Our sustainability strategy focuses on our opportunity to deliver shared value; that is deliver economic value in a way that also creates value for society by addressing its needs and challenges.
We have clear strategic priorities to support our growth and deliver returns for our investors. Our sustainability strategy unites these priorities with a view to the future and our vision: To be a great Australian property company that makes a valuable contribution to our communities and country.
We have three core sustainability priorities that enhance our ability to deliver shared value.
Our goal is to create and shape communities that thrive now and into the future.
We seek to achieve this goal at our retail town centres, workplaces and business parks and in the residential and retirement living communities we create by focusing on health and wellbeing, community connection, and education.
We focus on these three social impact areas because our proprietary customer and industry research tell us that these are the areas that matter when our customers are deciding where to live, play, and shop.
Our focus on health and wellbeing is supported by research that illustrates the value residents place on parks, open spaces and recreational infrastructure, as well as a feeling of safety within their community. Infrastructure is critical in supporting community health and wellbeing, including accessible amenities and services, active public transport options, parks and recreation facilities, walking paths, cycle ways and inclusive playspaces. We also seek to activate communities with programs that support positive physical and mental health for all ages and provide access to fresh, healthy food.
Our primary health and wellbeing target is for all of our Residential and Retirement Living communities to score above the Australian national average Personal Wellbeing Index.
Our community development and investment programs seek to support greater community connection by fostering self-sustaining social cohesion. Infrastructure that supports community connection includes community centres, hubs, public art, place making initiatives and multi-use formal and informal spaces. For greatest impact, we seek to engage with community groups on all projects and encourage participation in the vision, design and development process.
We seek opportunities to implement a range of community learning and education activities. Infrastructure that supports education includes the effective design and delivery of schools, libraries and learning hubs, local employment facilities and co-working spaces.
Our primary education target is to achieve a Stockland National Liveability Index score of 80% satisfaction with access to education across our residential communities.
We aim to provide business solutions that better serve our customers while reducing our impact on the environment and enhancing our bottom line.
As a leading real estate developer and manager, we are always looking for smarter and more efficient ways to develop and operate our assets. We are committed to creating resilient assets and communities that can flourish with adaptive and responsive design. Our customers want to run their homes and businesses cost effectively, but also appreciate a connection to the natural environment.
Our long-standing commitment to manage climate risk and reduce our carbon emissions has led to international recognition of our leadership on climate change. As a major developer and manager of property assets, we acknowledge that the built environment impacts on Australia’s emissions profile. We also acknowledge that civil works on residential development projects constitute an important source of our emissions. Our proactive approach to improving the energy efficiency of our assets and communities not only supports better environmental outcomes, but also improves cost of living and delivers tangible benefits for our business.
To continue toward our target of 60% reduction in carbon emissions by FY25 in Commercial Property (interim carbon intensity reduction targets of 10% in Retail Town Centres and 5% reduction in Workplace by FY20).
Development is a key activity for Stockland, yet brings with it biodiversity challenges and opportunities for our business, particularly in new urban growth corridors. Developments on greenfield sites can impact local bushland habitat, ecological communities and protected or significant species.
All new developments to have an aggregated net positive contribution to biodiversity value by FY20.
Australia's fluctuating climate can lead to long-term drought, water scarcity (often resulting in water restrictions) and severe flooding. As a responsible property developer, Stockland constantly considers where water is sourced, how efficiently it is used and how the quantity and quality is managed.
Retail town centres and retirement living villages to reduce water intensity by 5%, and all new residential communities to exceed minimum standards by 5%.
Waste treatment and disposal can impact the surrounding environment, with nutrients released during waste breakdown potentially polluting groundwater and waterways, incineration leading to air quality and pollution issues, and landfills contributing to the world’s total greenhouse gas emissions. We take these impacts very seriously and are committed to managing our waste efficiently and seek to reduce, reuse and recycle our waste whenever feasible, minimising our contribution to landfill.
Achieve residential and retirement living development contractor waste targets of 60% diversion form landfill, and retail development contractor waste targets of 85% diversion from landfill.
We aim to enhance the value we create by forming positive relationships that extend our capacity to deliver leading sustainability outcomes.
Enriching our value chain is about how we manage our risks while working with our employees, our suppliers and other key partners. When we work in collaboration with our stakeholders, our outcomes are strong and our relationships prosper.
Stockland respects and seeks to promote human rights through its corporate policies, programs, initiatives, project and asset guidelines, and broader governance and stakeholder management methods. We also look to promote human rights through our business activities and other initiatives.
Undertake an organisational human rights risk review.
We are committed to developing and maintaining strong relationships with a broad range of stakeholders across our diverse business. We practice open, honest, two-way communication and we recognise the mutual benefits that result from this genuine engagement for both our business and our stakeholders.
Maintain stakeholder engagement plans for all active development projects, and deliver stakeholder engagement workshops to our employees to embed strong engagement practice across the organisation.
We adopt a rigorous approach to understanding and proactively managing the risks we face in our business. We recognise that making business decisions which involve calculated risks, and managing these risks within sensible tolerances, is fundamental to creating long-term value for all our stakeholders. As an investor of capital, we conduct risk assessments at critical decision points during the investment process to identify risks and to meet target returns.
Sustainability leadership at Board and executive level is critical to ensure that sustainability management and performance is integrated into our culture, processes and business relationships.
Our governance and risk management priorities relate to embedding cyber security risk management, organisational resilience, and crisis management processes across the organisation, as well as completing risk reviews in priority areas.
Effective management of our supply chain enhances our long term business performance, as it enables us to identify and address key environmental, social and governance risks and opportunities which fall within our scope of asset development yet are beyond our operational control. We work to build strong relationships with our suppliers so that they are motivated to operate in a manner which is consistent with our values and standards. We recognise that having a sustainable supply chain is fundamental to having a sustainable business.
Our primary supply chain management target is to extend our Sustainable Supply Chain Charter by sharing guidance on the implementation of the charter by our partners.
We recognise that the key to sustainable competitive advantage is our people, and that the ability to engage and retain valuable employees is critical to our overall business performance. Employees that are engaged are more productive, more passionate and more inspired to innovate and deliver above and beyond standard performance.