Triovest Realty Advisors Inc.: Triovest’s Clear Sustainability Priorities Enable Real Results
Triovest Realty Advisors solidified its sustainability priorities to align with business objectives and drive organizational performance.
Triovest wanted to ensure that its sustainability priorities were clear in relation to business objectives.
• All too often sustainability priorities are misaligned with a company’s broader business objectives
• Triovest wanted to identify priority issues to drive and refine business strategy, demonstrate transparency, and satisfy requirements to report publicly using the Global Reporting Initiative G4 standard
We completed the most-detailed stakeholder consultation to date in Canadian commercial real estate.
• Our materiality analysis followed a four-step process:
1. Identify sustainability issues for research
2. Conduct external and internal stakeholder interviews
3. Analyse materiality
4. Develop materiality matrix
• Triovest identified nine stakeholder groups (clients; community/NGOs; employees; government; industry associations; next generation (under 25); owner; suppliers; and tenants), and completed 20 internal and 17 external interviews
• From interview feedback, Triovest established a materiality matrix which identified the relative priority of issues to internal stakeholders and external stakeholders
We established clear and compelling priorities, and shared widely our lessons learned.
• Triovest created a materiality matrix that presents overall interviewee rankings of 31 issues – broken down into environmental, social, governance and financial categories – with regard to their level of importance
• Completing interviews and developing the matrix strengthened relationships with interviewees; improved understanding of priorities, underlying rationale, and differences in perspective; refined strategy; and increased foresight.
Our initiative achieved impact, demonstrated innovation, inspired and informed.
o Clear set of well-organized priorities for which we will establish key performance indicators, targets, and action plans to drive performance
o Compelling, public-facing 2014 Materiality Matrix
o Comprehensive, systematic process, and clear interview guide and supporting materials
• Inspire and inform:
o Detailed process-oriented “how to” case study in BOMA BESt 2015 National Green Building Report for others who are considering a similar initiative
o Knowledge-sharing presentation to REALpac Corporate Responsibility & Sustainability Committee and meetings with industry peers