What are the material issues the company has identified? 

In its 2022 Sustainability Report Sagax identified a range of material issues, such as climate adaptation, anti-corruption, more efficient energy consumption, employee skills. Among these, creating economic value for its stakeholders stands out as a key material issue for Sagax.

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 Sagax engages with:

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

Stakeholder Group	Method of engagement
Shareholder	·      Board meetings, of which one meeting each year is a strategy meeting ·      Meetings with owner representatives for special discussions about corporate governance ·      General Meeting ·      Financial statements
Employees	·      Employee dialogue ·      Workshops ·      Business planning ·      Annual conference for all employees ·      Regular reviews with all employees about the company’s policies
Lenders	·      Individual meetings with banks and representatives from the capital markets ·      Dialogue regarding financial statements
Tenants	·      Customer meetings ·      Regular dialogue about property management with each facility management firm of the properties ·      Dialogue between tenants and the appointed asset manager for each property
Suppliers	·      In procurement, following-up framework agreements and purchase orders ·      At supplier meetings

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

In its 2022 Sustainability Report Sagax reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, Sagax paid SEK 135 million in employee expenses.

• Creating economic value for the state
• In 2022, Sagax paid SEK 937 million in tax.

• Creating economic value for creditors
• In 2022, Sagax paid SEK 492 million to creditors.

• Creating economic value for owners
• In 2022, Sagax paid SEK 1,111 million to owners (proposed dividend).

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

 

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References:

This case study is based on published information by Sagax, 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://www.sagax.se/sites/default/files/2023-05/H%C3%A5llbarhet%202023%20ENG.pdf

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