About Stockland

Value chain

We operate across most parts of the property value chain. We own, manage and develop property. However, we engage others to carry out building works and to provide services such as security and cleaning.

Our primary areas of direct activity

Owner

We own shopping centres, office buildings, industrial sites and retirement villages. We manage the acquisition process and are responsible for protecting and enhancing the value of the asset over time. As a building owner, we have the capacity to make investment decisions that influence the performance of these assets.

Asset and property manager

We also manage shopping centres, office buildings and industrial sites. We manage the large majority of the assets we own, and those assets that are held in our unlisted property funds. This gives us significant influence over the performance of these assets.

Developer

We are developing over 60 projects nationally, including residential communities, and new and substantially refurbished retail, office and industrial projects. As a developer, we have significant capacity to shape environmental and social outcomes. However, our capacity to direct supply chain decisions, such as the selection of building materials, suppliers and construction waste management service providers, can be limited in some instances, as we rarely act as the principal contractor (builder).

For the purposes of reporting energy and greenhouse gas emissions under the Federal Government's National Greenhouse and Energy Reporting Act we are considered to have operational control of our residential developments. We have commenced reporting on the energy and greenhouse gas emissions from those sites in this report.

Our areas of influence

Fund manager

We act as an unlisted property fund manager for a number of retail and office assets, and a small number of residential sites. Typically, the fund manager has some scope to influence social and environmental performance through directing the property manager. We are able to exercise a reasonable level of control over the environmental performance of these assets as we are generally both the fund manager and the property and asset manager.

Design

Our involvement in the design process is largely limited to design management. Generally, we engage design consultants such as planners, architects and engineers to provide detailed solutions and documentation. In setting project briefs and managing the design process through design and development managers, we can greatly influence design solutions for communities and buildings, and their social and environmental impact.

Builder (principal contractor)

We generally do not take on the role of builder. We engage contractors who are equipped to deliver this service and manage the associated risks. Through our development and project managers, however, we have the opportunity to define and clearly set expectations with our builders particularly in terms of labour conditions for construction workers, including health and safety, as well as environmental management.

Commercial office leasing

Commercial leasing is undertaken by contractors. We have reduced opportunity to influence our prospective tenants' perception of the value of energy efficiency and high environmental performance.

Upstream products, including building materials

Many upstream products such as building materials are generally selected by our builders. This can limit our ability to direct the selection of environmentally and socially appropriate materials. We can guide the performance attributes of building materials by setting clear briefs and highlighting the value we place on environmental performance. Our commitment to the use of Green Star rating tools aids this influence.

Downstream services, including cleaning and security

We have increasingly recognised our capacity to influence the sustainability performance of our service providers, such as cleaning and security providers. In particular, we have made clear our expectations to our service contractors that their workers have fair working conditions.