Our approach to responsible business
Our strategy is to operate as a responsible, sustainable business including initiatives that address the four pillars of our approach – our community, people, environmental impact and economic performance.
Our 2021 Responsible Business Report provides an account of our overall sustainability performance from 1 January 2021 to 31 December 2021.
This report should be read in conjunction with the 2021 Responsible Business Data Pack and includes our Global Reporting Initiative (GRI) Content Index, management approach and alignment to the UN Sustainable Development Goals (SDGs).
This report complements other documents in Scentre Group’s (Group) annual reporting suite including our Annual Financial Report, Corporate Governance Statement, Modern Slavery Statement and Reconciliation Action Plan, providing expanded disclosure on our approach to operating as a responsible business, detailing our nonfinancial performance, impacts and opportunities.
The report is prepared in accordance with the GRI’s sustainability reporting guidelines: Core option.
Indicators covering greenhouse gas emissions, water, energy and waste have been externally and independently assured by EY.
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 includes four pillars: our community, people, environment and economic performance. It includes how we deliver our strategic objectives with a responsible mindset while satisfying the needs of stakeholders, including our customers, retail and brand partners, people and investors.
During the year, we completed a materiality review and the areas of focus considered to have a ‘high’ influence and impact for our business and our stakeholders have remained consistent – energy and greenhouse gas (GHG) emissions, water, health, safety and security and employment and labor practices.
This year we have aligned relevant UN Sustainable Development Goals into our reporting approach aligned to the four pillars of our responsible business approach.
Our 2021 report content is informed by these issues as well as our company’s response to COVID-19.
Engaging with internal and external stakeholders supports our understanding of the Group’s most significant responsible business issues.
A number of internal and external stakeholders have an interest in Scentre Group’s business and these are summarised in Our Plan:
- Our customers
- Our brand and retail partners
- Our investors
- Our people
Other stakeholders include suppliers, government, industry bodies, joint venture partners, community partners and the communities in which we operate.
We have established communication channels and feedback loops to maintain awareness and are responsive to our stakeholders’ issues and concerns.
An overview of how we engage with our stakeholders is provided in more detail in the Disclosures of Management Approach (DMA) for each of the four pillars of our Sustainable Business Framework (our community, our people, our environmental impact and our economic performance).
At Scentre Group, governance, ethical business practices and high standards of personal conduct are fundamental to the way we work as a responsible, sustainable business. We regularly review our governance policies and practices in light of current and emerging corporate governance practices, regulatory requirements, market practice and community expectations. During 2020, our corporate governance framework remained consistent with the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (Principles and Recommendations, 4th edition published in February 2019).
Our governance framework is outlined in our Corporate Governance Statement.