The material matters reported in Carlsberg Malaysia’s 2021 integrated annual report were localised from the Carlsberg Group’s materiality assessment that was last updated in 2020. To ensure that Carlsberg Malaysia’s materiality matters are enhanced and remain relevant post-pandemic, we partnered with an external consultant to conduct an in-depth materiality assessment focused on capturing the views of our Malaysian stakeholders. Conducted at the end of 2022, the assessment was aligned with the Accountability AA1000 Stakeholder Engagement Standards. The outcome of our assessment is a materiality matrix which provides a visualisation of the relative importance of the matters.
Stakeholders interviewed have a largely positive impression of our efforts towards sustainability. Many have given us credit for doing well in terms of Product Quality and Safety, as well as Employee Health, Safety and Wellness, two of our key material matters.
Feedback on areas of improvement generally revolved around areas outside of our direct control,
such as addressing climate change, navigating regulatory risks and encouraging our consumers
to recycle our packaging. Our stakeholders have thus recommended that we increase engagement
with the local communities, our suppliers and the authorities on these matters.
Evolution of Top Matters from FY2021 to FY2022
- For example, stakeholders shared that Employee Safety, Health and Wellness was non-negotiable given that people are the backbone of the Company, key to maintaining product quality and our reputation in the market and should take priority over other matters such as Diversity, Equity and Inclusion.
- While environmental matters continued to be ranked as highly important, product and people-related matters, as well as the licence to operate, were seen as even more critical, given that these matters pose immediate, existential threats to our operations within the local operational context.
Threats to Commercial Freedom ranked as highly material across all stakeholder groups in FY2022 and related topics such as Corporate Governance and Risk Management; Corruption, Bribery and Anti-Competitive Behaviour; Economic Impact and Tax; and Preventing Harmful Use of Alcohol continued to be ranked as moderately important as they were deemed to be part of the ‘toolkit’ in managing the public’s perception towards the Company amid rising conservatism.