Our Sustainability Framework integrates our CSR goals, philosophies and values with the quantifiable approach of ESG reporting.
Atlas Pearls has a longstanding commitment to supporting the local communities around our farms and maintaining a strong relationship with all our stakeholders. To improve the transparency around our operations and help in monitoring our impact on the environment and in the local communities we operate, we have established sustainability management and reporting processes. These processes aim to help us communicate to our stakeholders and ensure continuous improvement in terms of our material sustainability issues. The reporting builds on existing information concerning our impact and ongoing initiatives around the environmental, social and governance (ESG) aspects of our operations.
Our first reporting cycle focused on determining our material ESG topics and developing a framework for disclosure and communication. Through producing this report, we are setting up and refining our management process around sustainability reporting and will continue to improve on our data quality.
To understand our material environmental, social and governance (ESG) topics, we underwent a materiality assessment process with the support of specialist ESG external consultants. This process provided
key insights into the ESG topics important to our stakeholders, as well as those that could have significant impact, both positive and negative, on our business model and value drivers such as revenue growth, margins, required capital and risk.
As part of the materiality process in developing this sustainability report, we undertook a robust stakeholder engagement exercise including a survey and internal workshop.
The survey responses were aggregated to determine which topics are material to Atlas Pearls from a stakeholder perspective. We also held a workshop with key management personnel to determine which of the environmental, social, and governance topics may present a material risk to the company, using a standardised likelihood and consequence risk concept. The results of the survey and the workshop were then synthesised to determine our material ESG topics and form a materiality matrix. This is illustrated in the table below.