Materiality and the reporting boundary
Report scope and boundary
This report covers the period from 1 July 2019 to 30 June 2020 (FY20) for the financial reporting entity Growthpoint Properties Limited. The report provides an overview of the operations and performance of all businesses, which encompass the South African businesses, including its share in the V&A Waterfront (V&A), Funds Management and Trading and Development, as well as its non-South African interests, which include its share in Growthpoint Properties Australia (GOZ) , Globalworth Real Estate Investments (GWI), Growthpoint Investec African Properties (GIAP) and Capital & Regional (C&R). These businesses have been depicted in a simplified ownership and legal structure.
Information represented in this report provides a holistic view of the business strategy, the drivers thereof and the various elements influencing the sustainability and success of the company. Given the nature of the business and its strategic aspirations, the report has identified elements that are pertinent to the organisation and its stakeholders and which contribute to the creation of value for the business. Materiality determination and the reporting boundary were informed by key stakeholder matters and ongoing stakeholder engagement, including non-financial items beyond the scope of reporting on entities that could have a significant effect on the company’s ability to create and sustain value over time.
- Organisational strategy and progress
- Management and employee contributions
- Operational management and developments
- Contribution to society
- Approach to and integration of environmental issues
- Financial factors and indicators
- Group investments
Each area of business is linked to the business strategy with both opportunities and risks identified. We have provided an indication of our approach to dealing with these factors in the short, medium and long term, as well as their likely impact on the different capitals. We remain cognisant of external elements that influence our business context and have commented thereon from our perspective. Information regarding the social, economic, environmental and governance issues that could have a material impact on the long-term success of the business and that are important to key stakeholders is provided. Details on the performance of international investments in relation to ESG can be found in the respective geographic entity reports.
The report focuses primarily on meeting the needs of shareholders, analysts and investors who wish to make an informed assessment of Growthpoint’s ability to achieve its mission to create value for all our stakeholders through innovation and sustainable property solutions.
This report is part of a suite of reports issued at the financial year end and should be read in conjunction with the AFS, AGM notice and the ESG report.