Materiality Assessment
Embracing Materiality for Achieving Long-term SUCCESS.
Materiality guides strategic decision-making by determining the significance of topics for an organization and its stakeholders. A sustainability materiality assessment is crucial to identify and prioritize Environment, Social and Governance (ESG) topics, align strategies with stakeholder expectations, and make informed decisions amidst diverse ESG demands.
During this year, we embarked on our ESG journey and as a first step, we conducted a materiality assessment exercise on some key ESG topics that might impact our business. This analysis will help us in allocating resources effectively and implementing various initiatives under ESG that will enable us in making a larger impact and long-term value for all our stakeholders. Furthermore, we remain dedicated to positively impacting society and the environment, while fulfilling our responsibilities as one of the country’s leading pathologists.
Achieving the remarkable through our approach and process
We conducted a materiality assessment survey digitally on the GovEVA platform to understand our Company’s ESG readiness vis-à-vis global standards. The matrix for this materiality assessment was developed on the basis of the frameworks of GRI, SASB, and SDG. These assessments were answered by leadership team members across functions, ESG Champions and was reviewed by internal and external ESG mentors. The assessment followed a double materiality approach to analyse its impact on both our Company and our stakeholders.
63% Overall materiality score achieved as of September 2022 (basis on current baseline assessment) and by the end of March 2024, we want to reach the target score of 85%
