Nan Shan Life conducts an annual review and identification of material sustainability topics closely related to the insurance industry. Following the guidance under GRI 3: Material Topics 2021, the Company assessed materiality from the perspectives of economic, environmental, social, and stakeholder impacts related to Nan Shan.
In 2024, Nan Shan Life identified a total of 6 material topics, 6 general topics, and 4 foundational topics, which serve as the focus areas for sustainability promotion and the basis for disclosure in this year’s report.
In 2024, Nan Shan Life identified a total of 6 material topics, 6 general topics, and 4 foundational topics, which serve as the focus areas for sustainability promotion and the basis for disclosure in this year’s report.
Materiality Identification Process
Material Impact Matrix
Double Materiality Analysis
In addition to assessing the impact of material topics on the external economy, environment, and people, Nan Shan Life began incorporating the assessment of the impact of material topics on the organization’s operations this year by introducing double materiality analysis. Each department evaluated the potential impact of the identified material topics on the organization‘s operations in terms of costs, revenue, reputation, and risk, through a “financial materiality” assessment. By integrating the “materiality of impact on external environment and people” with the “materiality of financial impact on the company,” a double materiality matrix was developed to identify topics that have significant impacts both internally and externally.
