In 2018 we carried out a review of our material
sustainability issues. For this process we spoke to shareholders, joint venture
partners, non-executive directors and our retailers. We explored what was
changing in their sustainability priorities and concerns and the implications
they felt this had for our sector and particularly for the business.
Each factor was scored on the basis of its current
importance for the shareholders and how they expected it to change over the
next five years. These scores were combined with the views of the other
stakeholders and an internal score reflecting the significance of the issue to
company strategy and the ability of the business to influence of control the
issue. This analysis produced our priority order of material issues.
The risk heat map set out below includes the eight
sustainability risks we consider to be most significant for the business. The
map is based on the probability of the identified risk occurring and the
severity of the impact if it does occur. The analysis demonstrates that the
eight key sustainability risks are contained within the medium risk area of the
map. We consider each of the risk areas as being effectively managed but the
business is alert to their importance.
Sustainability risks are actively managed by the business and form part of our wider corporate risk framework as detailed in our Annual Report and Accounts. More detail on our approach to managing our identified sustainability risks is contained within our Sustainability Risk Framework 2020.
Sustainability risks are communicated through the
business via our Corporate
Responsibility Governance structure.