Climate change & energy

Set and structure targets and medium- term timeframes for greenhouse gas emissions reductions across our Commercial Property portfolio.

Built a robust database – our CCAP Online Tool. We have prioritised tailoring the tool to meet the requirements of emerging reporting requirements. We have also completed expansion of the tool to enable scenario modeling, which will help us set 'informed' emissions reduction targets.

Reduce energy consumption by 5 per cent across our operating retail centre portfolio.

Reduced energy consumption by 5 per cent across our operating retail centre portfolio.

Work towards a 3.5 Star NABERS Energy average for our office portfolio.

Achieved a 3.4 Star NABERS Energy average in office buildings for 2008 (Stockland managed buildings). Additionally, our portfolio with sub-metering achieved a 3.6 Star NABERS Energy portfolio average in 2008.

Capture the short and long-term value
of our actions.

Progressed return-on-investment modeling to better understand achieved and future costs and efficiencies, and developed a carbon abatement cost curve.

Commit to effective carbon markets.

Maintained our support for complementary mechanisms aligned with the proposed emissions trading scheme.

Provide leadership beyond our direct influence.

Collaborated with our property sector peers and engaged our suppliers in addressing emerging regulatory requirements. We have also engaged our customers, particularly our tenants, on how we can improve energy efficiency.

Commit to innovation – investigate new ways to manage and develop property assets.

Researched the business case for low carbon technologies including wind power and co/tri-generation across our Commercial Property portfolio.

Commenced operation of our tri-generation plant at our Sydney office, Stockhome.

Use meaningful metrics to measure and communicate our performance relative
to our peers.

Continued to enhance our energy and emissions reporting tools to reflect emerging regulation and business needs. We have engaged with investment analysts to inform development of our metrics, and we have worked with our property peers to prepare reporting guidelines for our sector.

Undertake climate change risk analysis
and then revise/establish our guidelines specific to our Residential and our Commercial Property business risks.

Engaged with specialists to gauge our risk due to the potential physical impacts of climate change. We are now researching risks associated with flooding, storm surge, sea level rise and bushfires.

Engage with industry and government towards the development of emerging regulation and voluntary tools.

Shared our experiences and insights with government to inform practical and effective policy. This engagement has been both direct and through our active membership of industry groups.