CASE STUDIES

Forest City
2015 Materiality Assessment

Forest City Realty Trust (NYSE: FCE.A) is a national real estate company engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the United States. Since 2013, BrownFlynn has prepared Forest City’s annual Corporate Social Responsibility (CSR) Report.

In 2015, Forest City began transitioning to GRI G4 reporting standards. BrownFlynn led a full materiality assessment with Forest City to prepare them for their first GRI G4 report. Through the materiality assessment, we determined Forest City’s most material topics and identified areas of strength and opportunity among its peer group. The materiality assessment also prepared Forest City to respond to GRESB beginning in 2015, and CDP, beginning in 2016.

The results of the materiality assessment will inform Forest City’s sustainability strategy moving forward. Forest City will disclose on its material topics in its upcoming CSR report in 2016.

VIEW REPORT

HIGHLIGHTS

During the materiality assessment, BrownFlynn researched the sustainability plans and policies for each of Forest City’s seven core markets. This unique approach was highly beneficial in determining Forest City’s most material topics, in particular because it brought to light the goals of Forest City’s partners with whom they need to align.

RESULTS

Management at Forest City has noted that the materiality assessment is prompting increased internal collaboration between risk management, strategy, and CSR.

TESTIMONIAL

BrownFlynn’s work helped “set our direction, gauge how we are doing in the CSR space, track how and when to make changes to our CSR strategy, and most importantly, help us understand where to focus.”

– Jill Ziegler, Director of Sustainability and Corporate Responsibility

G4-1
Statement from the most senior decision-maker of the organization about relevance of sustainability to the organization and the organization’s strategy for addressing sustainability
G4-3
Name of the organization
G4-4
Primary brands, products, and services
G4-5
Location of organization’s headquarters
G4-6
Number of countries where the organization operates, and names of countries with significant operations or that are specifically relevant to the sustainability topics covered in the report
G4-7
Nature of ownership and legal form
G4-8
Markets served
G4-9
Scale of the reporting organization
G4-10
Total workforce by employment type, employment contract, and region, broken down by gender
G4-11
Percentage of total employees covered by collective bargaining agreements
G4-12
Description of the organization’s supply chain
G4-13
Significant changes during the reporting period regarding organization's size, structure, ownership, or supply chain
G4-14
Whether and how the precautionary approach or principle is addressed by the organization
G4-15
Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or endorses
G4-16
Memberships in associations and/or national/international advocacy organizations
G4-17
Entities included in the organization consolidated financial and nonfinancial reports
G4-18
Process for defining report content
G4-19
Material aspects identified in the process for defining report content
G4-20
For each material aspect, the aspect boundary within the organization
G4-21
For each material aspect, the aspect boundary outside the organization
G4-22
Explanation of the effect of and reasons for any restatements of information provided in earlier reports
G4-23
Significant changes from previous reporting periods in the scope and aspect boundaries
G4-24
List of stakeholder groups engaged by the organization
G4-25
The basis for identification and selection of stakeholders with whom to engage
G4-26
The organization’s approach to stakeholder engagement, including frequency of engagement by type and by stakeholder group, and an indication of whether any of the engagement was undertaken specifically as part of the report preparation process
G4-27
Key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded to those key topics and concerns, including through its reporting. Report the stakeholder groups that raised each of the key topics and concerns
G4-28
Reporting period
G4-29
Date of most recent previous report
G4-30
Reporting cycle
G4-31
Contact point for questions regarding the report or its contents
G4-32
‘In accordance’ option and GRI Content Index
G4-33
Policy and current practice with regard to seeking external assurance for the report
G4-34
Governance structure of organization, including committees of the highest governance body
G4-56
The organization’s values, principles, standards, and norms of behavior such as codes of conduct and codes of ethics
G4-DMA
Disclosure on Management Approach for Aspect
G4-EC3
Coverage of the organization’s defined benefit plan obligations.
G4-EC4
Financial assistance received from government.
G4-EC8
Significant indirect economic impacts, including the extent of impacts.
G4-LA1
Total number and rates of new employee hires and employee turnover by age group, gender and region.
G4-LA9
Average hours of training per year per employee, by gender and by employee category.
G4-LA11
Percentage of employees receiving regular performance and career development reviews, by gender and by employee category.