Dexus Material Issues in Accordance with GRI Requirements
Understanding our key issues
We continuously seek to improve the information we report on, including reviewing material issues to ensure relevance.
Periodically, we formally re-assess our material issues through an extensive process, facilitated by an independent specialist. In the intervening years, including 2017, we conduct an annual management review of our materiality matrix in line with reporting disclosure.
Dexus’s materiality matrix
The issues identified by Dexus and its stakeholders are visually correlated to highlight the influence on stakeholders and their importance to Dexus and the property sector.
We have created a matrix to assist in prioritising the most material issues as the basis for ongoing disclosure. These material issues are a major consideration in the development of our evolving Sustainability Approach.
The material issues align to the key objectives of Dexus's sustainability approach and have informed our FY17 and future commitments.
The materiality matrix also informed the material aspects that have been included within Dexus’s 2017 GRI Index.
2017 GRI Standards material issues index
Dexus's Top 10 material issues reflect priorities for Dexus and our stakeholders, and align with GRI Standards reporting requirements and Dexus's sustainability approach.
The material issues are not prioritised, but organised under the key sustainability objectives.
Relating Dexus’s material issues to the United Nations Sustainable Development Goals
In September 2015, the United Nations member nations voted to adopt a 2030 agenda for sustainable development; a plan of action to transform our world by 2030 for the benefit of people, the planet and prosperity.
The United Nations has outlined 17 Sustainable Development Goals, or SDGs that seek to resolve the most pressing issues facing society, including extreme poverty, hunger, climate change, with the goal to heal and secure our planet.
We acknowledge that we are part of this collective journey and have mapped reviewed our material issues against the broader SDGs to identify those that are most relevant to our activities as an organisation and our geographical area of operation.
|Material issue arranged by sustainability objective||Topic explanation||Related sustainable development goals||Topic boundary|
|Financial performance||Maintaining strong financial performance over the long term through delivering on strategy||8. Decent work and economic growth||Dexus portfolio owned and managed by DXS security holders|
|Transparency||Promoting open communication with investors, supporting Dexus's strong governance principles||16. Peace, justice and strong institutions||Dexus platform|
|Market volatility||Adopting active leasing and asset management strategies to proactively address variable market conditions||11. Sustainable cities and communities||All properties within the Dexus group portfolio|
|Tenant attraction and retention||Enhancing tenant engagement and satisfaction and utilising leasing capabilities to attract and retain tenants to improve portfolio occupancy||Tenants occupying properties within the Dexus group portfolio|
|Talent attraction and retention||Attracting, retaining and developing employees to deliver high performance in a diverse and inclusive workplace||All Dexus employees|
|Workplace health and safety||Ensuring the safety of employees, tenants and suppliers at Dexus properties||All persons occupying or visiting a Dexus managed property|
|Community contribution||Engaging with the community through corporate social responsibility programs and providing spaces servicing the wider community||All properties within the Dexus group portfolio|
|Sustainable procurement||Effectively managing supply chain risks in relation to environmental, social and governance issues and identifying opportunities to create value in partnership with suppliers||Suppliers to Dexus across all properties within the Dexus group portfolio|
|Climate change impacts||Assessing the impact and adopting measures to address the effect of climate change on the property portfolio||13. Climate action||All properties within the Dexus group portfolio|
|Resource efficiency and waste||Improving energy and water efficiency and waste management to enhance environmental outcomes, demonstrated through sustainability ratings||All properties within the Dexus group portfolio|
A prudent and robust approach to risk management is an essential part of Dexus's ongoing success. There are various risks that could impact the execution of Dexus's strategy and outlook, and the nature and potential impact of these risks can change over time.
Dexus actively reviews and manages risks faced by the group over the short, medium and long term, overseen by the Board Risk Committee.
Setting business targets and commitments
Corporate responsibility and sustainability are an integral part of our daily business operations. Dexus delivers these responsibilities through measurable actions and within Board and Corporate policies.
Dexus sets measurable performance commitments and targets for each objective within our Sustainability Approach based on these material issues.
Dexus reports progress and results relating to each stakeholder group within the 2017 Annual Report supported by non-financial and operational data supplied in this 2017 Performance Pack.
In this 2017 Performance Pack:
- ‘Dexus’, ‘the group’, ‘Dexus group portfolio’, ‘we’, ‘us’ and ‘our’ refer to Dexus comprising the ASX listed entity (DXS) and the Third Party Funds Management business, unless otherwise stated.
- ‘Dexus portfolio’ relate specifically to the portfolio of properties in the ASX listed entity
- ‘Funds management portfolio’ relate to properties managed by Dexus on behalf of third party clients
Any reference in this report to a ‘year’ relates to the financial year ended 30 June 2017. All dollar figures are expressed in Australian dollars unless otherwise stated.
In addition to auditing the Financial Statements, PricewaterhouseCoopers (PwC) provides limited assurance over select environmental and social data metrics within the 2017 Dexus Online Annual Reporting Suite.
Limited assurance has been obtained for the 12 months to 30 June 2017. The Assurance Statement, and associated reporting criteria documents are available within Dexus’s online CR&S library.
Dexus's materiality assessment
Dexus continuously seeks to improve the information we report on, including reviewing material issues to ensure relevance. Every few years we formally re-assess our material issues through an extensive process, facilitated by an independent specialist. In the intervening years including 2017, we conduct an annual management review of our materiality matrix in line with reporting disclosure.
Dexus’s materiality assessment encompasses an assessment or management review using a four-stage process:
|Review type||1. Identify & align||2. Engage||3. Prioritise||4. Disclose|
(every 3 to 5 years)
Dexus researched existing and emerging material issues relevant to our business, as identified by:
|Engage with key stakeholders to identify issues that they considered important to the group. These includes prioritising issues relating to GRI Standards topics as well as other issues identified by stakeholders||Engaging topic experts across Dexus to assign an appropriate level of insight on priority on the relative materiality of the issues, prioritising them based on their significance and likely impact to Dexus and our stakeholders||Dexus has aligned with the GRI Standards to ensure the structure and content of annual results reporting adequately disclosed materiality issues and performance|
|Annual Management Review
|Align material issues with Dexus strategic risks and risk management activities, operations, and project initiatives||
Review issues arising from engagement (meetings, surveys with customers, investors, and employees).
Review issues arising from industry collaboration and sustainability surveys and benchmarks such as CDP, GRESB, and RobecoSAM
|Review and update the priority rating Dexus has assigned to issues and the updated matrix forms the basis of Dexus’s material issues||Dexus has aligned with GRI Standards to ensure the structure and content of annual results reporting adequately disclosed materiality issues and performance|