Stakeholders’ interest is central to the determination of our sustainability agenda. Our dynamic, year-round stakeholder engagement activities allow us to gather diverse views, opinions and expectations from our key stakeholders, which are material to our business, on a continuous basis.
Engage different stakeholders via diversified channels and approaches
Analyse and evaluate feedback collected
Devise action plan for further improvement
Our internal and external stakeholders are grouped into nine categories and engaged through various regular communication channels. These help us enhance our communication transparency, anticipate our stakeholders’ needs, and identify possible emerging risks and opportunities to our business operations.
Each year, we also design a thorough stakeholder engagement process to identify key sustainability topics, assess topic materiality, and gain valuable feedback on our strategy, performance and initiatives.
Customers and Tenants
Government and Industry Associations
Academia
NGOs
Media
Employees
Suppliers and Contractors
Local Communities
Investors and Shareholders
Stakeholder
Groups
As stakeholders’ concerns and expectations may change over time, we have gone through a rigorous materiality assessment process annually to prioritise topics that are important to stakeholders and our business, keeping abreast of the sustainability trends that shape our industry and business.
Identifying Relevant Topics
Identifying Relevant Topics
With the inclusion of 5 new issues, a total of 28 sustainability issues were identified for material assessment.
Collecting Stakeholder Feedback
Collecting Stakeholder Feedback
Feedback from material internal and external stakeholders was collected through a series of engagement activities, including surveys, interviews and focus groups.
Prioritsing Material Topics
Prioritsing Material Topics
Followed by the engagement activities, the level of the materiality of each sustainability topic was assessed based on:
- Survey scoring on its importance to stakeholders and importance to the business of KPL
- Feedback collected in interviews and focus groups
- Peer benchmarking results
The assessment result was plotted in the materiality matrix, where sustainability topics were categorised into three tiers – most material, moderate material, and less material for further validation.
Validation
Validation
The list of material topics and materiality assessment result was presented to the Sustainability Steering Committee for review.
The materiality matrix maps 21 sustainability topics, with their level of importance to stakeholders (y-axis) and their level of importance to our business (x-axis). Overall materiality combines both internal and external factors, including the Group’s overall strategy, mission, resources, industry trends and stakeholders’ concerns.
Tier 1: Material Topics
Tier 2: Moderate Topics
Tier 3: Monitored Topics
Material Issues by Topics
Energy Efficiency and Greenhouse Gas ("GHG") Emissions
Climate Change and Resilience
Green Building Certification
Waste Management
Water Consumption and Conservation
Biodiversity
Sustainable Finance
Occupational Health and Safety
Labour Practices and Human Rights
Diversity, Equity, Inclusion
Human Capital Management and Development
Community Engagement, Development and Investment
Responsible Supply Chain Management
Information Privacy
Innovation
Stakeholder Well-being
Customer Engagement and Collaboration
Service and Product Quality
Business Ethics and Integrity
Risk and Crisis Management
Economic Performance
We are committed to identifying and addressing the material issues that are most relevant to our business. In this regard, we have identified the key potential risks/opportunities associated with our top four material issues:
-
Energy Efficiency and Greenhouse Gas Emissions:
Adopting energy efficiency and transition measures reduce our greenhouse gas emissions throughout value chain, supporting our alignment with Paris Agreement and reducing climate-related impact to the society and environment. Investment in energy transition will reduce excessive emissions and minimise our external impact that could otherwise adversely impact the our tenants, the surrounding communities and the environment (e.g., casualties and incidents under more frequent extreme weather events).
-
Green Building Certification:
Implementing sustainable practices across the entire lifecycle of our buildings, from construction to management, helps lower environmental impact throughout our value chain while promoting the wellbeing of individuals and communities. By investing in green building methods, we can reduce exposure to sustainability-related risks that might otherwise negatively affect our tenants, local communities, and the environment.
-
Responsible Supply Chain Management:
Failure to adopt supply chain management measures can result in the Group‘s reputational damage and public scrutiny. By close monitoring, auditing, and collaboration with suppliers, we can mitigate supply chain risk.
-
Climate Change and Resilience:
As climate change imposes direct impacts on our business operations, it is one of our material ESG risks. Climate risks and opportunities include increased severity of extreme weather, rising mean temperature and heatwave, tightened building energy codes and guidelines, increased market demand for climate-resilient properties.