Sino Land Archives - SustainCase - Sustainability Magazine Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Fri, 20 Oct 2023 06:00:32 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 Case study: How Sino Land creates economic value for its stakeholders https://sustaincase.com/case-study-how-sino-land-creates-economic-value-for-its-stakeholders/ Fri, 20 Oct 2023 06:00:32 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15472 Sino Land Company Limited, headquartered in Hong Kong, is one of three companies of Sino Group, whose core business encompasses the development of residential, office, industrial and retail properties for sale and investment in Mainland China, Hong Kong, Singapore and Sydney. , ensuring that they all grow more resilient together. This case study is based on the 2022 Sustainability Report by Sino Land, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s […]

The post Case study: How Sino Land creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Sino Land Company Limited, headquartered in Hong Kong, is one of three companies of Sino Group, whose core business encompasses the development of residential, office, industrial and retail properties for sale and investment in Mainland China, Hong Kong, Singapore and Sydney. Sino Land seeks to create long-term value for its stakeholders and the communities in which it operates  Tweet This!, ensuring that they all grow more resilient together.

This case study is based on the 2022 Sustainability Report by Sino Land, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. 

Sino Land has integrated sustainability into all aspects of its business and operations while deploying innovative solutions, as it seeks to create sustainable value for all its stakeholders for a healthier and better future. In order to create economic value for its stakeholders Sino Land took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for the state
  • create economic value for the community

What are the material issues the company has identified?

In its 2022 Sustainability Report Sino Land identified a range of material issues, such as climate resilience and GHG emissions, ethics and integrity, health and safety, energy consumption and efficiency, sustainable buildings. Among these, creating economic value for its stakeholders stands out as a key material issue for Sino Land.

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 s 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 Sino Land engages with:

Stakeholder Group                Method of engagement
Executive Board Members ·      One-on-one interviews

·      Surveys

·      Regular meetings
Investors/Analysts/ Shareholders

 

 

 ·      Surveys

·      Annual general meetings

·      Annual and interim reports

·      Press releases, announcements and circulars

·      Investor conferences

·      Analyst briefings
Employees

 

 

 ·      Surveys

·      Town hall and mini-town hall meetings

·      Staff magazine and app (InSino)

·      New hire orientation

·      Intranet (SinoNet)

·      Sinovation programme

·      Sino Sustainability Academy

·      Grievance mechanisms
Tenants/Customers/ Residents

 

 ·      One-on-one interviews

·      Surveys

·      Handover service surveys (property buyers)

·      Customer satisfaction surveys

·      Home visits by property management teams

·      Customer service hotline

·      Regular gatherings

·      Social media

·      Daily personal contact

·      Mailings and publications (LifeScape)

·      Sino Club

·      Grievance mechanisms
Partners/Suppliers/ Contractors

 

 

 

 ·      One-on-one interviews

·      Surveys

·      Tendering process

·      Meetings and conferences

·      Exhibitions

·      Site visits

·      Grievance mechanisms
Peers

 

 ·      Surveys

·      Industry events

·      Joint projects

·      Meetings and conferences
Academia

 

 ·      One-on-one interviews

·      Surveys

·      Joint projects
Government

 

 ·      One-on-one interviews

·      Surveys

·      Joint projects

·      Meetings and conferences
Trade Associations/ Industry Organisations

 

 ·      One-on-one interviews

·      Surveys

·      Industry events

·      Meetings and conferences
Media

 

 ·      Surveys

·      Press releases

·      Media briefings, conferences and luncheons

·      One-on-one interviews

·      Social media
NGOs/Local Communities

 

 ·      One-on-one interviews

·      Surveys

·      Regular meetings with green and community partners

·      Joint projects

·      Volunteer opportunities

·      Charitable events

·      Art exhibitions and functions

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Sino Land engaged with over 700 individuals representing 11 key stakeholder groups, including senior management, who participated in a stakeholder engagement exercise by either completing an online questionnaire or participating in interviews.

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

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

  • Creating economic value for employees
  • In 2021/2022, Sino Land paid HK$ 1,572,902,250 for employee wages and benefits.
  • Creating economic value for providers of capital
  • In 2021/2022, Sino Land paid HK$ 6,276,733,848 to providers of capital.
  • Creating economic value for the state
  • In 2021/2022, Sino Land paid HK$ 337,541,289 in Hong Kong profits tax and HK$ 60,757,803 in taxation in other jurisdictions.
  • Creating economic value for the community
  • In 2021/2022, Sino Land spent HK$ 17,721,000 in community investment (i.e. charitable donations and sponsorship).

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:

 

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.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

This case study is based on published information by Sino Land, 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://web-media.sino.com/20a53f0a-15c8-0029-b8df-e495023b403f/c9c7c415-b520-469c-b58f-8a421b87cd1b/Sino Land Company Limited Sustainability Report 2022 %28English%29.pdf

Note to Sino Land: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Sino Land creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]>