Materiality

We conduct materiality assessment exercises and internal reviews continually to identify, review and prioritise the topics that ensure the success of our business in the short, medium and long term, while also supporting sustainable development.

We anchor our analysis every two years on a comprehensive exercise that combines quantitative and qualitative research to provide a holistic overview of stakeholder expectations, with the results informing our strategic decision-making and reporting framework. This includes an assessment of potential financial effects from risk incidents and/or opportunity events of each material ESG factor, with reference to indicative thresholds from the UOB Group Operational Risk Management Policy’s Risk Impact Criteria. We conduct an internal review in alternate years.

The material ESG factors and materiality matrix are reviewed and approved by our Group Sustainability Committee, Management Executive Committee and Board.