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| At SEGRO, we believe our stakeholders have a right to expect us to account for our performance in respect of the potentially significant impacts that arise from our business activities which we can do something about, directly or indirectly. Therefore, in 2006 we undertook to review our most material impact areas as part of an internal review of our overall CR strategy. |
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The concept of ‘materiality’ arose from mainstream financial reporting, but is now widely used by CR specialists to refer to environmental, social and economic issues that may impact on a company’s bottom line. Indeed, it is now considered best practice for CR reports to focus mainly on that which is ‘most significant’ to a company and/or its stakeholders.
GRI recognises that all organisations will use differing methods or processes for assessing materiality, and having considered the materiality matrix proposed by GRI, as well as that used by other companies preparing sustainability reports, SEGRO arrived at a materiality process of its own. Given the nature of our business, and in particular the significant extent of outsourcing that we undertake, and the fact that a large majority of the sustainability impacts associated with property investment arise from customers’ own activities, we identified two principal criteria affecting materiality for SEGRO:
• The significance of business risk or opportunity represented by the issue in question
• SEGRO’s level of control or influence over managing the issue in question
These two criteria then allowed the creation of our own ‘materiality matrix’ onto which we plotted the various sustainability impacts of the property lifecycle, in an interactive internal workshop in January 2007. The results are illustrated in the diagram below.
Consequently, our most material impact areas, listed in the top right hand box in the matrix above, are those that we focus on in this printed CR Report. We have included procurement and supply chain as an impact area in this report, despite it not being listed in the same box, principally due to our construction activities now being outsourced and representing significant environmental and social risks in our supply chain. It should be noted that information and data on some of our less material impacts (e.g. water management) continues to be available on our website.
The following pages outline our 11 most material impact areas. |
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“Material issues are topics and indicators that reflect the organisation’s significant economic, environmental, and social impacts, or those that would substantively influence the assessments and decisions of stakeholders.”
Source: GRI G3 Sustainability Reporting Guidelines, October 2006 |
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