stakeholders and materiality materiality matters the materiality matrix below. periodically, we...
Post on 15-Mar-2020
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Materiality refers to how we determine the relevance of sustainability issues and their importance to both the business and stakeholders. Understanding and prioritising these salient issues help us address and report the most important aspects. This process supports our strategy and allows us to align our sustainability reporting with the expectations of our stakeholders.
MRCB’s Stakeholder Engagement Framework forms the basis for consulting with internal and external stakeholders in the most extensive materiality assessment performed to date.
Components of the Materiality Assessment
Determining Material Topics for MRCB
MRCB’s current understanding of the relevant topics and the level of interest of its stakeholders are depicted in the following chart. Understanding the relevance of specific sustainability topics for stakeholders is of mutual interest and can support MRCB’s sustainability strategy.
STAKEHOLDERS AND MATERIALITY
Effective stakeholder engagement is core to business success and part of our everyday operations. We consider stakeholders to be anyone with an interest in our activities, whether they are an individual or a representative of a group or organisation. Stakeholders include people who are affected by our operations as well as those who influence our decisions.
We engage with our stakeholders throughout the project planning, development, construction and operation stages. We provide information on our activities and take time understanding their concerns and interests. All these actions are invaluable for improving our decision-making processes.
We are involved in a wide range of engagement activities. By listening to and working with others, we explore how we might solve some of the challenges we face. We deal with all stakeholders ethically, honestly and constructively. We seek their opinions so that we can adapt to changing expectations and generate long-term value for our shareholders.
MRCB’s Stakeholder Engagement Framework
Comprehensive review of sustainability topics identified in the business sector and reported in the media
Interviews with internal and external sustainability experts
Employee survey across MRCB operations
A review of consumer survey results
Workshops and consultation sessions with the management team
The alignment of the topic with our vision, mission and brand portfolio
The potential impact on our operations, sourcing and consumers
Our level of influence on the topic
The importance of a topic/interest to our key stakeholders
During our materiality study, stakeholder representatives were asked to rate the importance they placed on particular areas of sustainability. Their comments were gathered systematically and are incorporated in the materiality matrix below.
Periodically, we review our material issues against the changing context of the business, stakeholder feedback and emerging trends. We also ensure that our reporting continues to include the critical issues for stakeholders as they arise.
This reporting focuses on areas that matter most to our stakeholders. Moving forward, we hope to set targets or KPIs for each material issue.
At MRCB, we are mindful of our impact on the economies of our stakeholders and our operations directly develop the infrastructure in our local communities. We actively develop public transportation, sports, human capital, welfare facilities and medical facilities in Malaysia.
MRCB Empowers the Bumiputera Economy We effectively implement the nation’s Bumiputera socio-economic development agenda by increasing Bumiputera ownership of corporate equity and assets. This approach is in line with the Government’s Bumiputera Economic Council (MEB) objectives.
The Government expects all government-linked companies (GLCs) to set targets and include them in their corporate key performance indicators. At MRCB, we have developed a scorecard that outlines our achievements over the last financial year and this has become the basis for setting our future targets. We set targets for the number of projects awarded to local vendors and spent RM62 million on collaborative programmes with other Bumiputera agencies. Our Trading Arm spent RM82.81 million on purchasing materials from Bumiputera vendors, which exceeded our initial target of RM52 million.
Growing the Economy through Rapid Development of Kuala Lumpur Sentral Central Business District (CBD) Our iconic development project, Kuala Lumpur Sentral CBD, is an exclusive urban centre built around Malaysia’s largest transportation hub. It offers global connectivity, excellent investment opportunities, business convenience and an international lifestyle.
Kuala Lumpur Sentral CBD is intrinsically critical infrastructure in Malaysia’s capital city. This transport hub has connected commuters, business and casual travellers and tourists for the past 15 years. It provides the capital city with an unrivalled connectivity to the world via this well-known Transit Oriented Development (TOD).
We have completed 85% of Kuala Lumpur Sentral CBD and are nearing its delivery of approximately RM15 billion total Gross Development Value (GDV). It has become a vibrant and self-contained city-within-a-city development that comprises premium corporate office towers, business suites, luxury condominiums, serviced apartments and the NU Sentral retail mall. It houses the highest number of Green buildings in one location in the country. These ‘live, work and play’ components make Kuala Lumpur Sentral a vision of the next-generation CBD.
A fully fibre data network provides ample bandwidth for businesses’ growing requirements, especially multinational corporations. More data is being stored, sent and accessed by businesses within the CBD. These corporations use applications that demand international quality infrastructure that is maintained by skilled IT professionals, who are part of the CBD’s resident population. This CBD provides a good level of security and safety for the well-being of its global community.
Transforming Malaysia, One City at a Time MRCB has learned from the experiences and success of its first Transit Oriented Development (TOD) project – The Kuala Lumpur Sentral CBD and aims to include this concept as part of its sustainability strategy. These mixed-use residential and commercial areas are designed to maximise access to public transport and often incorporate features to encourage transit ridership. We have made significant progress in incorporating business and environmental sustainability in the execution of our projects.
MRCB has embarked on four TODs in PJ Sentral Garden City and Penang Sentral, Kwasa Sentral and Cyberjaya City Centre in Cyberjaya.
Highlights of Upcoming Transit Oriented Developments (TODs)
PJ Sentral Garden City
– Integrated with the LRT station – The overall development will adopt the
LEED Neighbourhood Gold rating
Penang Sentral – Construction work for this transport hub commenced in early 2015 and is scheduled for completion by 2017
– Integrated commercial and residential development, built around a Transport Terminal hub
– Integration of ferry, bus, taxi and train services
Kwasa Sentral – Two MRT rail stations will be integrated with the TOD that will form a CBD for Kwasa Damansara township
– The entire project may take between 12 and 15 years to complete
– It is tailored as a liveable commercial development similar to Kuala Lumpur Sentral CBD
Cyberjaya City Centre (CCC)
– CCC will be integrated with MRT line 2 – Phase 1, CCC will propel Cyberjaya into
becoming a global technology hub, a smart city, eco-friendly development, connectivity, innovation and urban lifestyle for the community
– The development will comprise of three zones namely Vibrant, Tech & Enterprise and Gateway
Sports and Nation Building In October 2015, the Federal Government appointed MRCB’s subsidiary, Rukun Juang Sdn Bhd (RJSB), to regenerate Bukit Jalil National Sports Complex into the iconic Kuala Lumpur Sports City (KL Sports City).
KL Sports City will be a vibrant sports hub that will be used by athletes, the local community, recreational users and the general public. The first phase, Project 1, will prepare the Bukit Jalil National Stadium for hosting the 2017 Southeast Asia (SEA) Games. During Project 1, RJSB will also carry out targeted works on Putra Stadium, the National Aquatic Centre and the National Hockey Stadium. Integration with existing public transportation links will be improved and pedestrian access to the site increased.
In early 2018, RJSB is scheduled to begin the second phase of work. Project 2 will create KL Sports City, a fully-integrated sports hub. KL Sports City will contain world-class infrastructure including high- performance sports training facilities. Within the city, there will be a sports rehabilitation science centre, a youth park, public sports facilities, a sports museum, youth hostel, convention centre and sports-focused retail mall.
The new KL Sports City will be a catalyst that inspires Malaysia to become a sporting nation. The project propels MRCB into sports and recreational infrastructure. It allows us to build on our core strengths of delivering multi-use developments that regenerate areas of national importance. Through this private-public partnership, we can align