What are the material issues the company has identified? 

In its 2023 Sustainability Report MMS identified a range of material issues, such as climate change, data privacy and cyber security, governance and business ethics, accessibility and social inclusion. Among these, creating economic value for its stakeholders stands out as a key material issue for MMS.

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 MMS engages with:

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

Stakeholder Group	Method of engagement
Investors	·      Meetings with Executives and Directors ·      Full and half year results presentations ·      Analyst briefings ·      Investor roadshows ·      Annual General Meeting
Customers (B2C)	·      Daily interactions via call centres and digital platforms (Apps, Websites, Maxxia Online and RemServ Online, LiveChat, emails and social) ·      Customer surveys ·      In-person and online education sessions ·      Social media ·      Complaints management processes
Clients (B2B)	·      Formal and informal meetings with relationship managers and events (e.g. boardroom lunches, speaker events, charitable events)
Employees	·      Internal communication channels ·      Video communications from the CEO ·      Annual staff roadshow ·      Employee engagement surveys and pulse checks ·      Learning and development programmes
Suppliers	·      Formal and informal meetings ·      Contract renewals and risk assessments
Government/ regulators	·      Regular meetings and ongoing engagement ·      Industry conferences ·      Submissions to inquiries
Industry associations	·      Ongoing engagement with peak industry bodies, including Director and Secretary responsibilities of the National Automotive Leasing and Salary Packaging Association (NALSPA) ·      Members of the Australian Finance Industry Association (AFIA), the Electric Vehicle Council (EVC), the Disability Intermediaries Association (DIA) and the Australian Network on Disability (AND)

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

In its 2023 Sustainability Report MMS reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In FY23, MMS paid $M 174.0 in salaries and related employee expenses.

• Creating economic value for shareholders
• In FY23, MMS paid $M 91.9 in dividends.

• Creating economic value for the state
• In FY23, MMS paid $M 27.7 in dividends.

• Creating economic value for communities
• In FY23, MMS spent $ 464,659 in corporate donations and sponsorships.

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

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

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References:

This case study is based on published information by MMS, 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://mmsg.com.au/wp-content/uploads/2023/09/FY23-Sustainability-Report-FINAL.pdf

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