Our stakeholders

Natural Resources

Performance summary

Last year we said we would:	This past year we have:	In the coming year our priorities are to:
Reduce water consumption by 5 per cent across all operating retail centres.	Reduced water consumption by 5 per cent across all operating retail centres.	Reduce water use intensity by 10 per cent across our Commercial Property portfolio by FY14. Attain a 4.0 Star average NABERS Office Water rating for our office portfolio by FY14. Work with our waste providers to improve the understanding and standard of waste reporting. The recycling rate target for retail assets is 20 per cent and for office assets it is 70 per cent. Extend reporting to all new Commercial Property sites. Refine inventory of biodiversity on our land bank and develop a register of threatened and endangered flora and fauna. Include water reporting requirements in the monthly contractor health, safety and environment reports and improve the accuracy of data collected for direct Stockland activities.
Work towards a 3.5 Star NABERS Water portfolio average target for our office portfolio.	Achieved a 3.6 Star NABERS Water rating for Stockland managed properties for calendar year 2008.
Improve our waste management reporting for our operating assets.	Completed a national tender for waste management services.
Investigate waste reporting for construction sites with our construction suppliers.	Provided construction reporting for all office development sites, and the first construction reporting is available for retail.
Pilot biodiversity indicators on a small number of sites, using feedback from the pilot to shape biodiversity management guidelines.	Not progressed this work due to a change in strategy and policy following the recruitment of a new national sustainability manager.

The effective management of our use of, and impact on, natural resources is one of the key pillars of our CR&S strategy. This includes:

Improving the efficiency of our water consumption,
Understanding the impact of our business on biodiversity,
Measuring and reducing waste.

We have been focusing on these areas by implementing specific initiatives as well as building internal and external understanding of our consumption of natural resources.

Our Residential and Retirement Living businesses spent over $54 million on environmental protection and management measures in FY09, with the majority of spend going towards natural resource management. Measures include tree protection and bush regeneration, water and ground-water monitoring and protection, biodiversity offsets and construction environmental management.