The UK housebuilding industry is continually changing. Undertaking materiality reviews helps us structure our approach to being a responsible businesses by identifying the topics that matter most to our business and our stakeholders so that we can look to address these.
Our business strategy, Our Vision, is updated every two years to respond to key challenges and opportunities facing Berkeley, our industry and other business sectors.
To inform our commitments for 2018-2020, an in-depth review of key industry, national and global issues was initially completed to identify a long-list of potential commitment themes.
In early 2018, a materiality assessment was conducted with the support of an objective external party to determine which of these topic themes are of most importance to internal and key external stakeholders:
We used the results of this work to shortlist topic themes for further consultation with each of our autonomous companies and specialist committees to develop our commitments. This included holding five roundtable events attended by stakeholders from across the business and detailed conversations with Main Board Directors.
We continue to engage with stakeholders and the industry to ensure that we address the issues that matter most, and welcome any feedback. We intend to formally engage again with external stakeholders in our next materiality review, which is due to begin in autumn 2019.