Stakeholders and Material Topics

Stakeholder Engagement

Formosa Laboratories assesses stakeholder dependence, responsibility, tension, influence, and diverse perspectives based on its operations and industry characteristics, following the five principles outlined in the AA1000 Stakeholder Engagement Standard (SES), 2015 edition. Consequently, six main stakeholder groups have been identified : (1) Employees and Workers, (2) Customers, (3) Investors and Shareholders, (4) Suppliers, (5) Government Agencies, and (6) Local Communities.

To fully understand stakeholders' concerns and identify the actual or potential impacts of their issues, Formosa Laboratories actively engages with various stakeholders through multiple bilateral and ongoing channels in its daily operations. At the same time, we gather and respond to their topics of interest. Additionally, Formosa Laboratories has established the Stakeholder Engagement section on our official website, allowing us to maintain good interaction with stakeholders via our mailboxes for any questions or suggestions related to major topics or report content.

Identifying and Ranking Material Topics

Formosa Laboratories identifies Material topics using the four components of the AA1000 AccountAbility Principles 2018 (i.e., inclusivity, materiality, responsiveness, and impact), referencing the sustainability topics listed in the GRI Standards and SASB Standards. These topics are then ranked based on the GRI Universal Standards 2021, after which the impact, management strategies, and practical situations of each topic are disclosed. Formosa Laboratories calibrates our sustainable development goals and strategies according to these results to improve the effectiveness of external communication and provide stakeholders with relevant information for better assessment and decision-making.

The latest assessment was conducted in 2023, during which the company identified Material topics using an impact assessment questionnaire. The relevant results applied to 2023-2024. In a discussion in 2024, the company decided to identify the same Material topics as in the previous year. In 2025, the company will introduce a stakeholder concerns questionnaire to address Material topics relevant to our stakeholders in our business operations.