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Materiality Revisited |
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SEGRO prioritises its Corporate Responsibility strategy to focus on the company’s most material Corporate Responsibility impacts or those impacts that could make a major difference to performance. |
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These material impacts are listed in the red quadrant below.
SEGRO Materiality Matrix |
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Climate change adaptation has risen rapidly up the corporate agenda and it’s positioning in the matrix does not reflect SEGRO’s current thinking on this important issue. We are committed to reviewing our material impacts in the near future, incorporating stakeholder considerations where appropriate. |
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Mindful of the importance of reviewing the materiality of SEGRO’s impacts on an ongoing basis, we commissioned our Corporate Responsibility consultants Upstream to carry out a peer benchmarking exercise to identify the Corporate Responsibility strategy trends of our property sector peers, as well as some of our key occupiers and suppliers. The report highlighted emerging Corporate Responsibility themes and target focus areas for the industry and the findings fed directly into our own target setting process for 2008.
Other drivers that have shaped our Corporate Responsibility thinking over the year include: |
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The Energy Performance of Buildings Directive (encompassing Energy Performance Certificates). |
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Planning regulations such as the Merton Rule3, Planning Policy Statement: Planning and Climate Change (Supplement)4. |
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The proposed Community Infrastructure Levy5. |
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The Company’s Act (2006), which stimulated a review of our corporate governance procedures and frameworks. |
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Longer term government measures such as the proposed Climate Change Bill, Carbon Reduction Commitment outlined in the 2007 Energy White Paper and the First Draft of the Code for Non-Domestic Buildings. SEGRO assisted with this consultation paper through its involvement with the UK Green Building Council. |
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Looking further ahead, we are conscious that we must work with our stakeholders to continuously evolve our understanding of materiality. Throughout this 2007 report we have tried to provide a ‘stakeholder view’ – impressions from individuals on their contact with SEGRO. These views have been gathered through direct communication with stakeholders during 2007. However, we recognise that more systematic stakeholder engagement is required to meet with best practice, and we will look to build this into our Corporate Responsibility strategy in the coming years. |
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3 |
Guidance in Planning Policy Statement 22 states that planning authorities: “may include policies in local development documents that require a percentage of the energy to be used in new residential, commercial or industrial developments to come from on-site renewable energy developments”. Such policies are known as the “Merton Rule”, a reference to the policy adopted in 2003 by the London Borough of Merton in its Unitary Development Plan. See www.communities.gov.uk. |
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Planning and climate change sets out how planning authorities should help shape the build environment to reduce carbon emissions and ensure buildings are resilient to climate change. See www.communities.gov.uk. |
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A government proposal to harness the value of an increased range of planning permissions to generate additional infrastructure funding and thereby work housing growth. See www.communities.gov.uk. |
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