Materiality
Assessment
Materiality Assessment
- For annual performance, please refer to our Sustainability Report 2020.
Assessment Approach
Following the principle of materiality, we conduct a stakeholder-driven assessment every year to identify material issues which reflect the Corporation's significant economic, environmental and social impacts, and/or that substantively influence the assessments and decisions of our stakeholders. This inclusive process allows us to identify and address concerns and priorities commonly shared by the Corporation and our stakeholders.
Our Process
We follow a four-step process to conduct our materiality assessment:
1. Identification of Sustainability Reporting Issues
We refer to the ISO 26000 Guidance on Social Responsibility to identify all possible issues related to sustainability reporting for the Corporation and organise them into six main themes:
- Governance
- Customers
- Employees
- Environment
- Supply Chain
- Community
2. Importance to the Corporation Based on the Enterprise Risk Management System
We evaluate the links between the identified issues and the top enterprise risks listed in our enterprise risk register. This helps us gauge the relative importance of each of the issues to the Corporation. The issues are positioned along the horizontal axis of the Materiality Matrix from left to right reflecting increasing risk.
3. Importance to Stakeholders Based on Stakeholder Engagement
We integrate stakeholder engagement outcomes during the reporting year to determine the relative importance of each of the issues. The issues are then plotted vertically based on the level of stakeholder interest (for example, intense interest expressed by some stakeholders) and/or breadth of interest (for example, large number of stakeholders expressing some interest).
4. Endorsement by the Corporate Responsibility Steering Committee
The overall position of each issue in the matrix determines its level of materiality (low, medium or high). The materiality assessment of all the issues is reviewed and approved by the Corporate Responsibility Steering Committee.
For the most updated materiality matrix and list of material issues, please refer to our Sustainability Report.
The Sustainable Development Goals
The Sustainable Development Goals (“SDGs”) are also considered during our materiality assessment process to facilitate the alignment of our business strategies with global sustainability priorities. We have prioritised SDGs 8, 9 and 11 as our main contribution areas. Our network of railway infrastructure and our residential and commercial properties provide the connectivity required to facilitate economic growth and community prosperity, which are important characteristics of a sustainable city. We also support a number of other SDGs, namely 3, 4, 5, 6, 7, 10, 12, 13 and 15 through our diverse operations.
Detailed links between the SDGs and our material issues can be found in our Sustainability Report.
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