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.
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.
Management at Forest City has noted that the materiality assessment is prompting increased internal collaboration between risk management, strategy, and CSR.
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
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
Name of the organization
Primary brands, products, and services
Location of organization’s headquarters
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
Nature of ownership and legal form
Scale of the reporting organization
Total workforce by employment type, employment contract, and region, broken down by gender
Percentage of total employees covered by collective bargaining agreements
Description of the organization’s supply chain
Significant changes during the reporting period regarding organization's size, structure, ownership, or supply chain
Whether and how the precautionary approach or principle is addressed by the organization
Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or endorses
Memberships in associations and/or national/international advocacy organizations
Entities included in the organization consolidated financial and nonfinancial reports
Process for defining report content
Material aspects identified in the process for defining report content
For each material aspect, the aspect boundary within the organization
For each material aspect, the aspect boundary outside the organization
Explanation of the effect of and reasons for any restatements of information provided in earlier reports
Significant changes from previous reporting periods in the scope and aspect boundaries
List of stakeholder groups engaged by the organization
The basis for identification and selection of stakeholders with whom to engage
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
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
Date of most recent previous report
Contact point for questions regarding the report or its contents
‘In accordance’ option and GRI Content Index
Policy and current practice with regard to seeking external assurance for the report
Governance structure of organization, including committees of the highest governance body
The organization’s values, principles, standards, and norms of behavior such as codes of conduct and codes of ethics
Disclosure on Management Approach for Aspect
Coverage of the organization’s defined benefit plan obligations.
Financial assistance received from government.
Significant indirect economic impacts, including the extent of impacts.
Total number and rates of new employee hires and employee turnover by age group, gender and region.
Average hours of training per year per employee, by gender and by employee category.
Percentage of employees receiving regular performance and career development reviews, by gender and by employee category.