STAKEHOLDERS

FET values its communication and engagement with various stakeholders highly. For the purpose of fully comprehending the essence of internal and external stakeholder management, we have followed the principles of AA1000SES Stakeholder Engagement Standard to identify seven types of stakeholders crucial to our operations and ensure that we have dedicated communication channels to respond to our stakeholders’ requests and expectations in our daily operations.

FET Stakeholder Management Procedure

Management of Material Topics

Process for Assessing Material Topics

FET conducts a regular annual assessment to identify material sustainability topics. This process is based on an integrated analysis of the company’s operations, industry characteristics, value chain, and potential impacts on stakeholders. By incorporating stakeholder engagement, expert consultation, global risk reports, the United Nations Sustainable Development Goals (UN SDGs), and telecommunications-related disclosure topics outlined by TCFD, CDP, and SASB, FET ensures its materiality analysis remains aligned with global standards. The methodology also adheres to the GRI 3: 2021 Material Topics standard, particularly emphasizing the principles of materiality, completeness, and stakeholder inclusiveness. The results are refined through stakeholder surveys and comprehensive evaluations to identify sustainability issues that have a significant influence on FET’s stakeholders.

In accordance with GRI 3: 2021, FET’s materiality process begins with understanding the company’s operating context and identifying actual and potential impacts. These impacts are then evaluated based on their significance and likelihood—both positive and negative—from the perspective of stakeholders. After assessing the degree to which these issues may affect the company itself, the most critical topics are prioritized for disclosure and reporting.

This assessment of impact severity and likelihood aligns with the concepts used in our risk management procedures for evaluating the potential magnitude and probability of losses. Therefore, by following the GRI 3 guidelines and applying the principle of double materiality, FET has identified six material topics that reflect both “the impacts on FET’s operations” and “the impacts on the economy, environment, and society.” The detailed evaluation process is outlined below.

Materially Matrix and Definition of Materiality in 2024