Our Stakeholders & its Engagement framework

Stakeholder engagement is integral to our Sustainability Framework, ensuring that we align business decisions with stakeholder expectations and long-term value creation. Through a structured Materiality Assessment process, we identify, prioritize, and engage with stakeholders to address their concerns and foster mutual growth.

Our engagement process follows a multi-stage approach:

1. By Identification & Prioritization we classify stakeholders based on their relevance to our business and their potential impact.
2. Engagement Mechanisms utilize diverse channels to interact with stakeholders, ensuring transparent and meaningful dialogue.
3. Expectation Management proactively address concerns, integrating stakeholder insights into our sustainability strategy.

We maintain timely, accurate, and adequate disclosure of material information, in compliance with Regulation 30(4)(ii) of SEBI. Our Policy for Determination of Materiality and Disclosure of Material Events ensures:

• Well-informed Investment Decisions so that investors receive clear, timely, and relevant information to make informed choices.
• Through Continuous & Accurate Disclosure, all material events are disclosed transparently, aligning with regulatory standards.
• Sensitive information is safeguarded with confidentiality & compliance while meeting disclosure obligations.

Our approach to Materiality

Materiality Assessment is a strategic process that ensures our sustainability priorities align with business objectives and stakeholder expectations. Conducted in accordance with GRI 2021 standards, our assessment identifies key ESG focus areas essential for long-term business resilience and responsible growth.

GAIL adopts a multi-stage process to assess material topics, ensuring alignment with international sustainability benchmarks:

• Stakeholder-Centric Analysis for engaging key stakeholders through materiality surveys and one-on-one discussions to capture diverse perspectives.
• Sector-Specific Framework to incorporate global best practices from IPIECA, IFC Performance Standards, and IFRS to ensure a comprehensive evaluation.
• Independent Third-Party Validation by partnering with accredited agencies to conduct an objective assessment based on national and international standards.
• Materiality findings are reviewed and analyzed by the Sustainable Development Committee (SDC) of the Board, ensuring strategic integration into corporate decision-making.

Double Materiality

GAIL adopts Double Materiality to assess both financial impacts of ESG factors and our business’s impact on the environment and society.

• Financial Materiality for evaluating ESG risks and opportunities affecting GAIL’s financial stability and long-term growth.
• Environmental & Social Materiality to assess how our operations influence the environment and communities

Link: Sustainability Report 2023-24 https://www.gailonline.com/SBReports.html