What are the material issues the company has identified? 

In its 2020-21 Sustainability Report Godrej Properties identified a range of material issues, such as ethics and transparency, employee welfare, energy efficiency, customer wellbeing. Among these, creating economic value for its stakeholders stands out as a key material issue for Godrej Properties.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Godrej Properties engages with:

To identify and prioritise material topics Godrej Properties engaged with its stakeholders through the following channels:

Stakeholder Group	Method of engagement
Customers	·      Customer Feedback Channels
Employees	·      Internal Surveys
Consultants	·      Feedback Surveys
Suppliers/ contractors	·      Feedback Surveys
Local communities	·      Interactions and Surveys
Investors	·      Investor Meets
Local government bodies	·      Meetings and Personal Interaction
Agencies	·      Feedback Surveys

What actions were taken by Godrej Properties to create economic value for its stakeholders?

In its 2020-21 Sustainability Report Godrej Properties reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2020-21, Godrej Properties paid INR Crores 299.56 for employee benefits.

• Creating economic value for providers of capital
• In 2020-21, Godrej Properties paid INR Crores 184.86 to providers of capital.

• Creating economic value for the government
• In 2020-21, Godrej Properties paid INR Crores 103.77 in taxes.

• Creating economic value for communities
• In 2020-21, Godrej Properties spent INR Crores 6.67 in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

• Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
• Targets: 8.1, 8.2
• Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
• Targets: 9.1, 9.4, 9.5

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

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References:

This case study is based on published information by Godrej Properties, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://d1jys7grhimvze.cloudfront.net/backoffice/data_content/sustainability_reports/GPL_Sustainability_Report_2020-21.pdf

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