Our approach to responsible business
Our strategy is to operate as a responsible, sustainable business with initiatives that address the four pillars of our approach – our community, talent, environmental impact and economic performance.
The issues that matter
To identify the responsible business issues that matter most to our business, each year we engage our teams to share the Environmental, Social and Governance (ESG) issues being raised by our internal and external stakeholders.
We also consider material topics raised in external ESG surveys, including MSCI, ISS and Sustainalytics, and leverage guidance from external advisers about environmental trends.
In 2022 the areas considered to have a ‘high’ influence and impact for our business and our stakeholders have remained consistent. They are:
energy and greenhouse gas emissions
waste
water
health and safety
physical and online security
employment and labour practices.
Our Enterprise Risk Management Framework is used to assess the impact of the issues identified.
These issues inform our annual responsible business priorities. Key deliverables are monitored quarterly by Scentre Group’s executive leadership team and endorsed by the Board through its review of our Responsible Business Report.
Stakeholder engagement
Engaging with internal and external stakeholders supports our understanding of our most significant responsible business issues.
A diverse range of internal and external stakeholders have an interest in Scentre Group’s business. Primary stakeholders include:
Our customers
Our business 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 for each of the four pillars of our sustainable business framework, which can be found in the 2022 Responsible Business Data Pack.
Governance
Scentre Group, through its Board and its executives, recognises the need to establish and maintain corporate governance policies and practices which reflect the regulatory environment and the expectations of members and others who deal with the Group. Our Corporate Governance Statement outlines the Group's main corporate governance policies and practices. Corporate governance documentation, including charters and relevant corporate policies and codes, can be downloaded here.
Reporting
Our 2022 Responsible Business Report provides a summary of overall sustainability performance from 1 January 2022 to 31 December 2022.
The report has been prepared with reference to the GRI Standards and should be read in conjunction with the 2022 Responsible Business Data Pack which includes our Global Reporting Initiative (GRI) Content Index, management approach and alignment to the UN Sustainable Development Goals.
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.
Our standalone Climate Statement builds on our public commitment to the Taskforce on Climate-related Financial Disclosures and provides a detailed view of our net zero pathway progress.
Indicators covering greenhouse gas emissions, water, energy and waste have been externally and independently assured by Ernst & Young.
Our 2022 Responsible Business Report complements other documents in Scentre Group’s annual reporting suite, providing expanded disclosure on our approach to operating as a responsible business, detailing our non-financial performance, impacts and opportunities.
Our reporting suite includes:
We pay our respect to Aboriginal and Torres Strait Islander cultures and to their Elders past and present.
We recognise the unique role of Māori as Tangata Whenua of Aotearoa/New Zealand.
