My first Publication ocbc_ar17_fullreport_english | Page 50

SUSTAINABILITY REPORT
OUR ESG FACTORS
IDENTIFICATION OF ESG FACTORS
We conducted our first formal workshop in March 2017 to determine the
Environmental, Social and Governance (ESG) factors that are material to us.
The assessment comprised a four-step process guided by GRI Standards.
For our inaugural Sustainability Report, our Sustainability Council had the
responsibility of identifying and prioritising ESG factors for reporting.
Moving forward, we will consider involving selected external stakeholders,
in a phased manner, in the assessment of our material ESG factors.
ACTIVITIES
A list of ESG factors was identified through:
• Intensive engagement with representatives
of various business units
• Consideration of the interests and concerns
of key stakeholders with whom we interact
• Benchmarking against banking peers’
ESG factors
GRI REPORTING PRINCIPLES GUIDING SUSTAINABILITY REPORT
1. Sustainability context – Report shall represent the reporting organisation’s
performance in the wider context of sustainability.
2. S
 takeholder inclusiveness – The reporting organisation shall identify
its stakeholders and explain how it has responded to their reasonable
expectations and interests.
GRI REPORTING PRINCIPLES GUIDING
SUSTAINABILITY REPORT
3.  Materiality – Report shall cover topics which reflect the reporting
organisation’s significant economic, environmental and social impacts or
substantively influence the assessments and decisions of stakeholders.
• Sustainability context (Principle 1)
• Stakeholder inclusiveness (Principle 2)
4. Completeness – Report shall include coverage of material topics and their
boundaries, sufficient to reflect significant economic, environmental
and social impacts, and to enable stakeholders to assess the reporting
organisation’s performance in the reporting period.
WE HAVE DETERMINED THAT THE FOLLOWING ESG FACTORS ARE MATERIAL TO US.
RESPONSIBLE BUSINESS PRACTICES
STRONG
GOVERNANCE
CORPORATE CITIZENSHIP
FAIR
DEALING RESPONSIBLE
FINANCING COMBATING
FINANCIAL CRIMES
AND CYBER THREATS ECONOMIC
CONTRIBUTIONS
• Product Suitability
• Complaint
Management • ESG Risk Assessment
• Reputational
Risk Management
• Prudence in Lending • Anti-Money
Laundering
• C
 ountering the
Financing of Terrorism
• C
 yber Security • Economic
Performance
• Indirect
Economic Impact
• Marketing
and Labelling
• Product and
Service Labelling
(Financial Services
Sector Disclosure) • Product Portfolio
(Financial Services
Sector Disclosure) • C
 ustomer Privacy
• T
 raining and
Education • Economic
Performance
• Indirect
Economic Impact
Customers,
Employees and
Regulators Customers and
Employees Customers,
Employees and
Regulators Employees,
Investors and
Community
COVERAGE
• Regulatory Compliance
• Anti-Fraud
• Whistle-blowing
• Anti-Bribery
& Corruption
• Corporate Risk
Focused Organisation
GRI TITLES/ASPECTS
• Anti-Corruption
IMPACT AND BOUNDARIES
All stakeholders
across our businesses
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OCBC ANNUAL REPORT 2017