Sustainability Report 2024 Materiality Assessment

This document is a Sustainability Report that outlines the materiality assessment process conducted by stc for the year 2024. The report defines material matters as topics that significantly impact an organization’s ability to generate value over time, influencing stakeholder perceptions. The materiality process involved engaging both internal and external stakeholders and assessing industry trends to identify key ESG topics. The report describes how stc refreshed its 2023 materiality assessment, maintaining the same key stakeholders and evaluating the organization’s impact on the economy, environment, and society. A comprehensive stakeholder engagement process led to the identification of 25 ESG topics, which were prioritized to narrow down to 13 material topics deemed significant for sustainability reporting. The report emphasizes stc's commitment to transparency and alignment with global sustainability standards, detailing stakeholder engagement practices and the importance of addressing evolving expectations. The document concludes with an overview of stc's sustainability strategy and its alignment with national and global priorities.