CR&S Report 2009 - Stockland

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ContentsMessage from our CR&S Committee 2About Stockland 4Value chain 6Key financial results 7Governance and risk management 8Government relations 8Our CR&S approach 10FY09 highlights 11Memberships and awards 11CR&S strategy 13About this report 14Stakeholder engagement 15Commercial Property 17Residential and Retirement Living 18Stockland UK 20Responsible investment performance summary 21Valuing our people 22Employee engagement 24Capability development 27Embedding sustainability 28Employee health and safety 29Employee profile 31Our customers and suppliers 32Responding to our customers 35– Commercial Property 35– Residential 36– Retirement Living 37Engaging with our suppliers 37Community 38Community development 40Community involvement 42Climate change and energy 44Understanding climate change 46Regulation 48Energy efficiency in existing buildings 50Energy efficiency in new buildings 52Energy Metrics 53Natural resources 58Biodiversity 60Water 62NABERS Office Energy and Water ratings 65Waste 67Global Reporting Initiative (GRI) Index 68Independent Assurance Statement 76Stockland contactsback coverStockland Corporate Responsibility & Sustainability Report 2009ABOUT STOCKLANDStockland is one of Australia’s most diversified property groups with total assetsof over $8.7 billion and operations in Australia and the United Kingdom.6 754213WHERE WE OPERATE1 Sydney, Australia2 Melbourne, Australia3 Brisbane, Australia4 Perth, Australia5 London, UK6 Glasgow, UK7 Edinburgh, UK4Stockland Corporate Responsibility & Sustainability Report 30 June 2009
BUSINESS BY GEOGRAPHYBUSINESS BY ASSETNSW 46%ACT 2%QLD 23%VIC 18%WA 7%SA 1%UK 3%Office 26%Industrial 11%Retail 37%Retirement Living 4%Apartments 5%Communities 17%ABOUT STOCKLANDStockland is one of Australia’s most diversifiedproperty groups with total assets of over$8.7 billion and operations in Australia and theUnited Kingdom. We are a top 50 AustralianSecurities Exchange Listed Company (ASX:SGP).Founded in 1952, we have grown to becomeone of Australia’s leading diversified propertygroups – developing and managing a largeportfolio of residential community, apartment,retirement living, retail, office and industrialassets.COMMERCIAL PROPERTYRetailWe have 39 retail centres valued at$3.9 billion that provide diverse shoppingand social experiences for customersand other stakeholders.OfficeWe have an office portfolio of 33 propertiesvalued at $2.8 billion. Our track record ofhigh portfolio occupancy levels, solid tenantretention and leasing results demonstratethe benefit of our commitment to strongtenant relationships. Our tenants includegovernment departments and blue chippublic and private companies.IndustrialOur industrial portfolio is valued at $1.1 billion,with 23 properties, incorporating well overone million square metres of building area.Our tenants include large-scale distribution,warehousing and logistics companies. Ourproperties are strategically positioned forlogistics, infrastructure and employment.RESIDENTIALResidential CommunitiesWe have 67 projects in New South Wales,Victoria, Queensland and Western Australiawith a total end value of approximately$15 billion. Our focus is on the creation ofmedium and large-scale masterplannedcommunities in key urban growth markets,ranging in size from 100 lots to 20,000 lots. Increating new communities we are involved inproviding infrastructure to meet local needs.ApartmentsWe acquire, design, project manage andmarket apartment and mixed-use projectsin urban locations. Our apartments businesshas responded to urban consolidationopportunities, providing accommodationoptions close to transport and employment.We have nine apartment projects with anestimated end value of $1.7 billion.Planning approvals are being soughtfor projects yet to commence, howeverdevelopment will only commence ifappropriate returns can be achieved.If not, sites will be sold in an orderlyfashion over the next two to three years.RETIREMENT LIVING*We have established our business asa top five retirement living operatorwithin Australia, with 3,974 establishedunits across Victoria and Queensland.Our portfolio also includes a short-tomediumterm development pipelineof over 2,900 units. The businessuses our land bank for futuredevelopments and draws on ourresidential development capabilities.STOCKLAND UKOur UK business is a propertydevelopment and asset managementcompany spanning retail, officeand mixed-use property. We haveannounced an orderly withdrawalfrom the UK market, selling assetsover the next two to three years.STOCKLAND GROUP STRATEGYFoster an engagedculture that attractsand retains highperforming peopleAchieve bestpracticeoperationalefficiencyOur enduring strategic themesManage a coreportfolio ofhigh qualityproperty assetsOur vision:To create aworld classdiversifiedproperty groupOptimise sourcesof capitalInvest in profitableand complementarygrowth-focusedinitiativesActive managementof asset classand geographicdiversity tooptimise value* Retirement Living, formally part of ourResidential business, became a separatebusiness from 1 July 2009.Stockland Corporate Responsibility & Sustainability Report 30 June 2009 5
Page 1 and 2: 2009Corporate Responsibility & Sust
Page 3: Recognising the significance of thi
Page 7 and 8: Builder (principal contractor)We ge
Page 9 and 10: About Stockland - Progress and prio
Page 11 and 12: FY09 HighlightsOUR HIGHLIGHTS IN FY
Page 13 and 14: CR&S STRATEGYWe revised our CR&S st
Page 15 and 16: PRIORITYPROJECTS WITHA STAKEHOLDERP
Page 17 and 18: OUR CR&S APPROACHCASE STUDYStocklan
Page 19 and 20: Developing the Residentialsustainab
Page 21 and 22: United Nations’ Principles for Re
Page 23 and 24: Valuing our people - Progress and p
Page 25 and 26: The area in which we scored most fa
Page 27: Employee benefitsWe support our emp
Page 30 and 31: VALUING OURPEOPLEEngaging our emplo
Page 32 and 33: ContentsOur customers and suppliers
Page 34 and 35: OUR CUSTOMERSAND SUPPLIERSOUR CUSTO
Page 36 and 37: OUR CUSTOMERSAND SUPPLIERSRESPONDIN
Page 38 and 39: ContentsCommunity 38Community devel
Page 40 and 41: COMMUNITYRESIDENTIALPROJECTS WITHA
Page 42 and 43: COMMUNITYCOMMUNITY INVOLVEMENTOur c
Page 44 and 45: ContentsClimate change and energy 4
Page 46 and 47: CLIMATE CHANGEAND ENERGYCLIMATE CHA
Page 48 and 49: CLIMATE CHANGEAND ENERGYREGULATIONT
Page 50 and 51: CLIMATE CHANGEAND ENERGYTOTAL STOCK
Page 52 and 53: CLIMATE CHANGEAND ENERGYCLIMATE CHA
Page 54 and 55:
CLIMATE CHANGEAND ENERGYResidential
Page 56 and 57:
ELECTRICITY INTENSITY (kWh/m 2 ) FY
Page 58 and 59:
ContentsNatural resources 58Biodive
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NATURALRESOURCESNATURAL RESOURCESTh
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NATURALRESOURCESNATURAL RESOURCESCA
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NATURALRESOURCESNATURAL RESOURCESCA
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NABERS ratingsNow, in response to t
Page 68 and 69:
Global Reporting Initiative (GRI) i
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Page 72 and 73:
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Page 76 and 77:
Independent Assurance Statement76ST
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