rights, which
are upheld at every stage
of the value chain.
Relevance to Stakeholders
Investors
Employees
Regulators
Community
Suppliers
Boundary
Uno Minda
Group and
Suppliers
Associated Capital
Human Capital
Alignment with SDGs
Material Topics- Corporate Social
Responsibility
(CSR)
Relevance to the Company
The culture at Uno Minda
places a high importance
on community welfare,
encouraging and
facilitating better living
in the neighbourhood
of operations and
attractions via a variety of
nationwide projects.
Relevance to Stakeholders
Community
Regulators
Civil Society
Boundary
Uno Minda
Group
Associated Capital
Social and
Relationship
Capital
Alignment with SDGs
Material Topics- Responsible
and Sustainable
Supply Chain
Relevance to the Company
Maintains a long-term
influence, reduces
dangers to one's
reputation, and boosts
operational effectiveness,
enabling a long-term
impact that goes beyond
operational constraints.
Relevance to Stakeholders
Suppliers
Customers
Regulators
Boundary
Uno Minda
Group and
Suppliers
Associated Capital
Social and
Relationship
Capital
Natural capital
Alignment with SDGs
Material Topics- Emerging
Technologies
Relevance to the Company
Increase the rate of
ongoing innovation to
create new products that
meet changing customer
needs and market
demands.
Relevance to Stakeholders
Investors
Suppliers
Customers
Boundary
Uno Minda
Group and
Suppliers
Associated Capital
Intellectual
Capital
Manufacturing
Capital
Alignment with SDGs
Material Topics- Economic Value
Creation
Relevance to the Company
Create economic value
to preserve and enhance
financial interests of
stakeholders
Relevance to Stakeholders
Employees
Investors
Customers
Boundary
Uno Minda
Group,
Investors
and
Shareholders
Associated Capital
Financial
Capital
Alignment with SDGs
Material Topics- Regulatory
Compliance
Relevance to the Company
Maintaining image of
Uno Minda group as
responsible corporate
which is fully compliant
with regional, national
and international laws
and regulations
Relevance to Stakeholders
Civil Society
Regulators
Investors
Boundary
Uno Minda
Group
Associated Capital
Social and
Relationship
Capital
Manufacturing
Capital
Financial
Capital
Alignment with SDGs
Mapping of Material Topics to GRI Indicators
Material Topic
GRI Mapping
GHG Emissions Management
GRI 305
Energy Management and Energy Transition
GRI 302
Water Management
GRI 303
Product Life Cycle Management and Product Quality Management
GRI 301, GRI 306
Waste Management
GRI 306
Human Resources Management and Employee Engagement
GRI 401, GRI 406
Occupational Health and Safety (OHS)
GRI 403
Human Rights (including Diversity, Equity, & Inclusion)
Material Topics : GHG Emissions Management
Material Topics : Energy
Management and
Energy Transition
Material Topics : Water
Management
Material Topics : Product Life Cycle
Management and
Product Quality
Management
Material Topics : Waste
Management
Material Topics- Human Resources
Management
and Employee
Engagement
Material Topics- Occupational
Health and Safety
(OHS)
Material Topics- Human Rights
(including
Diversity, Equity,
& Inclusion)
Material Topics- Corporate Social
Responsibility
(CSR)
Material Topics- Responsible
and Sustainable
Supply Chain
Material Topics- Emerging
Technologies
Material Topics- Economic Value
Creation
Material Topics- Regulatory
Compliance