Vicinity is the second largest listed manager of Australian retail property, managing $27 billion in retail assets across 67 shopping centres. Vicinity engaged Edge in a project to create a clear pathway to manage procurement categories that were identified to be of high modern slavery risk and align Vicinity’s procurement framework with ISO20400 Sustainable Procurement Guidelines.
Edge undertook a gap analysis and used an in-house benchmarking tool to map Vicinity’s current procurement process against the requirements of the Modern Slavery Act 2018, ISO20400, as well as external reporting frameworks and tools including GRESB, DJSI, GRI and Green Star Performance. The mapping of Vicinity’s sustainable procurement framework, the external benchmark assessment and the gap analysis brought together the information and insight needed to create an implementation plan.
The implementation plan set out the pathway for Vicinity to achieve best practice compliance to the Modern Slavery Act 2018 requirements while aligning to the ISO20400. The implementation plan delivered recommendations for the most impactful areas for improvement across policies and processes, provided in a prioritised action plan with specific tasks, responsibilities and timelines.