Geo Energy 11 approach to sustainability [GRI 2-9 to 2-15, 2-1, 2-17 to 2-21, 2-24, 3-1 to 3-3] At Geo Energy, we acknowledge the importance of managing the emissions of our operations while staying committed to running our business with corporate social responsibility concepts to protect our people, environment, and the local communities in which we operate. SUSTAINABILITY FRAMEWORK [GRI 3-1, 3-2] Materiality assessment In 2022, we undertook a benchmarking exercise against our industry peers and stakeholder engagement exercise with our internal stakeholders to understand both positive and negative impacts of our business operations. This process enabled us to identify and validate our materiality topics, and therefore allowing us to assess and prioritise our material topics based on the significance of impacts Geo Energy’s business operations bring to the people, environment, and economy. Our shortlisted material topics are then reviewed and approved by the Board. Geo Energy’s materiality assessment is disclosed with reference to GRI 2021 standards and in line with SGX 27 Core ESG metrics. This year, we reviewed our existing material topics and performed a refresh of material topics, structuring into three key pillars under our sustainability framework. Our key pillars help us to further enhance and prioritise our sustainability strategies and initiatives on the impacts of Geo Energy’s business operations on the people, environment, and economy around us. Whilst our material topics have not changed since our material assessment conducted in 2022, from our review, we have come up with a refreshed list of prioritised material topics as shown below. Our sustainability initiatives and performance are strongly aligned with the three pillars of our sustainability framework above. We will continue to drive performance under each pillar and monitor using key performance indicators and targets which will be further detailed in this report. Managing our environmental footprint • Biodiversity • Energy and climate change • Water and effluents • Waste management Ensuring strong governance and responsible business ethics and integrity • Corporate governance • Risk assessment and management Supporting the health and safety, well-being of our people and value chain • Digitalisation and technology • Supply chain management • Health and safety • Community and well-being • Human capital management • Customer relationship management
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