In 2012, we conducted a materiality assessment workshop to identify issues that are pertinent to our businesses and significant to our stakeholders. The issues were identified by reviewing our peers and the Global Reporting Initiative (GRI) framework, including the Construction and Real Estate Sector Supplement.
The workshop, facilitated by an independent sustainability expert, was attended by the Management team and other key executives from various departments. We prioritised the issues according to the level of stakeholder concern and their impact on our property development and investment businesses. The materiality assessment adopted the AA1000AS guidelines, with issues identified and prioritised on a 5×5 matrix derived from the AA1000 5-Part criteria. The sustainability context for the sector across the value chain, and the regions that we operate in was considered in both the identification and prioritisation stages.
The materiality assessment workshop was conducted for the property development and investment businesses globally. For the purpose of reporting, we only include the issues material to our Singapore operations.
We expanded our reporting scope in 2015 to include our hospitality business in Singapore. An additional materiality assessment workshop was conducted for the hotel operations globally, using the same methodology.
After the workshop, two meetings were held by the Sustainability Coordinating Committee to review key material issues aggregated at Group level, for the reporting scope this year. The key material issues for the Group were approved by the Management.
The outcome of these assessments was a selection of 12 key material issues for the Group, where three of them were deemed particularly relevant mainly for hospitality.
It is noted that United Industrial Corporation Limited (“UIC”) is excluded from the materiality process and it reports on sustainability separately. For more information, please refer to UIC’s Sustainability Report at http://www.uic.com.sg/investor-relations/sustainability-report/.
The sustainability report, together with our material issues, are reviewed on an annual basis by the Board and Management. Considerations for the key material issues are aligned to, and progressively embedded into our business operations such as strategy development, ERM, ISO 14001, policies and standard operating procedures.
102-46: Defining report content and topic Boundaries
102-47: List of material topics