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CR&S 2010 About Stockland Our strategy We are focused on leveraging our diversified business model to deliver growth via our 3-R strategy: Residential, Retirement Living and Retail. In our Residential business we are focused on our market-leading position by increasing our footprint in population and employment growth areas. We will use feedback from our customer insights research to develop quality products and respond to the needs of our customers. Our Retirement Living business will capitalise on the ageing demographic. We have a substantial development pipeline and there are acquisition and consolidation opportunities. We aim to double the size of the business. In Retail we will continue to develop the business by enhancing the existing retail assets to improve their quality and position in the market. In the delivery of our 3-R strategy we achieve competitive advantage through our customers, products and communities. Our 3-R strategy Retail Retirement Living Residential These focus areas are discussed in detail through the report in our work on customer engagement, housing affordability, and community development. It is also through these focus areas that our social and environmental sustainability goals are embedded into our group strategy. 10 Stockland Corporate Responsibility & Sustainability Report June 2010
Our Value Chain We own, manage and develop property and operate across most parts of the property value chain. 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 long-term value of our assets. As a building owner, we have the capacity to make investment decisions that influence the performance of these assets over time. Asset and property manager We also manage shopping centres, office buildings, industrial sites and retirement living villages. 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 develop 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 reported the energy and greenhouse gas emissions associated with these sites in this report. Value VALUE chain CHAIN – STOCKLAND ACTIVITIES Retirement Living Residential Communities Commercial Property Upstream Products Building materials (e.g Boral) Building technologies (e.g grey water recycling) Off-balance sheet 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. As we are generally both the fund manager and the property and asset manager, we are able to exercise a reasonable level of control over the environmental performance of these assets. 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. Funding Acquisition Design On-balance sheet Masterplanning Detailed design Approvals Project Management Procurement and contracting Construction Completion and handover 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 and our contract documentation, 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. Leasing and Sales Leasing Sales Asset and Property Management Asset management Property management Refurbishment/ Redevelopment Downstream Products Downstream services are associated with the ongoing operation of properties but go beyond our existing property and asset management activities. They include: • child care • equipment leasing • warehouse management • cleaning and security • catering • utilities provision • payments processing. Coordinated by Stockland or sometimes undertaken by Stockland. Currently undertaken by Stockland. Detailed design by design consultants Building and construction by contractors Sales by commercial agent Not currently undertaken by Stockland. Stockland Corporate Responsibility & Sustainability Report June 2010 11
Page 1 and 2: Corporate Responsibility & Sustaina
Page 3 and 4: stockland CR&S Board Committee We a
Page 5 and 6: FY10 key achievements and prioritie
Page 7 and 8: Memberships To promote sustainabili
Page 9: Our business What We Do We have a l
Page 13 and 14: Key financial results Underlying pr
Page 15 and 16: Doing the right thing as a property
Page 17 and 18: Common Practices and Values Corpora
Page 19 and 20: Retirement Living Sustainability Po
Page 21 and 22: UN Principles for Responsible Inves
Page 23 and 24: Our approach to stakeholder engagem
Page 25 and 26: CASE STUDY Building better communit
Page 27 and 28: CASE STUDY Engaging our retailers -
Page 29 and 30: Stockland UK - progress and priorit
Page 31 and 32: Our people - progress and prioritie
Page 33 and 34: We are committed to acting on feedb
Page 35 and 36: CASE STUDY Parental transitions pro
Page 37 and 38: CASE STUDY Safe Work Week at Stockl
Page 39 and 40: CASE STUDY Gateway asset management
Page 41 and 42: Employee metrics All employee metri
Page 43 and 44: Employee turnover During the report
Page 45 and 46: Our marketplace - progress and prio
Page 47 and 48: Our marketplace comprises our relat
Page 49 and 50: CASE STUDY CSR 5 Star Green Star in
Page 51 and 52: CASE STUDY Housing affordability Ex
Page 53 and 54: In recognition of the need to conti
Page 55 and 56: Over the past year we have enhanced
Page 57 and 58: CASE STUDY Framing energy efficienc
Page 59 and 60: CASE STUDY EnviroDevelopment at Poi
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Our community - progress and priori
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Community development Our community
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Stakeholder engagement As outlined
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CASE STUDY Dress for Success Stockh
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Measuring Community Investment We u
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Climate and our environment - progr
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Climate and our environment - progr
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CASE STUDY Retirement Living solar
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We will continue to strive for lead
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Total Scope 3 (kgCO 2 -e) FY10 FY09
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Our energy consumption Purchased el
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Our natural environment Biodiversit
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CASE STUDY Our ‘Green Office Fito
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Residential and Retirement Living w
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CASE STUDY 2 Victoria Avenue - Flag
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CR&S 2010 Nabers Ratings NABERS Off
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CR&S 2010 GRI Index Global Reportin
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GRI indicator 4. Governance, commit
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GRI indicator Responded to in FY10
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GRI indicator Society indicators Co
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Independent Assurance Statement Sto
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Banarra identified the following ar
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