Abbreviations

AR - 2017 Dexus Annual Report

FR - 2017 Dexus Combined Financial Report

PP - 2017 Dexus Performance Pack

CGS - 2017 Corporate Governance Statement

DMA - 2017 Disclosures on Management Approach

GRI 102: General disclosures

Disclosure Number Disclosure Reference Remarks/Omissions
102-1 Name of Organisation

Our business 

102-2 Activities, brands, products and services

Our business

Property portfolio

Third Party Funds Management

Workspace Dexus

Dexus does not produce or sell any products that are banned in certain markets.
102-3 Location of headquarters Contact us Level 25, Australia Square, 264 George Street Sydney NSW 2000
102-4  Location of operations  About Dexus - AR pg 2 Dexus operates in Australia
102-5 Ownership and legal form Corporate Governance Dexus (DXS) is a publicly traded real estate investment trust listed on the Australian Securities Exchange 
102-6 Markets served

Who we are

Our business

 
102-7 Scale of organisation

About Dexus - AR pg 2

Creating value - AR pg 8

Operating and Financial Review - Risks

Consolidated Statement of Comprehensive Income - AR pg 53

Consolidated Statement of Financial Position - AR pg 54

Investor Information - AR pg 103

Strong communities - PP pg 19

Thriving people - PP pg 25

Properties

 
102-8 Information on employees and other workers Thriving people - PP pg 25   
102-9 Supply chain

Supply chain DMA

Strong communities - PP pg 19

 
102-10 Significant changes to the organisation and its supply chain

Active Governance Statement - AR pg 17

Operating and Financial Review - AR pg 22

Strong communities - PP pg 19

 
102-11 Precautionary principle or approach

Principle 7- Recognise and manage risks - CGS pg15

Corporate policies

The Risk & Compliance team oversees Dexus's risk, compliance and corporate governance programs. These programs support the development and implementation of compliance, risk management and corporate governance procedures across the business to minimise risk.

In line with the precautionary approach, activities that could potentially cause harm to the public or the environment receive heightened focus. Where the risk of human or environmental harm is high, the activity is not undertaken.

Dexus has developed both a Compliance Management Framework and Risk Management Framework outlining how compliance and risk is addressed and managed at Dexus.

102-12 External initiatives

Memberships and affiliations

2017 UNPRI Transparency Report

Dexus's corporate voluntary commitments include: United Nations Principles for Responsible Investment (UNPRI), Carbon Disclosure Project (CDP), National Carbon Offset Standard (NCOS), FTSE4Good, CitySwitch, Better Buildings Partnership, Dow Jones Sustainability Indexes (DJSI) and Global Real Estate Sustainability Benchmark (GRESB).
102-13 Memberships of associations

Memberships and affiliations

Leading cities - PP pg 11

 
102-14 Statement from senior decision-maker Chair and CEO Review - AR pg 3  
102-15 Key impacts, risks and opportunities

Chair and CEO Review - AR pg 3

Strategy - AR pg 6

Operating and Financial Review - AR pg 28

Delivering FY17 Commitments - AR online

2017 CDP Report - Questions 2.1(a)(b), 5 and 6, pages 5, 20, 26

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

 
102-16 Values, principles, standards and norms of behaviour

Dexus experience

Wellbeing

People and Culture DMA

Principle 3 - Act Ethically and Responsibly - CGS pg 11

 
102-17 Mechanisms for advise and concerns about ethics

Principle 3 - Act Ethically and Responsibly - CGS pg 11

Principle 4 - Safeguard Integrity in Corporate Reporting - CGS pg 12

Principle 7 - Recognise and Manage Risk - CGS pg 15

Governance DMA

 
102-18 Governance structure

Principle 2 - Structure the Board to Add Value - CGS - pgs 5-6

Governance DMA

 
102-19 Delegating authority

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

 
102-20 Executive level responsibility for economic, environmental and social topics    The Executive General Manager, Customer and Marketing is a member of the Dexus's Executive Key Management Personnel and a member of the Group Management Committee, and has overall operational responsibility for economic, environmental and social topics. The Group Management Committee reports directly to the Dexus Board.
102-21 Consulting stakeholders on economic, environmental and social topics

Contact us

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

Dexus has four Board Committees to assist in fulfilment of its responsibilities. There are seven committees advising the Group Management Committee (the senior executives of the organisation). Employees are able to make recommendations through these forums as well as directly to senior management.

Security holders may attend the Annual General Meeting (AGM) in person to meet the Board of Directors and Executive team. The Investor Relations team facilitate engagement with investors including regular meetings with investors. A feedback mechanism and enquiry facility is available on the Dexus website to facilitate investor and stakeholder feedback. Additionally, investors can make enquiries through the Registry info line.

Investor enquiries were materially related to their investment i.e. distributions, tax statements and performance and limited enquiries on CR&S topics.

102-22 Cmposition of the highest governance body and its committees

Board of Directors - AR pg 16

Active Governance Statement - AR pg 17

Directors' Report - AR pgs 30-31

Directors' directorships in other listed entities - AR pg 50

 

 
102-23  Chair of the highest governance body

Board of Directors - AR pg 16

Principle 2 - Structure the Board to Add Value - CGS pg 5

 
102-24 Nominating and selecting the highest governance body

Principle 2 - Structure the Board to Add Value - CGS pg 5

Selection and Appointment of Non-Executive Directors - Board policy

The Board Nomination, Remuneration & Governance Committee advises the Board in fulfilling its responsibilities by overseeing all aspects of Director, Group Management Committee and Key Management Personnel remuneration, and Board nomination and performance evaluation. The Committee also oversees aspects of Human Resources management.
102-25  Conflicts of interest

Board policies

Corporate polices

Directors' directorships in other listed entities - AR pg 50

Principle 3 - Act Ethically and Responsibly - CGS pg 11

 

Dexus has strict policies which address conflicts of interest including: Director Code of Conduct; Employee Code of Conduct; Conflicts of Interest Policy; Securities Trading Policy (including Inside Information); and Gifts and Entertainment. Potential conflicts and related party transactions are overseen by the Compliance Manager and are reported on a regular basis to the Board.
102-26 Role of highest governance body in setting purpose, values and strategy

Principle 1 - Lay solid foundations for management oversight - CGS pg 3

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

 
102-27 Collective knowledge of highest governance body

Principle 2 - Structure the Board to Add Value - CGS pg 5

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

 
102-28 Evaluating the highest governance body's performance

Principle 1 - Lay solid foundations for management oversight - CGS pg 3 

Board performance evaluation policy

Governance activities across the year - AR pgs 18-19

 
102-29 Identifying and managing economic, environmental and social impacts

Principle 7 - Recognise and Manage Risk - CGS pg 15

Material issues - PP pg 2

 
102-30 Effectiveness of risk management processes

Principle 7 - Recognise and Manage Risk - CGS pg 15

Operating and Financial Review - Risks - AR pg 28

Governance DMA

 
102-31 Review of economic, environmental and social topics

Directors Report - Attendance of Directors at Board meetings and Board committee meetings - AR pg 31

Operating and Financial Review - Risks - AR pg 28

Principle 7 - Recognise and Manage Risk - CGS pg 15

Governance DMA

 
102-32 Highest governance body's role in sustainability reporting   The 2017 Dexus Annual Reporting Suite has been reviewed and approved by senior executives and managers across all business units with final approval provided by the Chief Executive Officer in accordance with Dexus’s Marketing and Communications Materials approvals policy.
102-33 Communicating critical concerns

Principle 7 - Recognise and Manage Risk - CGS pg 15

Governance DMA

 
102-34 Nature and total number of critical concerns

Governance activities across the year - AR pgs 18-19

Operating and Financial Review - Risks - AR pg 28

 
102-35 Remuneration policies

Principle 8 - Remunerate fairly and responsibly - CGS pg 16

Remuneration Report - AR pgs 32-49 

 
102-36 Process for determining remuneration

Remuneration Report - AR pgs 32-49 

 
102-37 Stakeholders' involvement in remuneration

Chair and CEO Review - AR pg 3

Principle 6 - Respect the Rights to Security Holders - CGS pg 14

Remuneration Report - AR pgs 32-49

2016 Annual General Meeting

2016 Annual General Meeting results

 
102-38 Annual total compensation ratio Thriving People - PP pg 25
102-39 Percentage increase in annual total compensation ratio   In FY17 the ratio of percentage increase in annual total compensation for Dexus's Chief Executive Officer to the median percentage increase in annual total compensation for all employees (excluding the CEO) was 9.3:1
102-40 List of stakeholder groups

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

During the year Dexus engaged at an organisational level with key stakeholder groups including debt and equity investors, third party investors, suppliers, customers, employees, senior management, industry representatives, investor representatives, and government. Dexus also engaged in asset-level engagement with our key stakeholders including customers, suppliers, local community and local government.
102-41 Collective bargaining agreements   Zero. Dexus does not have any collective agreements as all employees are employed under individual contracts which comply with the National Employment Standards.
102-42 Identifying and selecting stakeholders

Material issues - PP pg 2

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

Dexus referred to the GRI Standards (2016) to set the report’s boundaries in relation to material issues and key performance indicators. As part of its process to review material issues Dexus reviewed internal and external materials and consulted with internal stakeholders to identify stakeholders with whom to engage. Stakeholder groups were prioritised based on their relevance to Dexus business or the property sector.

Through this process Dexus identified its key stakeholders as comprising current and prospective investors, employees, customers, suppliers and the community. Dexus's Sustainability Approach and engagement strategy has been developed to effectively engage with these key stakeholders to understand and respond to their needs, as well as focusing on environmental performance and relevant issues

102-43 Approach to stakeholder engagement

Sustainability approach

Material issues - PP pg 2

Governance DMA

People and Culture DMA

Supply Chain DMA

Customers and Community DMA

Environment DMA

Dexus's stakeholder engagement framework seeks to tailor its relationships with each individual stakeholder group.

Dexus regularly surveys its major stakeholder groups including semi-annual investor survey (DXS and DWPF investors), annual tenant surveys (across office and industrial) and the bi-annual employee engagement survey.

In preparing the 2017 Annual Report, Dexus engaged with employees across the business for their input regarding performance information and commentary, as well as details of their engagement with external stakeholders, including survey results. Dexus also engaged directly with investor representatives via one-on-one sessions to gather their input. From their feedback Dexus enhanced the structure and content within the 2017 Annual Report.

Dexus also engages regularly in a variety of ways, including: committees and working groups; one-on-one meetings; monthly distribution of information; partnerships; memberships; and online and postal feedback mechanisms.

Dexus also presents its half year and annual results together with quarterly operational performance. These presentations are webcast through the Dexus website and allow for investor Q&A from investors present at the meeting as well as via phone. Investors are also able to engage with the Board at the AGM, which is also webcast. Dexus has an Investor Relations Application available on smart phones.

102-44 Key topics and concerns raised

Sustained value - PP pg 5

Leading cities - PP pg 11

Future enabled customers  - PP pg 15

Strong communities - PP pg 19

Thriving people - PP pg 25

Enriched environment - PP pg 34

 
102-45 Entities included in the consolidated financial statements Directors' Report - AR pg 30  
102-46 Defining report content and topic boundaries

Material issues - PP pg 2

 
102-47 List of material topics

Material issues - PP pg 2

 
102-48 Restatements of information

Other disclosures - Note 26 - AR pg 95

Enriched environment - Resource consumption methodology - PP pg 39

2017 Combined Financial report

Dexus Industrial Trust pg 30 - Note 15 (PDF pg 32)

Dexus Office Trust pg 35 - Note 18 (PDF pg 74)

Dexus Operations Trust pg 39 - Note 25 (PDF pg 121)

 
102-49 Changes in reporting   There have been no significant changes from previous reporting periods in the boundary, or measurement methods applied in the report.
102-50 Reporting period   Fiscal year 2017 (1 July 2016 - 30 June 2017). 
102-51 Date of most recent report   Fiscal year 2016 (1 July 2015 - 30 June 2016).
102-52 Reporting cycle    Reporting cycle is annual, period ending 30 June 2017.
102-53 Contact point for questions regarding the report Directory - AR pg 108
102-54 Claims of reporting in accordance with the GRI standards

About this report - AR pg 109

GRI content index

 
102-55 GRI content index GRI content index This index.
102-56 External assurance

Principle 4 - Safeguard Integrity in Corporate Reporting - CGS pg 12

Directors' Report, Audit - AR pg 51

Independent Auditor's Report - AP pg 97

Introduction - PP pg 2

2017 Assurance Report

PricewaterhouseCoopers (PwC) is an independent auditor engaged by Dexus to audit Dexus's financial reports and provide a Limited Assurance opinion over key aspects of Dexus's sustainability performance as reported in the 2017 Annual Report and within the online reporting suite on the Dexus website.