259994 Phoenix Energy Responsible Business Report 2025.pdf

Responsible Business Report 2025

Material Topics Materiality in Environment, Social & Governance (‘ESG’), refers to the business importance, financial significance, and stakeholder value of a specific ESG topic. On a regular basis Phoenix reviews the relevance of individual ESG topics and assigns a materiality level for each topic:

No Relevance

Low

Medium

High

The process for assigning levels of materiality for each ESG topic includes Management’s internal assessment of materiality as well as incorporating the views of relevant stakeholders, including views from shareholders, suppliers and employees. The appropriateness of Phoenix’s assessment of material ESG topics is also cross checked against independent external ESG tools tailored for Phoenix’s industry, operations and geographical location (e.g. ESG materiality assessment tool within the GRESB Global ESG Benchmarking Assessment). Through these assessments and discussions, we have strengthened climate-related intelligence across our leadership, operational, and technical teams, driving internal change and embedding climate considerations into decision-making processes at all levels. This approach enhances our resilience and positions us as a responsible business, ready to tackle future challenges.

Material ESG topics1: Environment

Social

Governance

Audit Committee structure

Air pollution

Child labour

Low

Medium

No Relevance

Board composition

Biodiversity & habitat protection

Community development

Medium

Medium

Medium

Bribery prevention

Climate Change ('Net Zero')

Customer satisfaction

Low

High

Medium

Conflicts of Interest

Contamination

Employee engagement

Low

No Relevance

Medium

Cybersecurity

Deforestation

Equality, Diversity & Inclusion

Medium

No Relevance

High

Data protection & Privacy

Energy

Forced or Compulsory Labour

Medium

Medium

Low

Delegated Authority

Greenhouse gas emissions

Freedom of Association

Low

High

Low

Ethical business practices

Hazardous Substances

Health & safety: Employees

Medium

Medium

High

ESG Oversight

Light pollution

Health & safety: Customers

Medium

No Relevance

High

Executive compensation

Noise pollution

Health & safety: Community

Low

Low

High

Fiduciary Duty

Sourcing of materials

Health & safety: Contractors

Low

Medium

High

Fraud prevention and fraud response

Use of paper

Health & safety: Supply chain

Low

Medium

Low

Independence of the Board Chair

Waste produced

Health & wellbeing: Employees

Medium

Medium

Medium

Lobbying activities

Water pollution

Local Employment

Low

Medium

Low

Money laundering

Water use

Staff development & training

No Relevance

Medium

Low

Resilience to catastrophe/ disaster

Political contributions

Safe working conditions

High

High

Low

Remuneration Committee independence

Social Enterprise Partnering

Low

Low

Stakeholder relations

Medium

Shareholder Rights

Low

Tax evasion prevention

Low

Whistleblower protection

Medium

1 There have been no changes in materiality since YE 2023.

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