We have approached sustainability management in an inclusive way; seaming together all business areas in a transversal manner. With guidelines flowing top-down and information & feedback flowing bottom-up.
There are several areas involved in our sustainability initiatives, however the operational structure to oversee economic, social and environmental issues can be described as follows:
In 2016, we created the sustainability department under the umbrella of Investor Relations Vice-president to ensure effective communication on non-financial results. This department is also supported by the Administrations and IT Vice-president, as well as the Vice-president of Operations regarding information gathering and initiative implementation.
In 2018 we created the sustainability committee which is presided by the Vicepresident of Administration and IT, and includes: Legal Vicepresident, all Portfolio Directors, Finance Director, Operations Directors, Human Resources Director, Marketing Director, Procurement Manager and Sustainability Manager. Other vicepresidents are invited on an ad-hoc basis.
The sustainability committee:
In 2019, FUNO pushed for the creation of the sustainability committee at AMEFIBRA, through which we seek to strengthen ESG best practices for the real estate sector in Mexico.
Our CEO directly over sees our Sustainability strategy including, budget and commitments; implemented by Vice Presidents, portfolio directors, and the sustainability director.
We strive to remain leaders in our sector; and this includes our ability to conduct our business in a sustainable manner. Our sustainability strategy focuses on material aspects and initiatives that will generate the most positive impact on our social and environmental surroundings.
Our materiality study allowed us to identify 6 action guidelines, which require strength within FUNO in all three aspects: Environmental, Social Responsibility and Corporate Governance.
These will be our focus points in the upcoming years 2017-2020. However, we do look forward to work in all relevant issues identified in our materiality study.
FUNO´s sustainability has been strengthening and has become institutionalized hand by hand with the organizations development and growth. In 2016, we created our corporate sustainability department and became signatories of the United Nations Global Compact, to support and promote best practices within the organization related to environment, human rights, labor practices and anti-corruption.
As a result of our commitment to the UNGC, the above-mentioned action guidelines have also been aligned with the Sustainable Development Goals, to which Mexico has commited and FUNO willingly contributes to their achievement.
Defining our sustainability strategy, took several months, through this process, we defined: what sustainability meant for FUNO? Which were our key issues? What is the reference background? And all of the above, led to defining our 6 action guidelines.
For our materiality assessment, we adopted the “International Integrated Reporting Framework” principles, which stablish that an organization should focus and report on those issues affecting substantially, the ability of such organization to create value in the short, medium and long term.
Our materiality assessment was conducted by an independent professional consultant, who used an approved methodology to identify relevant issues for our stakeholders; it allowed us to establish six action guidelines which will be the focus of our efforts in the next few years.
As a result, we obtained our materiality matrix and the level of risk and maturity for different issues. The assessment considered three aspects for every issue:
Our materiality assessment covered all our operations; including office, industrial and retail. Similarly, we identified good business practices at the international level, risk for every issue and the focus and attention given by the following stakeholders:
To these, we added the results of interviews conducted to employees and sustainability analysts. Our assessment identified 26 relevant issues to our stakeholders: