Growthpoint has developed a sustainability program which encompasses environmental, social and governance (ESG) reporting.
Sustainability initiatives focused on Securityholders, tenants and other stakeholders as well as the broader community, have been established to help ensure Growthpoint remains a sustainable business.
The Sustainability Report includes:
- Growthpoint’s approach to sustainability including an overview of its program and matters considered material.
- An overview of specific environmental, social and governance objectives and performance.
- Environmental sustainability including:
- NABERs ratings;
- Green Star ratings; and
- greenhouse gas emissions data.
- Social sustainability including:
- health and safety;
- community contributions; and
- employee well-being, diversity and training.
- Governance including:
- overview of governance;
- due diligence processes;
- approach to risk;
- a "SWOT" analysis on Growthpoint;
- approach to challenges and uncertainties;
- biographies of directors and executive management;
- reporting and management structure;
- outsourcing overview; and
- Corporate Governance Statement.
- Global Reporting Initiative (GRI) Index.
Appointment of Sustainability Manager
Growthpoint’s project manager, Steve Lee, has had his role expanded to include sustainability management. As a large part of Growthpoint’s sustainability program involves environmental monitoring and improving performance, Steve’s significant experience in these matters will be increasingly important for Growthpoint.
Global sustainability benchmarking
In FY16, Growthpoint participated in the following for the first time.
Carbon Disclosure Project (CDP)
CDP is a global initiative to “transform the way the world does business to prevent dangerous climate change and protect our natural resources”35. CDP collects data, primarily in relation to carbon emissions, from a range of primarily listed entities to help reveal risk for investors. Most of the S&P/ASX 200 constituents contribute to the annual survey and Growthpoint received an invitation to participate for the first time in 2016 following its inclusion in the S&P/ASX 200 index in 2015. Results are expected to be released in November 2016. Further details are available at www.cdp.net
Global Real Estate Benchmarking (GRESB)
“GRESB is an industry-driven organization committed to assessing the ESG performance of real assets globally, including real estate portfolios and infrastructure assets. More than 200 members, of which about 60 are pension funds and their fiduciaries, use the GRESB data in their investment management and engagement process, with a clear goal to optimize the risk/return profile of their investments.”36 Growthpoint participated in the annual GRESB survey for the first time in 2016 with the results due in September 2016. Further details available at www.gresb.com
Global Reporting Initiative (GRI)
“GRI is an international independent organization that helps businesses, governments and other organizations understand and communicate the impact of business on critical sustainability issues such as climate change, human rights, corruption and many others.”37 GRI aims to ensure consistency of ESG reporting across different countries, entities and industries. Growthpoint’s FY16 reporting suite has been prepared in accordance with GRI G4 guidelines. Interested readers should refer to the GRI index at page 44 of the Sustainability Report. Further details are available at www.globalreporting.org
Among other considerations, Growthpoint has decided to participate in the above benchmarking to:
- Provide investors with requested information.
- Promote itself to current and potential investors.
- Benchmark itself against its peers.
- Use the questions and results as prompts for the development of Growthpoint’s business.
- Better understand risk.
- Help meet stakeholder and community expectations.
Growthpoint SA has an extensive sustainability program which has been developed over many years. Further details are available at growthpoint.co.za/Pages/CorporateSocialInvestment.aspx
Growthpoint has attempted to replicate Growthpoint SA’s model to the extent relevant for Growthpoint’s business having regard to its much smaller size and the different expectations of investors, employees and other stakeholders in Australia compared to South Africa.