Greengage developed an ESG strategy for Wildstone Capital, conducting a materiality assessment and producing an ESG policy framework and action plan.
Wildstone is a property company that acquires and manages outdoor advertising sites with a focus on digital, along with a substantial portfolio of analogue sites (paper and paste). With over 10 years of experience within the industry, Wildstone is helping shape the future of the advertising market through the digitisation of the UK’s out of home media assets. Wildstone has a growing portfolio of more than 5,000 outdoor advertising assets across the UK and Europe.
Our scope of works included the following key elements:
- Materiality assessment that included :
- ESG regulatory review and peer review
- Supply chain assessment
- UNSDG materiality study
- Development of an ESG policy framework
- Development of the ESG action plan
Materiality assessment
The first step for the ESG strategy was a desktop study to review the regulatory requirements in the UK and best practice approaches being implemented in the industry. Greengage reviewed the regulatory landscape to identify any regulations that may already impact Wildstone, as well as those that will come into effect in the next decade. Following this, we did a review of the industry standards being applied to report and track ESG progress. These included ISO 14001, Ad Net Zero and NABERS, amongst others. We also conducted a peer review to understand best practice within the wider industry.
Greengage supported Wildstone in carrying out supply chain engagement. This included surveying stakeholder expectations. We analysed the findings which were then included in the materiality matrix and ESG recommendations.
We developed a UNSDG materiality matrix for Wildstone to use as a baseline against which to measure their ESG targets. The peer review, ESG regulatory requirements, best practice review and the ESG survey responses review were used to formulate recommendations against each identified ESG area. Based on this analysis and the development of recommendations, as well as our own industry knowledge, Greengage was able to place each recommendation against all 17 UNSDGs. Greengage created a UNSDG materiality matrix as a visual aid to understand which UNSDGs are most material to Wildstone according to their business operations and stakeholder expectations.
ESG strategy
Based on the findings of the materiality study, Greengage identified areas in which policies should be developed to ensure the implementation and accountability of the ESG strategy. Each of these policies were clearly linked to one or multiple UNSDGs to track their impact.
Greengage helped the development of new policies and strategies to complement the existing approach. We also helped set out what each policy should contain and the actions that each policy and strategy document should follow.
