Materiality analysis

What do our stakeholders think?

Once every two years, we explore the issues that internal and external stakeholders consider most material and which are essential to pursuing our strategy. These have been analysed and are now included in our integral policy.

Materiality analysis process

Materiality analysis process

Materiality analysis

In 2014, we conducted an initial comprehensive materiality analysis, entirely in accordance with the G4 guidelines. In 2015 we classified these aspects according to the IIRCs Six Capitals.

The following capital icons in respective order for financial, manufactured, intellectual, human, social, and natural are used throughout the CSR report.

6 capitals icons

In 2016, we once again conducted a materiality study to determine whether the non-financial issues we have presented in recent years are still relevant and valuable to our stakeholders, and to ascertain whether these issues are still sufficiently in line with our strategic plans. To gain a good impression, we used a questionnaire to find out what our customers, investors and employees think. This together with the ongoing dialogue with our stakeholders, employee survey, and the benchmark results enabled us to update our materiality matrix.

The following aspects were found material and the appropriate performance indicators (PIs) have been added to our data gathering:

  • Corporate reputation and ethics
  • Compliance with law and regulations
  • Employee satisfaction and employment practices

In the coming years, we will further focus on these and carefully monitor the appropriate data.

The outcome of the materiality analysis also indicated that water consumption is not a relevant issue for Q-Park. Nevertheless, we have decided to include this topic in our continuous data gathering as it is relevant for different benchmarks such as the Global Real Estate Sustainability Benchmark (GRESB).

Materiality

Q-Park materiality matrix 2016

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  1. Economic performance
  2. Partnerships
  3. Corporate reputation and ethics
  4. Employee satisfaction and employment practices
  5. Parking integrated with other modes of transport
  6. Customer satisfaction
  7. Facilitating cars with enhanced env. performance
  8. Accessibility of parking facilities
  1. Compliance with law and regulations
  2. Training and education
  3. Parking information
  4. Energy consumption
  5. Innovation and digital capabilities
  6. Transparent and integrated reporting
  7. Local community: health and safety
Materiality stakeholders

Stakeholders and materiality aspects identified

Sustainable Development Goals

In 2016 we took the first steps towards shaping our corporate social responsibility (CSR) policy on the benchmarks set in the UN 17 Sustainable Development Goals (SDGs). These are a set of aspirational Global Goals with 169 targets between them, established in 2015 to address the biggest global issues – from poverty to climate change.

In line with our social commitment to playing our part in addressing these fundamental challenges we will identify ways in which Q-Park can best add value to this. By the end of 2017 we will have integrated our findings on our role in accelerating change with the UN SDGs. We are setting concrete sustainability goals to be met by 2030, with 2017 as baseline, as well as initiating concrete supporting actions.

While Q-Park is committed to supporting all 17 SDGs we will focus on how we can make progress on the goals that are material to us, and on those goals on which our business has the biggest impact.

SDG inverted

UN 17 Sustainable Development Goals

In dialogue with stakeholders

In 2016, we were in dialogue with our stakeholders concerning the strategy and targets set. We received positive as well as negative feedback. Sometimes, this led to dilemmas which we then discussed in more detail or for which we sought solutions together.

In 2016, we also held an international employee survey, People Performance Index (PPI), as well as various in-market customer satisfaction surveys, respectively in the Netherlands and in the United Kingdom (see Human).

Who are our stakeholders?

We have analysed our stakeholders and their interest in our company and operations. In the following table we have identified them, their concerns and our response.

Stakeholder dialogue

Stakeholder dialogue

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Stakeholders

Topic

Our response

Shareholders

Shareholders are concerned about car usage and car parking in the future, due to developments in the autonomous vehicles and car-sharing concepts.

We monitor developments that influence the car parking market closely. We share insights with each other and with third parties to ensure we can respond appropriately.

Shareholders are concerned about the value of the investment property.

The valuation in 2016 was good and has been confirmed by the external valuer. In addition, the cash flows generated are developing positively. We continue to invest to maintain and strengthen the value. For further details, please refer to the 2016 Annual Accounts.

Customers

Online pre-booking is important: customers want to be able to plan ahead for events and trips so they can be certain of having a parking space.

We have developed our own back-office system to improve the service we offer. This system enables customers to pre-book a parking space or manage their season ticket. It enables CCV contactless payment which increases customer convenience on entering and exiting a car park.

Business partners

Partners want to offer their customers the most recent relevant developments, including digital payment methods, pre-booking, permits and above all, online convenience.

We work together with many parties on developments concerning payments. The new CCV card reader, which enables access and exit with a payment card and also uses the card as identification is already available and installed at many parking facilities. Privacy is guaranteed by means of tokenisation.

Municipalities

How will municipalities respond to the call from citizens and retailers for free parking? And how will we, as a partner to municipalities, deal with the response?

We have regular discussions with municipalities about what makes a sustainable mobility policy and the role of regulated and paid parking. We also share the results of relevant studies.

Large cities want to see fewer cars on the streets.

We examine parking capacity management and help municipalities devise and implement a workable strategy. For example: parking permit holders in Amsterdam can park their cars in a Q-Park car park in the evening.

Government and politics

Emissions must be reduced and accessibility to cities as well as the quality of life should be improved.

Q-Park discusses sustainable mobility policy and the role of paid parking within this policy with municipalities – the main aspect is providing relevant information about alternative mobility solutions in order to reduce traffic cruising for a place to park.

A frequently asked question concerns electric cars and charging stations whether they should be in the public space (on-street) and/or why and when they should be available in car parks.

Q-Park is committed to creating more charging stations in its parking facilities and places these where they will be useful, often in consultation with municipalities.

Employees

Health and safety is and remains paramount.

We train our employees in conflict management, and in heart resuscitation and how to use an AED. We will continue to offer this practical training.

By encouraging card payments we reduce the amount of cash in circulation at parking facilities. This is safer for our customers as well as for our employees.

Sometimes paid parking leads to discussions or misunderstanding in the social sphere.

We provide information online and give training to our employees about Q-Park's added value.

We continually inform our employees and substantiate what we do and why. See also www.q-park.com.

Symposium on the future of paid parking

In June 2016, we invited our shareholders, banks, management and strategic partners to our inaugural symposium entitled ‘The Future of Paid Parking’ held at the Eindhoven University of Technology Automotive Campus in Helmond, the Netherlands.

The aim was to generate discussion and ideas on the future of paid parking based on presentations given by thought leaders from various parts of the automotive and mobility sectors.

Symposium

There were four informative and inspiring presentations to stimulate creative thinking on the following themes:

  • Carlo van de Weijer (TU Eindhoven & TomTom) on behaviour of the informed traveller,
  • George Gelauff (Knowledge Institute on Mobility) on what we can expect from intelligent cars (AVs),
  • Joachim Hauser (BMW Park Now) on driving with your smartphone and how the Internet of Things (IoT) and car of the future will interact,
  • Giuliano Mingardo (Erasmus University Rotterdam) on the role of municipalities and the retail sector.
Symposium opening