Delivering Our Strategy - The Key Matters We Focus On
Our integrated approach to running our business and how we report on it requires us to assess all the matters that are material to the long-term success of Pacific Basin and the sustainable growth of its business and operations. This exercise - an analysis of opportunities and risks and how to balance them - also assists us in developing our strategic objectives.
Sustainability is a key element of each of these material matters, and this is the driving force behind our growth and long-term success.
What is material is defined as a matter that would impact our senior management, Board and Board Committees' decisions, applying several criteria such as:
- the potential economic impact of a matter on the business and its ability to create value over the short, medium and long term;
- our main stakeholders'' concern with a matter and its likely effect on them; and
- the extent to which a matter is likely to grow in significance and impact in the future.
Through this process, six material matters were identified, all of which are key components of our business model (how we employ our Capitals to create value) and key strategic issues driving the performance and long-term viability of the Group.