Materiality Assessment
Materiality Assessment
The sensitivity of an issue to Ingenia and to its stakeholders, in terms of importance, forms the basis of materiality analysis, which in turn guides the processes for identifying, managing and devising specific action plans for addressing our material issues.
Material issues are defined as those that are important to our stakeholders and have the greatest impact on Ingenia’s business and our ability to create value. Ingenia acknowledges that materiality is specific to every individual company and several discovery phases were undertaken to develop an understanding of what material issues would apply to Ingenia’s business portfolio.
We analysed insights and feedback from a range of internal/ external sources and stakeholders, including:
- Investor feedback
- Resident satisfaction surveys and feedback from our guests
- Employee engagement
- Leading frameworks such as the Global Reporting Initiative (GRI), global sustainability outlook and industry-specific trends
- Industry partnership and collaboration
- Community engagement.
Ingenia’s Group Executive and internal Sustainability Working Group, which includes relevant executives and members of their senior leadership teams, played a key role in the identification of material issues, which were then reviewed (including analysis of whether the issues present risks/opportunities over the short term or longer-term) and prioritised by the Group Executive before being presented to the Audit & Risk Committee and recommended to the Board. An annual review of the Group’s material issues is undertaken to ensure that emerging issues and stakeholder objectives and concerns are regularly assessed and inform our reporting. Topics emerging outside of the formal annual review are also assessed for materiality and considered in our sustainability strategy.
Ingenia identified the following material issues across the business and a consolidated outcome of the stakeholder engagement process has helped us streamline our focus areas in line with these material issues, as shown in the table below.
Governance
Material Issue
Creating long term value through delivering economic performance, managing risk, maintaining a high level of governance and transparency and collaborating with industry in sustainable solutions.
Focus Area
- Ensuring the Group has appropriate risk management, and a high standard of governance and transparency is key to market confidence and the delivery of sustained financial performance.
- Engaging to influence and support positive industry change through effective partnerships and contribution to industry bodies.
Relevant sections in the Sustainability Report
- Corporate Governance Framework
- Climate-Related Resilience and Risk
- Code of Conduct
- Ethics and Integrity
- Anti-bribery and Corruption Policy
- Whistle-blower Policy
- Memberships and associations
- Cyber Security.
Environment
Material Issue
Creating and operating high quality portfolios that minimise our impact on the environment and meet future needs.
Focus Area
- Implementing and adopting sustainable practices and technologies in our operations and development activities to deliver high-quality portfolios in the long-term for our customers, our security holders and our local communities.
Relevant sections in the Sustainability Report
Social
Material Issue #1
Supporting the health, safety and wellbeing of our employees, residents, guests and contractors.
Focus Area
- Creating communities that support the health, safety and well-being of our residents, guests and employees through fit-for-purpose facilities, activities and services and constant communication and engagement.
- Strong health and safety systems in place to effectively manage health and safety risks of our employees and contractors operations.
Relevant sections in the Sustainability Report
Material Issue #2
Retaining, attracting and motivating a purpose-led, high performing team with a strong focus on diversity, engagement, training and recognition.
Focus Area
- The ongoing growth and success of the Group is supported by the ability to build on proprietary knowledge and to attract, retain and motivate a performance oriented team who embrace the Group’s values.
- Fostering a diverse and inclusive culture, developing our people capability and recognising their efforts and achievements.
Relevant sections in the Sustainability Report
Material Issue #3
Supporting our local communities through engaging and purposeful contributions from our employees and residents.
Focus Area
- Ongoing support to our local communities with engaging, meaningful and impactful contributions from our employees and residents through volunteering, fundraising, sponsorship, charity and space provision.
- Promoting local goods, services and suppliers to provide economic support to our local communities.
Relevant sections in the Sustainability Report
Material Issue #4
Preventing the risks to human rights in our operations and supply chain.
Focus Area
- Developing and implementing processes and systems that prevent modern slavery and other human rights risks in our operations and supply chain.
Relevant sections in the Sustainability Report