OBI Pharma uses the considerations outlined in the GRI Standards as the basis for collecting sustainability topics. Following the four-stage materiality assessment process of GRI Standards 2021, the “impact level” serves as the indicator for evaluating the materiality of topics. The company conducts surveys to understand stakeholders’ concerns and the impact level of each issue, while senior executives assess the impact and influence of each topic on the company to gauge the actual and potential significance of external economic, environmental, and social impacts.
In 2023, this process identified 25 sustainability topics, which were reviewed and analyzed through internal meetings and relevant stakeholder departments to determine material topics. Moving forward, the company will continue to adhere to these principles, maintain communication with stakeholders, and annually review material topics to ensure the sustainability report accurately reflects the impact and scope of significant issues on stakeholders and the company.
Analysis of Material Topics
Considering both the “Impact on the Economy, Environment, and Society” and the “Impact on the Company’s Development,” this report evaluates sustainability topics from these two perspectives. Following a cross-assessment, the analysis adheres to principles of completeness, responsiveness, and inclusiveness. It also takes into account the characteristics of the biotechnology industry and the relevance of each topic to the company’s operations. The assessment covers aspects such as corporate governance, economic performance, social responsibility, environmental impact, and product services, identifying material topics that serve as the foundation for the company’s sustainable development.
Boundaries of Material Topics
OBI Pharma analyzes the impact range of material topics from the perspective of the value chain. This approach helps understand the extent of the mutual influence between these key topics and the value chain, while also identifying areas needing improvement. The goal is to eventually expand value chain analysis comprehensively to enhance company value and reduce risks and negative impacts. Currently, all of OBI Pharma’s products are in the research and development stage and are not yet on the market. Reviewing the company’s value chain through the structure of the biotechnology drug development industry, OBI Pharma’s operations focus on new drug development. The upstream involves determining drug composition, while the downstream includes clinical trials. The company categorizes value chain impacts into six groups: upstream impacts on suppliers, research partners, and government; operational impacts on OBI Pharma and investors; and downstream impacts on outsourcing organizations.