<IR>: Integrated Reporting Framework
GRI: Global Reporting Initiative Standards for Sustainability Reporting (GRI Standards)
IFRS: International Financial Reporting Standards
SASB: Sustainability Accounting Standards Board (Infrastructure Sector – Electric Utilities & Power Generators)
TCFD: Task Force on Climate-related Financial Disclosures
UNGP-BHR: United Nations Guiding Principles on Business and Human Rights
UN SDGs: United Nations Sustainable Development Goals
| Material Topic |
Definition | <IR> | GRI | IFRS S1 | IFRS S2 | SASB | TCFD | UNGP-BHR | UN SGDs | Section |
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| ENVIRONMENT | ||||||||||
| Materials | Inputs used to manufacture and package an organization’s products and services can be non-renewable materials, such as minerals, metals, oil, gas, or coal; or renewable materials, such as wood or water. Both renewable and non-renewable materials can be composed of virgin or recycled input materials. | Natural Capital | - | - | - | - | - |
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| Energy | Refers to how an organization can consume energy in various forms, such as fuel, electricity, heating, cooling or steam. Energy can be self-generated or purchased from external sources and it can come from renewable sources (such as wind, hydro or solar) or from non-renewable sources (such as coal, petroleum or natural gas). | Natural Capital |
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| Water and Effluents | Refers to the amount of water withdrawn and consumed by an organization and the quality of its discharges can impact the functioning of the ecosystem in numerous ways. Direct impacts on a catchment can have wider impacts on the quality of life in an area, including social and economic consequences for local communities and indigenous peoples. | Natural Capital |
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| Emissions | Emissions into air, which are the discharge of substances from a source into the atmosphere. Types of emissions include: GHG, ozone-depleting substances (ODS), and nitrogen oxides (NOx) and sulfur oxides (SOx), among other significant air pollutants. | Natural Capital |
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| Waste | Generated in the organization's own activities, for example, during the production of its products and delivery of services. It can also be generated by entities upstream and downstream in the organization's value chain, for example, when suppliers process materials that are later used or procured by the organization, or when consumers use the services or discard the products that the organization sells to them. Waste can have significant negative impacts on the environment and human health when inadequately managed. These impacts often extend beyond locations where waste is generated and discarded. The resources and materials contained in waste that is incinerated or land filled are lost to future use, which accelerates their depletion. | Natural Capital |
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| Climate Action | Refers to stepped-up efforts to reduce greenhouse gas emissions and strengthen resilience and adaptive capacity to climate-induced impacts, including: climate-related hazards in all countries; integrating climate change measures into national policies, strategies and planning; and improving education, awareness-raising and human and institutional capacity with respect to climate change mitigation, adaptation, impact reduction and early warning systems. | Natural Capital Risk and Opportunities |
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Greenhouse Gas Emissions & Energy Resource Planning
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Last part of Chairman's Message |
| Environmental Compliance | Refers to an organization's compliance with environmental laws and/or regulations. This includes compliance with international declarations, conventions and treaties, as well as national, sub-national, regional, and local regulations. | Natural Capital |
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| Biodiversity | Protecting biological diversity is important for ensuring the survival of plant and animal species, genetic diversity, and natural ecosystems. In addition, natural ecosystems provide clean water and air, and contribute to food security and human health. Biodiversity also contributes directly to local livelihoods, making it essential for achieving poverty reduction, and thus, sustainable development. | Natural Capital |
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| SOCIAL | ||||||||||
| Employment | Refers to an organization's approach to employment or job creation, that is, an organization's approach to hiring, recruitment, retention and related practices, and the working conditions it provides. It also covers the employment and working conditions in an organization's supply chain. | Human Capital |
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| Labor / Management Relations | Refers to an organization's consultative practices with employees and their representatives, including its approach to communicating significant operational changes. | Human Capital |
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| Occupational Safety & Health | Healthy and safe work conditions involve both prevention of physical and mental harm, and promotion of workers' health. Prevention of harm and promotion of health require an organization to demonstrate commitment to workers' health and safety. They also require the organization to engage workers in the development, implementation, and performance evaluation of an occupational health and safety policy, management system and programs that are appropriate to the organization's size and activities. | Human Capital Social & Relationship Capital |
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| Local Communities | Refers to individuals or groups of individuals living or working in areas that are affected or that could be affected by the organization's activities. The local community can range from those living adjacent to the organization's operations to those living at a distance. An organization's activities and infrastructure can have significant economic, social, cultural, and/or environmental impacts on local communities. Where possible, organizations are expected to anticipate and avoid negative impacts on local communities. | Social & Relationship Capital |
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| Supplier Social Assessment | Impacts the organization either causes or contributes to, or that are directly linked to its activities, products, or services by its relationship with a supplier. | Social & Relationship Capital |
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| Customer Health and Safety | Refers to an organization's systematic efforts to address health and safety across the life cycle of a product or service, and its adherence to customer health and safety regulations and voluntary codes. | Social & Relationship Capital |
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| Customer Privacy | Includes losses of customer data and breaches of customer privacy. These can result from non-compliance with existing laws, regulations and/or other voluntary standards regarding the protection of customer privacy | Social & Relationship Capital Intellectual Capital |
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| Customer Relationships | Refers to managing interactions with previous, current, and potential customers. Companies that manage their customer relations well develop a customer experience strategy that strengthens customer retention and promotes customer acquisition. | Social & Relationship Capital | - | - | - | - | - | - |
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| Stakeholder Engagement | Refers to the process through which an organization actively communicates and collaborates with individuals, groups, or entities who have a vested interest or concern in the organization's activities, decisions, or outcomes. It involves seeking input, feedback, and dialogue to better understand and address the needs, expectations, and concerns of these stakeholders. | Social & Relationship Capital |
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| Power Supply Availability | Refers to the consistent and uninterrupted availability of electrical power or electricity to meet the needs of consumers, businesses, and industries within a specific area or region. It signifies the reliability and stability of the electrical grid or power infrastructure, ensuring that electricity is consistently accessible to users without frequent interruption, blackouts, or voltage fluctuations. | Manufactured Capital |
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| Human Rights | Rights inherent to all human beings, which include, at a minimum, the rights set out in the United Nations (UN) International Bill of Human Rights and the principles concerning fundamental rights set out in the International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work. | Human Capital Social & Relationship Capital |
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| Training and Education | Refers to an organization's approach to training and upgrading employee skills, and performance and career development reviews. It also includes transition assistance programs to facilitate continued employability, and the management of career endings due to retirement or termination. | Human Capital |
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| Diversity and Equal Opportunity | Refers to an organization's approach to diversity and equal opportunity at work. When an organization actively promotes diversity and equality at work, it can generate significant benefits for both the organization and workers. For example, the organization can gain access to a larger and more diverse set of potential workers. These benefits also flow through to society in general, as greater equality promotes social stability and supports further economic development. | Human Capital |
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| GOVERNANCE | ||||||||||
| Economic Performance | Includes the economic value generated and distributed (EVG&D) by an organization; its defined benefit plan obligations; the financial assistance it receives from any government; and the financial implications of climate change. | Financial Capital Human Capital |
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| Market Presence | Refers to an organization's contribution to economic development in the local areas or communities where it operates. For example, this can include the organization's approaches to remuneration or local hiring. | Financial Capital |
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| Indirect Economic Impact | Includes the impacts of an organization's infrastructure investments and services supported. | Financial Capital Social & Relationshp Capital |
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| Tax | Refers to important sources of government revenue and are central to the fiscal policy and macroeconomic stability of countries. They are acknowledged by the United Nations to play avital role in achieving the Sustainable Development Goals. They are also a key mechanism by which organizations contribute to the economies of the countries in which they operate. Taxes paid by an organization reflect that profitability depends on many factors external to the organization, including access to workers, markets, public infrastructure and services, natural resources, and a public administration. | Financial Capital |
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| Innovation | Refers to the process that an individual or organization undertakes to conceptualize brand new products, processes, and ideas, or to approach existing products, processes, and ideas in new ways. | Intellectual Capital Manufactured Capital |
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| Sustainable Finance | Process of taking ESG considerations into account when making investment decisions. | Financial Capital | - | - | - | - | - | - | - | |
| Business Ethics and Conduct | Application of ethical values to business behavior. | Governance Human Capital |
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| Corporate Governance | Refers to the system of rules, practices and processes by which a company is directed and controlled. | Governance |
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| Risk Management | Process of identifying, assessing and controlling threats to an organization's capital and earnings. | Human Capital Risks & Opportunities |
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| Data Privacy | Branch of data management that deals with handling personal data in compliance with data protection laws, regulations, and general privacy best practices. | Human Capital Intellectual Capital Governance |
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| Anti-corruption/Bribery | Refers to actions of an organization or its employees that can result in collusion with potential competitors, with the purpose of limiting the effects of market competition. This can include fixing prices or coordinating bids, creating market or output restrictions, imposing geographic quotas, and allocating customers, suppliers, geographic areas, or product lines. It also addresses antitrust and monopoly practices, which are actions of an organization that can result in collusion to erect barriers for entry to the sector, or to otherwise prevent competition. This can include unfair business practices, abuse of market position, cartels, anticompetitive mergers, and price-fixing. | Financial Capital Social & Relationship Capital |
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The following table shows the main indicators required by the Value Reporting Foundation - SASB Standard in relation to the primary sector of reference for First Gen: Infrastructure - “Electric Utilities & Power Generators Sector”. The table shows, where present, the reference to the GRI disclosure with which the disclosure required by SASB was covered as well as references to the pages of the 2024 First Gen Integrated Report.
| Topic | Code | Accounting Metric | 2024 | 2023 | 2022 | GRI Standards |
|---|---|---|---|---|---|---|
| Greenhouse Gas Emissions & Energy Resource Planning | IF-EU-110a.1 | (1) Gross global Scope 1 emissions (MtCO2e) | 5.33 | 6.97 | 6.61 | 305-1 |
| (2) Percentage covered under emissions-limiting regulations (%) | Not Applicable. The Company is not operating under any emissions limiting or reporting regulation. | |||||
| (3) Percentage covered under emissions-reporting regulations (%) | ||||||
| IF-EU-110a.2 | GHG emissions associated with power deliveries | Not applicable. The company is not involved in the transmission business. | - | |||
| IF-EU-110a.3 | Description of long-term and short-term strategy or plan to manage scope 1 emissions, emission-reduction targets, and an analysis of performance v. those targets |
Refer to the 2024 IR sections: |
Refer to the 2023 IR sections: |
Refer to the 2022 IR sections: |
201-2 | |
| Air Quality | IF-EU-120a.1 | Air emissions of the following pollutants: | ||||
| (1) NOx (excluding N2O) [Mt] | 2,524.62 | 3,476.49 | 3,642.32 | 305-7 | ||
| (2) SOx [Mt] | 282.83 | 237.40 | 355.31 | |||
| (3) particulate matter (PM10) [Mt] | 147.88 | 204.04 | 147.05 | |||
| (4) lead (Pb) [Mt] | 0.00 | 0.00 | 0.00 | |||
| (5) mercury (Hg) [Mt] | 0.00 | 0.00 | 0.00 | |||
| (6) Percentage of each in or near areas of dense population | 100.00% | 100.00% | 100.00% | - | ||
| Water Management | IF-EU-140a.1 | (1) Total water withdrawn (Mm3) | 3,290.27 | 2,553.39 | 2,831.65 | 303-3a |
| (2) Total water consumed (Mm3) | 20.84 | 2.15 | 2.42 | 303-5a | ||
| (3) Percentage of each in regions with High or Extremely High Baseline Water Stress (%) | 0.00% | 0.00% | 0.00% | 303-3b 303-5b |
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| IF-EU-140a.2 | Number of incidents of non-compliance associated with water quantity and/or quality permits, standards, and regulations | 0 | 0 | 0 | 303-2 2-27 |
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| IF-EU-140a.3 | Description of water management risks and discussion of strategies and practices to mitigate those risks | Refer to the 2024 IR section:
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Refer to the 2023 IR section:
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Refer to the 2022 section IR:
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303-1 | |
| Coal Ash Management | IF-EU-150a.1 | 1) Amount of coal combustion residuals (CCR) generated (Mt) | Not applicable. The Company does not own any coal plants. | 306-3 | ||
| 2) Percentage recycled (%) | 306-4 | |||||
| IF-EU-150a.2 | Total number of coal combustion residual (CCR) impoundments, broken down by hazard potential | |||||
| Energy Affordability | IF-EU-240a.1 | Average electric rate for customers | The retail electricity rate is subject to confidentiality | - | ||
| IF-EU-240a.2 | Typical monthly electric bill for residential customers for (1) 500 kWh and (2) 1,000 kWh of electricity delivered per month | |||||
| IF-EU-240a.3 | 1) Number of residential customer electric disconnections for non-payment | Not applicable. The Company is not involved in the distribution business of residential customers. | EU27 | |||
| 2) percentage reconnected within 30 days | ||||||
| IF-EU-240a.4 | Discussion of impact of external factors on customer affordability of electricity, including the economic conditions of the service territory | DMA EU (former EU7)
DMA EU (former EU23) |
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| Workforce Health & Safety | IF-EU-320a.1 | (1) Total recordable incident rate (TRIR) | 0.38 | 0.18 | 0.16 | 403.9 |
| (2) Fatality rate | 0.03 | 0.14 | 0.00 | |||
| (3) Near miss frequency rate (NMFR) | 0.69 | 0.30 | 0.39 | |||
| End-Use Efficiency & Demand | IF-EU-420a.1 | Percentage of electric utility revenues from rate structures that (1) are decoupled and (2) contain a lost revenue adjustment mechanism (LRAM) | Not applicable since revenue decoupling and lost revenue adjustment mechanism are not implemented in the Philippines. We have, however, the Energy Efficiency and Conservation Act (Republic Act No 11285), which institutionalizes energy efficiency and conservation, enhances the efficient use of energy, and grants incentives to energy efficiency and conservation projects. First Gen, through Pi Energy Inc., supports the Energy Efficiency and Conservation Act (EECA) by offering Energy Audits and Remote Energy Monitoring System to our customers to help them identify energy efficiency measures, track consumption, and monitor our facilities' energy performance. | - | ||
| IF-EU-420a.2 | Percentage of electric load served by smart grid technology | Not applicable since First Gen does not offer smart grid technology. | - | |||
| IF-EU-420a.3 | Customer electricity savings from efficiency measures, by market (MWh) | Not applicable since we can only determine the potential MWh savings of the customers. | - | |||
| Nuclear Safety & Emergency Mangement | IF-EU-540a.1 | Total number of nuclear power units, broken down by results of most recent independent safety review | 0 | 0 | 0 | - |
| IF-EU-540a.2 | Description of efforts to manage nuclear safety and emergency preparedness | Not applicable. The Company does not own nuclear power plants. | DMA EU former EU21 |
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| Grid Resiliency | IF-EU-550a.2 | 1) System Average Interruption Duration Index (SAIDI) | Not Applicable. The Company is not involved in the distribution business. | EU 28 | ||
| 2) System Average Interruption Frequency Index (SAIFI) | ||||||
| 3) Customer Average Interruption Duration Index (CAIDI), inclusive of major event days | ||||||
| IF-EU-000.A | Number of customers served: | EU 3 | ||||
| (1) residential | 0 | 0 | 0 | |||
| (2) commercial | 0 | 0 | 0 | |||
| (3) industrial | 0 | 0 | 0 | |||
| (4) all other retail customers | 199 | 182 | 215 | |||
| (5) wholesale customers | 26 | 23 | 28 | |||
| IF-EU-000.B | Total electricity (MWh) delivered to*: | - | ||||
| (1) residential | 0 | 0 | 0 | |||
| (2) commercial | 0 | 0 | 0 | |||
| (3) industrial | 0 | 0 | 0 | |||
| (4) all other retail customers | 14,537,341.63 | - | - | |||
| (5) wholesale customers | ||||||
| IF-EU-000.C | Length of transmission and distribution lines (km) | Not Applicable. The Company is not involved in the transmission and distribution business. | EU 4 | |||
| IF-EU-000.D | Total electricity generated (MWh) | 18,293,360 | 21,570,800 | 22,352,400 | EU 2 | |
| Energy Source | % of Total Energy Generated | |||||
| Natural Gas | 58.28 | 64.45 | 63.50 | |||
| Hydro | 3.51 | 1.21 | 1.39 | |||
| Geothermal | 36.63 | 32.59 | 31.65 | |||
| Wind | 1.50 | 1.69 | 1.39 | |||
| Solar | 0.07 | 0.07 | 0.07 | |||
| IF-EU-000.E | Total wholesale electricity purchased (WMh)* | 212,182.15 | - | - | - | |
| GRI Standard | Disclosure | Location |
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| GRI 2: General Disclosures 2021 | 2-1 Organizational details | |
| 2-2 Entities included in the organization's sustainability reporting | ||
| 2-3 Reporting period, frequency and contact point | ||
| 2-4 Restatements of information | ||
| 2-5 External assurance |
Annex 1: Limited ESG Data Assurance Statement Annex 2: Third-Party Review of <IR> Content Elements and Guiding Principles |
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| 2-6 Activities, value chain and other business relationships | ||
| 2-7 Employees | ||
| 2-8 Workers who are not employees | ||
| 2-9 Governance structure and composition | ||
| 2-10 Nomination and selection of the highest governance body | ||
| 2-11 Chair of the highest governance body | ||
| 2-12 Role of the highest governance body in overseeing the management of impacts | ||
| 2-13 Delegation of responsibility for managing impacts | ||
| 2-14 Role of the highest governance body in sustainability reporting | ||
| 2-15 Conflict of interest | ||
| 2-16 Communication of critical concerns | ||
| 2-17 Collective knowledge of the highest governance body | ||
| 2-18 Evaluation of the performance of the highest governance body | ||
| 2-19 Remuneration policies | ||
| 2-20 Process to determine remuneration | ||
| 2-22 Statement on sustainable development strategy | ||
| 2-23 Policy commitments | ||
| 2-24 Embedding policy commitments | ||
| 2-25 Processes to remediate negative impacts | ||
| 2-26 Mechanisms for seeking advice and raising concerns | ||
| 2-27 Compliance with laws and regulations | ||
| 2-28 Membership associations | ||
| 2-29 Approach to Stakeholder engagement | ||
| GRI 3: Material Topics 2021 | 3-1 Process to determine material topics | |
| 3-2 List of material topics | ||
| 3-3 Management of material topics | ||
| GRI 201: Economic Performance 2016 | 201-1 Direct economic value generated and distributed | |
| 201-2 Financial implications and other risks and opportunities due to climate change | ||
| GRI 202: Market Presence 2016 | 202-1 Ratios of standard entry level wage by gender compared to local minimum wage | |
| GRI 203: Indirect Economic Impacts 2016 | 203-1 Infrastructure investments and services supported | |
| 203-2 Significant indirect economic impacts | ||
| GRI 204: Procurement Practices 2016 | 204-1 Proportion of spending on local suppliers | |
| GRI 205: Anti-corruption 2016 | 205-2 Communication and training about anti-corruption policies and procedures | |
| 205-3 Confirmed incidents of corruption and actions taken | ||
| GRI 207: Tax 2019 | 207-1: Approach to tax | |
| 207-2: Tax governance, control, and risk management | ||
| 207-3: Stakeholder engagement and management of concerns related to tax | ||
| 207-4: Country-by-country reporting | ||
| GRI 301: Materials 2016 | 301-1 Materials used by weight or volume | |
| GRI 302: Energy 2016 | 302-1 Energy consumption within the organization | |
| 302-4 Reduction of energy consumption | ||
| GRI 303: Water and Effluents 2018 | 303-1 Interactions with water as a shared resource | |
| 303-2 Management of water discharge-related impacts | ||
| 303-3 Water withdrawal | ||
| 303-4 Water discharge | ||
| 303-5 Water consumption | ||
| GRI 304: Biodiversity 2016 | 304-1 Operational sites owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas | |
| 304-2 Significant impacts of activities, products and services on biodiversity | ||
| 304-3 Habitats protected or restored | ||
| 304-4 IUCN Red List species and national conservation list species with habitats in areas affected by operations | ||
| GRI 305: Emissions 2016 | 305-1 Direct (Scope 1) GHG emissions | |
| 305-2 Energy indirect (Scope 2) GHG emissions | ||
| 305-3 Other indirect (Scope 3) GHG emissions | ||
| 305-4 GHG emissions intensity | ||
| 305-5 Reduction of GHG emissions | ||
| 305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions | ||
| GRI 306: Waste 2020 | 306-2 Management of significant waste-related impacts | |
| 306-3 Waste generated | ||
| 306-4 Waste diverted from disposal | ||
| 306-5 Water directed to disposal | ||
| GRI 401: Employment 2016 | 401-1 New employee hires and employee turnover | |
| 401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees | ||
| GRI 402: Labor/Management Relations 2016 | 402-1 Minimum notice periods regarding operational changes | |
| GRI 403: Occupational Health and Safety 2018 | 403-1 Occupational health and safety management system | |
| 403-2 Hazard identification, risk assessment, and incident investigation | ||
| 403-3 Occupational health services | ||
| 403-4 Worker participation, consultation, and communication on occupational health and safety | ||
| 403-5 Worker training on occupational health and safety | ||
| 403-6 Promotion of worker health | ||
| 403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships | ||
| 403-8 Workers covered by an occupational health and safety management system | ||
| 403-9 Work-related injuries | ||
| 403-10 Work-related ill health | ||
| GRI 404: Training and Education 2016 | 404-1 Average hours of training per year per employee | |
| 404-2 Programs for upgrading employee skills and transition assistance programs | ||
| GRI 405: Diversity and Equal Opportunity 2016 | 405-1 Diversity of governance bodies and employees | |
| 405-2 Ratio of basic salary and remuneration of women to men | ||
| GRI 409: Forced or Compulsory Labor 2016 | 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor | |
| GRI 411: Rights of Indigenous Peoples 2016 | 411-1 Incidents of violations involving rights of indigenous peoples | |
| GRI 413: Local Communities 2016 | 413-1 Operations with local community engagement, impact assessments, and development programs | |
| GRI 414: Supplier Social Assessment 2016 | 414-1 New suppliers that were screened using social criteria | |
| 414-2 Negative social impacts in the supply chain and actions taken | ||
| GRI 416: Customer Health and Safety 2016 | 416-1 Assessment of the health and safety impacts of product and service categories | |
| GRI 418: Customer Privacy 2016 | 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data |