For Primax’s stakeholders, we have implemented a rigorous process for identification and selection. Apart from considering the five principles of the AA 1000 Stakeholder Engagement Standards (SES): "dependency, responsibility, influence, diversity of perspectives, and tension," we have also aligned our approach with the spirit of GRI Standards ( 2021 ) by evaluating stakeholders from the perspective of individuals or groups whose interests are or may be affected by the organization's economic activities. Lastly, based on the level of impact, we have categorized and prioritized stakeholders, taking into account the results of the AA 1000 identification process. The ESG Office has determined seven main stakeholder groups for Primax, in the following order: government agencies/Competent authorities, Clients ,shareholders/investors/financial institutions/external rating agencies, employees, suppliers/contractors/outsourced businesses, local communities, and non-governmental organizations/non-profit organizations.
Communication with and response to stakeholders
Primax places great importance on the interests and opinions of stakeholders and engages in continuous communication and engagement. The engagement approach adopts diverse forms, including unidirectional, bidirectional, one-to-many, or many-to-one, with the aim of understanding stakeholders' concerns and expectations towards Primax. The ESG Office conducts biannual communication with key representatives of various stakeholder groups, gathering their perspectives on sustainability issues and identifying any significant impact events. The consolidated report from these engagements serves as a reference for identifying material issues and is regularly presented to the Board of Directors. For detailed information on stakeholders' concerns regarding sustainability issues, Primax's responses, and the outcomes of engagements, please refer to the table below:
A convenient complaint and reporting channel
Primax has established the "Operational Procedures for Ethical Management and Guidelines of Conduct," "Employee Communication and Feedback Management Measures," and "Employee Code of Conduct." We have also set up complaint and reporting channels to facilitate communication and feedback from internal and external stakeholders. Externally, we have a dedicated ESG (Environmental, Social, and Governance) sustainable website section that includes an ESG mailbox as a communication channel with external stakeholders. This mailbox allows stakeholders to raise any questions, suggestions, complaints, reports of misconduct, or other relevant matters related to Primax Electronics. It is managed by the ESG Office, which is responsible for handling the received correspondence and messages, notifying relevant internal departments for evaluation and response, and maintaining open and constructive communication. Internally, we provide diverse employee communication channels. If any employee is unsure whether a situation violates applicable laws, regulations, binding policies, orcompany norms, they can seek advice and assistance from supervisors, human resources,or legal departments.
Process for Materiality Assessment
In accordance with the latest version of "GRI 3 : Material Topics 2021 " disclosure principles,Primax Electronics has adjusted its process for assessing material issues. We have adopted the European Union's "double materiality" approach to evaluate the "actual or potential impacts of Primax's operational economic activities on external economic, environmental, and human rights aspects" and "the potential impact on Primax's sustainable operations."This approach allows Primax Electronics to gain a deeper understanding of the positive and negative impacts on external and internal stakeholders during its operational activities (or negative impacts on external and internal stakeholders during its operational activities (or potential impacts). It further enables us to develop management policies that prevent ormitigate negative impacts while actively contributing positively. The process for assessing material issues at Primax Electronics comprises five main steps, as explained below.
Selection of Significant Issues and Impact Matrix
ESG Office and external sustainability expert consultants comprehensive consideration annually. There are 13 priority major sustainability issues for reporting are selected, and "Climate change adaptation"、"Economic performance"、"Talent Recruitment and Retention" 、"Talent Development and Cultivation" are related our Enterprise Risk, while others are categorized as general issues. The selection was approved by Vice General Manager Chiang, Yan-Ying, the Chairman of the ESG Office, and presented to the Board of Directors for approval in June 2023 .