Oversight for the Operational Framework is under the board-level Placemaking and Sustainability Committee, which receives recommendations and updates from the three executive board pillar owners. The pillar owners meet annually to approve any revisions to the framework in consultation with the executive board, while working closely with programme owners through a series of focused working groups.
A detailed materiality assessment to understand stakeholder expectations and concerns informs our Operational Framework.
Informing our operational framework update was a detailed materiality assessment to understand stakeholder expectations and concerns. The matrix details the most material issues to our business and our stakeholders.
The best practice double materiality process assessed both financial materiality (the potential impact of sustainability issues on our financial value) and impact materiality (how our activities affect the environment, people and society). This was based on in-depth qualitative interviews and online surveys with a diverse and fair representation of ten stakeholder groups across the areas we operate in.
Overall, feedback showed that our strategy was robust and relevant but that the framework needed to respond more to the shifting challenges of certain risks and opportunities.
