Sustainability

Creating extraordindary places, connecting and enriching communities

Download our 2019 Responsible Business Report

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Our approach

Scentre Group has reported annually on sustainability performance since 2015.  Our 2019 Responsible Business Report provides an account of our overall sustainability performance from 1 January 2019 to 31 December 2019.

The report complements our Annual Report and Corporate Governance Statement, providing expanded disclosure on our approach as a responsible business, detailing our non-financial performance, impacts and opportunities.

The report is prepared in accordance with the core option of the Global Reporting Initiative’s (GRI) Standards sustainability reporting guidelines. It includes standard disclosures, is consistent with the principles of the GRI Standards for defining report quality: balance, comparability, accuracy, timeliness, clarity and reliability.

Indicators covering greenhouse gas emissions, water, energy and waste have been externally and independently assured by EY.

We have engaged with stakeholders to conduct an updated materiality review.

The scope of this report covers assets owned and operated by the Group during the reporting period. This report does not include the impacts of all suppliers, service providers and retail partners.

 

The Issues that Matter (Our Materiality)

Our Sustainable Business Framework, launched in 2015, includes four focus areas: Our Community, Our People, Our Environmental Impact and Our Economic Performance. It encapsulates how we create a long-term sustainable business that satisfies the needs of stakeholders, including our people, brand and retail partners, suppliers, communities, customers and securityholders.

As Scentre Group continues to grow and adapt, the topics that matter the most to our stakeholders change. To ensure we continue to deliver on our strategic priorities in a manner consistent with being a responsible business, we have updated our areas of focus to shape this year’s content.

During the reporting period, Scentre Group engaged a third party to work with us and review our most important, or material, sustainability topics.

The materiality process undertaken is aligned to the Global Reporting Initiative (GRI) Standards and follows five phases; identification, importance to stakeholders, impact assessment, prioritisation and validation:

  1. Identification: A range of sustainability topics were identified, based on input from Scentre Group executives and employees and a desktop review of information from regulators, and a select group of industry peers, customers, investors, retail partners and the community.
  2. Stakeholder consultation: Relevant Scentre Group executives were interviewed and a desktop review of relevant information sources was undertaken to determine the importance of the identified material topics on internal and external stakeholder decision making. 
  3. Impact assessment: A preliminary impact assessment was carried out on each material topic identified, based on the environmental, economic and social impacts of Scentre Group’s activities in that area.
  4. Prioritisation: A workshop was held with key members of Scentre Group’s Responsible Business Group and management to review the proposed material topics. The topics were prioritised based on stakeholder ability to influence and each topic’s impact.
  5. Validation: The outcome of the workshop was presented to senior leadership for review and validation. The final list informs this responsible business report, alongside metrics and targets for the most material topics.

 

Our Stakeholders

Engaging with internal and external stakeholders supports our understanding of the Group’s most significant responsible business issues. As an important part of Scentre Group’s materiality review, we undertook a review of our most important stakeholder groups by considering those potentially affected by or interested in the Group. A number of internal and external stakeholders were identified as having an interest in Scentre Group's business:

  • Internal stakeholders: our employees and contractors working in teams across our vertically-integrated business.
  • External stakeholders: customers, retail partners, suppliers, securityholders, industry bodies and the communities in which we serve and operate.

An overview of how we have engaged with our stakeholders on each material issue is provided in more detail in the Disclosures of Management Approach (DMA) from each of our four focus areas of our Sustainable Business Framework (Our Community, Our People, Our Environmental Impact and Our Economic Performance).  

Our stakeholders’ views and interests are important to Scentre Group. This diagram represents how aspects of our environmental, social and economic performance have an impact on each stakeholder group. These material issues were identified through ongoing engagement with our stakeholders and subsequently inform the content of our annual Responsible Business Report. 

 

Relevance to Stakeholders

SCG_RBR_Stakeholderengagement_desktop.pngSCG_RBR_Stakeholderengagement_mobile.png

 

Governance

Scentre Group is committed to ensuring that its policies and practices reflect a high standard of corporate governance. During 2019 the Group’s corporate governance framework remained consistent with the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (published in 2014) (Principles and Recommendations).

Our governance framework is outlined in our Corporate Governance Statement, which can be found on this page of our webiste. This Corporate Governance Statement was approved by the Scentre Group Board and is current as at 18 February 2020.

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