We regularly review which issues are most important for the long-term sustainable development of Swiss Prime Site. This materiality analysis is carried out by the management and the Board of Directors based on core elements of the corporate strategy. It also takes into account the findings of a comprehensive stakeholder survey.
We conduct the materiality analysis in line with the principle of double materiality. On the one hand, there is an assessment of the importance of the particular issue in terms of impact on the sustainable development of the Company. On the other hand, management and stakeholders have assessed the relevance of an issue for Swiss Prime Site’s long-term value creation. The material issues were identified in 2021 as part of a comprehensive survey of around 130 investors, analysts, tenants, members of the Board of Directors, members of the Executive Board and the senior management team of group companies as well as other members of management.
As a company, it is our duty to generate sustainable value in the six key areas of action – finance, ecology, infrastructure, employees, stakeholders and innovation. Within these areas of action, value creation is monitored for the associated material issues using defined metrics. A material issue can contribute to several areas of action. This perspective allows us to identify which issues to prioritise in the development of financial and non-financial aspects.
Given its core business, Swiss Prime Site deems it appropriate to look to SDG 11 – Sustainable Cities and Communities – for the principles that guide its business activities. SDG 11 is reflected in the real estate company’s corporate vision of creating sustainable living spaces and in the affirmation of its responsibilities regarding the social, ecological and economic framework surrounding its properties. Swiss Prime Site views real estate (projects) not just as individual projects, but as part of the Smart City, contributing to urban living space in the context of urban development and regeneration. A number of trends with a significant impact on Swiss Prime Site’s core business also align with SDG 11. These include urbanisation, neo-ecology and connectivity.
The real estate industry is responsible for a significant proportion of emissions and consumption of energy and resources. According to the United Nations Environment Programme (UNEP), buildings produce around a third of global CO2 emissions over their life cycle and are responsible for an estimated 40% of global energy consumption. Given its business model, Swiss Prime Site is in a position to promote sustainability throughout the real estate supply chain and contribute towards SDG 13 – Climate Action – and recognises its responsibility to do so. The key elements in combating climate change are the reduction of greenhouse gas emissions and the implementation of a systematic CO2 reduction strategy across the construction and operation of properties.