Verification Statement from Business for Societal Impact (B4SI) - 2024

Business for Societal Impact (B4SI) helps businesses improve the measurement, management and reporting of their corporate community investment programs. It covers the full range of contributions (cash, time and in-kind contributions) made to community causes.

As managers of B4SI, we can confirm that we have worked with Vicinity Centres to verify its understanding and application of the model with regards to the wide range of community investment programs supported.

Our aim has been to ensure that the evaluation principles have been correctly and consistently applied and we are satisfied that this has been achieved. It is important to note that our work has not extended to an independent audit of the data.

We can confirm that Vicinity Centres has invested the following amounts in AUD to the community in this 2024 B4SI reporting year as defined by the methodology.

Cash

$

1,274,638

Time

$

162,704

In-kind

$

735,692

Management

$

1,068,928

costs

TOTAL

$

3,241,962

In addition to verified figures, Vicinity Centres also reported the following outputs in their submission:

Leverage**

$

1,035,794

Revenue

$

3,000,690

foregone^

**leverage refers to additional third-party contributions facilitated by the company

^the revenue foregone for community benefit on fees, products and services provided free or discounted Please refer to Business for Societal Impact for detailed definitions as required

Verified by Anna Cheng

On behalf of Business for Societal Impact

Aug 2024

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Disclaimer

Vicinity Centres published this content on 22 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on September 19, 2024 at 09:00:08 UTC.