ESG STRATEGY
ENVIRONMENTAL
SOCIAL
GOVERNANCE
APPENDICES
INTRODUCTION
Materiality and Stakeholder Engagement
In 2021 we conducted a Materiality Assessment in alignment with TCFD and SASB standards to highlight the ESG issues most impactful to our business and stakeholders, based on their responses. The Materiality Assessment measured ESG topics based on each stakeholder’s impression of the topic’s impact and importance on the organization. Stakeholders included employees, peers, investors, service providers, government and community members. Impact refers to the effect an organization has on the economy, the environment and/or society, which can indicate its contribution (positive or negative) to sustainable development. Sustainable development meets the needs in the present without compromising the ability of future generations to meet their needs. A high impact implies that an organization’s contribution (positive or negative) could or will be large. Importance refers to the degree to which a specific metric/issue is aligned with the organization’s vision and purpose, and/or the extent to which stakeholders express concern for this metric/issue. A high importance implies that a topic is integral to the organization’s overall mission and operations.
SASB Standards focus on ESG issues expected to have a financially material impact on the company, aimed at serving the needs of most investors. TCFD provides a framework for climate- related disclosures to enable stakeholders to understand better the concentrations of carbon- related assets. ESRT aligned its materiality assessment with TCFD and SASB disclosure topics to ensure stakeholder expectations are addressed.
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