Property Council |
Monday, 1 June 2009 1:05 AM |
Add Comment
Review content for the page 'Materiality' and either post your comments via the blog or send your comments via the link provided below.
Materiality
How do we define the property sector and the scope of corporate responsibility reporting activities?
In short, how do we identify the material metrics that meaningfully account for corporate responsibility performance?
The Concept of Materiality
The Global Reporting Initiative (GRI) provides the following perspective on the concept of materiality:
| The information in a report should cover topics and indicators that reflect the organisation’s significant economic, environmental, and social impacts, or that would substantively influence the assessments and decisions of stakeholders. |
Give the complex nature of this exercise, that materiality can be assessed in terms of the following criteria:
- generic issues/impacts – those that have been recognised as important to society but do not affect, or aren’t affected directly, by a company’s operations;
- value chains issues/impacts – those that are significantly affected by the company’s operations in the ordinary course of business; and
- competitive context issues/impacts – those that significantly affect the underlying drivers of competitiveness in the places the company operates.
It is important to note that boundaries for materiality will differ for individual companies.
Companies should also consider engaging with stakeholders to determine their thresholds.
The Property Universe
The property universe is divided into five spheres of activity that may operate within a corporation: ownership, funds management, facility management, development and construction contracting.
Many Australian companies operate across all five spheres. Consequently, this guide proposes an integrated set of corporate responsibility reporting accounts and metrics that covers each area of activity.
It notes those cases where reporting metrics relate to a discrete sphere of activity.
Property Council |
Monday, 1 June 2009 1:05 AM |
Add Comment
