Our sustainability strategy positions our business to create long-term value by focusing on issues that matter most to our stakeholders. Presented as infographics, the case studies below explain how Stockland is meeting the challenges of climate change, community liveability, excellence in sustainable development, and equitable workplaces.
An independent review of our Retirement Living portfolio by EY concluded that our retirement living villages create over $300 million in social value annually. The government benefits from this social value through over $162 million of avoided costs for hospitalisation, GP visits, and mental health consultations. Furthermore, our retirement living residents enter aged care around five years later than national averages, representing further savings to government on aged care costs.
Social value is also created for local communities in the form of increased spending and volunteering contributions of our residents. Our residents themselves also experience social value, ranging from an increased sense of safety when they move in, to enhanced social connectedness and greater independence as they settle in.
The infographic below provides greater detail on how our Retirement Living portfolio creates social value for our residents, government, and local communities.
Since 2006, we have halved the carbon emissions intensity of our Retail, Office and Business Parks portfolio, and are on track to exceed our target 60 per cent reduction by 2025. We have also committed to net zero emissions by 2030 across our Logistics portfolio, Retirement Living operations, and corporate head offices. Our emissions reductions are a result of our strategic focus on energy efficiency and renewable energy – a focus that has also resulted in financial savings for us and our tenants.
This infographic provides more information on our emissions reduction initiatives.
We have been at the forefront of the use of on-site renewable energy, having invested $33 million in an expected 18 MW of solar PV capacity by 2020. Our investment in solar is forecast to return in excess of ten per cent average yield over ten years, and is central to meeting our target of a 60 per cent reduction in carbon emissions by 2025.
Alternative energy such as solar power has been a focus of our sustainability strategy since 2014. We will continue to explore opportunities to expand the use of rooftop solar across our portfolio.
This infographic shows where we have installed on-site solar across our Commercial Property portfolio, and why it makes good business sense.
We acknowledge that climate change presents risks and opportunities for our portfolio. Since 2012, we have used our climate and community resilience assessment process to manage physical climate-related impacts such as cyclones, floods and heatwaves. We have learned that enhancing climate resilience can improve business continuity and community wellbeing, while reducing costs associated with maintenance and insurance.
We were the first Australian property company to publicly disclose our approach to climate risk in accordance with the Task Force on Climate-related Financial Disclosures, which included our climate resilience assessment process and how we have supported the transition to a low carbon economy.
This infographic shows how our resilience assessment process results in climate-resilient assets and communities.
Since 2011, we have used our customer-driven research to develop guiding principles for liveable communities. These principles inform project planning, community evaluation, place making, and collaboration.
We set liveability targets for our communities and engage with our residents to understand what's working and what needs to change.
Our engagement shows that life is better in a Stockland community. This infographic explains more about our Liveability Index and some recent results from our research.
Since 2013, we have provided over $34.4 million in support to residents and customers across our retail town centres, residential communities, and retirement living communities. Every year, we provide Stockland CARE Grants to local community groups and partner with national community organisations to deliver activities on the ground that support our community focus areas of health and wellbeing, community connection, and education.
Since the founding of the Stockland CARE Foundation in 2015, we have provided over $1 million to Stockland CARE Foundation partners Touched by Olivia and Redkite, to support inclusive communities and young people with cancer.
This infographic shows more about what our community contribution delivers on the ground.
We are proud to own the most Green Star Design & As Built rated retail town centres, and to have designed the most Green Star rated residential communities in Australia.
We use Green Star to provide independent verification of the sustainability performance of our properties and developments, and to continuously lift the industry benchmark for efficient, healthy, thriving places.
This infographic explains how our focus on Green Star delivers better experiences for our customers, stronger communities for our residents, and enhanced value for our investors.
Our commitment to the health, safety and wellbeing of our employees and suppliers helps us to deliver great places.
Our flexible work arrangements, our focus on diversity and inclusion, and our citation as an Employer of Choice for Gender Equality are just some of the factors that contribute to our consistently high levels of employee engagement.
We work with our suppliers and other partners to extend our influence, collaborating with them to reduce our carbon footprint, select sustainable materials, and support local employment.
This infographic provide more detail about how sustainability priorities enrich our value chain.