In 2012, we conducted a materiality assessment to identify issues that are pertinent to our business and significant to our stakeholders. We prioritised the issues according to the level of stakeholder concern and their impact on our business. The materiality assessment adopted the AA1000AS guidelines, with issues identified and prioritised on a 5×5 matrix derived from the AA1000 5-Part criteria.
An independent sustainability expert was engaged to facilitate the workshop, which was attended by the Management team and other key executives from various departments. The materiality assessment workshop was conducted for the property business globally. For the purpose of reporting, we only include the issues material to our Singapore operations. Materiality issues are reviewed on an annual basis.
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. 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 hospitality103-1.
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 Aspect boundaries
102-47: Material Aspects identified
103-1: Aspect Boundaries within the organisation for each material Aspect
103-1: Aspect Boundaries outside the organisation for each material Aspect