Materiality Topics

In alignment with the Global Reporting Initiative (GRI) Standards, IRPC applies a double materiality assessment as part of its sustainability management approach. This process evaluates both outside-in impacts—how environmental, social, and governance (ESG) issues affect the company’s business performance and enterprise value—and inside-out impacts—how the company’s activities affect the economy, society, and environment across the value chain.

The assessment integrates stakeholder expectations, industry trends, regulatory requirements, and guidance from recognized domestic and international organizations. It is conducted annually to capture changes in both internal and external contexts. The findings are then incorporated into the formulation, development, and refinement of IRPC’s sustainability goals, strategies, and risk management frameworks, ensuring alignment with evolving business priorities and global sustainability standards.

Double Materiality Assessment Process

1. Understand the Organization’s Context

2. Identify Actual and Potential Impacts

3. Assess the Significance of the Impacts

4. Prioritize the Most Significant Impacts

IRPC analyzes internal and external business factors—such as strategies, structure, activities, stakeholders, industry trends, and regulations—along with stakeholder expectations to identify relevant sustainability topics.

IRPC identifies positive and negative, short- and long-term impacts of these topics on the economy, environment, stakeholders, and human rights across the value chain.

Using a double materiality lens, IRPC evaluates both business risks/opportunities and broader ESG impacts, considering severity and likelihood, with input from stakeholder engagement.

IRPC prioritizes key issues based on assessment results, validates them against national and international ESG frameworks, and submits them for approval by the Sustainability Development Committee and acknowledgment by the board-level Corporate Governance and Sustainability Committee.

Double Materiality Matrix

In 2024, IRPC conducted a materiality assessment in accordance with the GRI Standards and Double Materiality DJSI Assessment, considering the Company’s operations, stakeholder expectations, impacts, and global sustainability trends. The assessment identified 16 sustainability issues, which remain the same as the previous year, and evaluated the impact levels of each issue. These issues are classified into three categories: Sustainable Value Creation Material Issues, Enabling Material Issues, and Business Fundamental Material Issues, based on their impacts on both the business and the Company’s environmental and social.

Materiality Topics Management

IRPC has communicated the Company’s sustainability performance related to each material topic to stakeholders through both the corporate website and in Section: Business-Driven Sustainability of the Business Annual Registration Statement/ Annual Report 2024 (Form 56-1 One Report). Our sustainability reporting adheres to the guidelines of the Annual Registration Statement/Annual Report (Form 56-1 One Report) of the Office of the Securities and Exchange Commission (SEC) and the Sustainability Reporting Guideline (Standards) of the Global Reporting Initiative (GRI). Details of sustainability materials, including their scope of impacts, contribution to UN Sustainable Development Goals, as well as disclosure locations, are presented in the table below: