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Contents Message from our CR&S Board Committee 2 FY10 key achievements and priorities 5 Awards 6 Memberships 7 About Stockland 8 Our business 9 Governance 12 Key financial results 13 Our approach 14 Our reporting approach 15 Corporate Responsibility & Sustainability strategy 17 Stakeholder engagement 22 Stockland UK 28 Our people 30 Our people – progress and priorities 31 Employee engagement 32 Learning and development 38 Employee metrics 41 Our marketplace 44 Our marketplace – progress and priorities 45 Our customers 47 Our suppliers 52 Our investors 54 Our industry and government 55 Our community 60 Our community – progress and priorities 61 Community development 63 Community involvement 66 Climate and our environment 70 Climate and our environment – progress and priorities 71 Climate change and energy 74 Our natural environment 83 NABERS ratings 91 Global Reporting Initiative (GRI) Index 93 Independent assurance statement 105 Contact us 108 Cover photo: 2 Victoria Avenue, Perth. Photo montage of Perth’s iconic attractions and key stakeholders involved in all stages of the building’s development. 4 Stockland Corporate Responsibility & Sustainability Report June 2010
FY10 key achievements and priorities Past Last year, we said we would: Present This past year, we have: Results Future In the coming year, our priorities are to: Further embed stakeholder engagement plans for projects and business units to support shorter approval times and manage issues that are important to our stakeholders. Streamline our CR&S approach to create more consistency across our business units and properties. Implement community development initiatives across Commercial Property and Residential projects. Continue to reduce the intensity of greenhouse gas emissions and water use across our Commercial Property assets. Continue to assess climate change risk for our projects, including possible sea level rise and extreme weather events such as bushfires. Received significant global and national recognition for our sustainability performance. This included being listed in Corporate Knights’ Global 100 Most Sustainable Corporations in the World, scoring third in the newly established Global Environmental Real Estate Index for listed property groups and being awarded Ethical Investor’s Sustainable Company of the Year. Worked closely with Group Risk, Group Strategy, Human Resources and Corporate Affairs to strengthen the consistency of our CR&S approach across the organisation. Commenced aligning and integrating environmental data collection systems across the business, including the transfer of greenhouse gas data collection to our finance teams and the integration of Residential, Retirement Living and Commercial Property environmental data collection into one system. Rolled out stakeholder engagement plans across all of our projects. Launched sustainability strategies and policies across our business units: Retirement Living, Residential and Commercial Property (operational and development). These strategies were created in alignment with the revised Group CR&S strategy. Allocated dedicated resources to community development in our Commercial Property and Residential businesses. Revised our Residential community development approach and toolkits. Reduced emissions by 7 per cent across our office portfolio, however we increased our emissions by 2 per cent across our retail portfolio. Incorporated our Residential and Retirement Living greenhouse gas emission data into our Climate Change Action Plan tool. Confirmed our Commercial Property carbon targets with our evidence-based target-setting tool. Completed climate change risk assessment for our Residential and Retirement Living assets in relation to sea level rise and bushfires. FY10 Achievement FY10 Priority FY10 Priority Achieved outcome Achieved outcome Achieved outcome Ongoing Achieved outcome > Improve how we communicate our approach to sustainability so that we increase awareness of our areas of focus, achievements and our position on key issues. > Continue to take a collaborative approach in the annual review of our CR&S strategy and identification of material sustainability issues. > Complete the transfer of responsibility for greenhouse gas data collection from our sustainability teams to our group and business unit finance teams. > Continue to improve and broaden our greenhouse gas emission data collection and reporting systems. > Continue to improve the quality of stakeholder engagement at regional and asset level, and realise the benefits of this approach. > Focus on translating our group and business unit sustainability strategies into day-to-day business actions. Particular emphasis will be placed on sustainability performance and innovation at an asset level. > Deliver training and awareness programs across the organisation to ensure that we deliver on our commitments at both a corporate and project level. > Refine our Commercial Property and Residential community development approach, and realise tangible outcomes on our projects. > Launch aligned Retirement Living and Commercial Property community development toolkits. > Deliver on our five year greenhouse gas emission and energy use intensity reduction targets: • reducing our greenhouse gas emissions and energy use intensity across our Commercial Property portfolio by 20 per cent from FY09 to FY14, • attaining a 4.5 Star average NABERS Office Energy rating for our office portfolio by FY14. > Develop greenhouse gas targets for our Residential and Retirement Living business units. > Develop a Distributed Energy strategy setting out a pathway for low carbon and renewable energy (generation and supply) for our existing assets and development projects. > Assess climate change risk for our Commercial Property assets. Stockland Corporate Responsibility & Sustainability Report June 2010 5
Page 1 and 2: Corporate Responsibility & Sustaina
Page 3: stockland CR&S Board Committee We a
Page 7 and 8: Memberships To promote sustainabili
Page 9 and 10: Our business What We Do We have a l
Page 11 and 12: Our Value Chain We own, manage and
Page 13 and 14: Key financial results Underlying pr
Page 15 and 16: Doing the right thing as a property
Page 17 and 18: Common Practices and Values Corpora
Page 19 and 20: Retirement Living Sustainability Po
Page 21 and 22: UN Principles for Responsible Inves
Page 23 and 24: Our approach to stakeholder engagem
Page 25 and 26: CASE STUDY Building better communit
Page 27 and 28: CASE STUDY Engaging our retailers -
Page 29 and 30: Stockland UK - progress and priorit
Page 31 and 32: Our people - progress and prioritie
Page 33 and 34: We are committed to acting on feedb
Page 35 and 36: CASE STUDY Parental transitions pro
Page 37 and 38: CASE STUDY Safe Work Week at Stockl
Page 39 and 40: CASE STUDY Gateway asset management
Page 41 and 42: Employee metrics All employee metri
Page 43 and 44: Employee turnover During the report
Page 45 and 46: Our marketplace - progress and prio
Page 47 and 48: Our marketplace comprises our relat
Page 49 and 50: CASE STUDY CSR 5 Star Green Star in
Page 51 and 52: CASE STUDY Housing affordability Ex
Page 53 and 54: In recognition of the need to conti
Page 55 and 56:
Over the past year we have enhanced
Page 57 and 58:
CASE STUDY Framing energy efficienc
Page 59 and 60:
CASE STUDY EnviroDevelopment at Poi
Page 61 and 62:
Our community - progress and priori
Page 63 and 64:
Community development Our community
Page 65 and 66:
Stakeholder engagement As outlined
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CASE STUDY Dress for Success Stockh
Page 69 and 70:
Measuring Community Investment We u
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Climate and our environment - progr
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Climate and our environment - progr
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CASE STUDY Retirement Living solar
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We will continue to strive for lead
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Total Scope 3 (kgCO 2 -e) FY10 FY09
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Our energy consumption Purchased el
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Our natural environment Biodiversit
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CASE STUDY Our ‘Green Office Fito
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Residential and Retirement Living w
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CASE STUDY 2 Victoria Avenue - Flag
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CR&S 2010 Nabers Ratings NABERS Off
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CR&S 2010 GRI Index Global Reportin
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GRI indicator 4. Governance, commit
Page 97 and 98:
GRI indicator Responded to in FY10
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
GRI indicator Society indicators Co
Page 105 and 106:
Independent Assurance Statement Sto
Page 107 and 108:
Banarra identified the following ar
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